According to the U.S. Bureau of Labor Statistics, the U.S. economy is projected to create 8.3 million jobs between 2021 and 2031.
Total employment is projected to grow from 158.1 million to 166.5 million, with an annual growth rate of 0.5%, slower than the 1% annual growth recorded over the past decade.
The forecast uses 2021 annual average employment levels as a base year, the BLS said in a news release on Thursday, Sept. 8.
He said the average annual level for 2021 does not reflect much of the job recovery and redeployment that has already occurred in the aftermath of the COVID-19 pandemic and the associated recession, but said that the pandemic is likely to change demand structures. pointed out that it has become a catalyst for social change. Certain Goods and Services.
These are expected to influence long-term demand for employment in selected industry and occupational groups.
For example, the leisure and hospitality sector is projected to experience the fastest employment growth of all sectors, mainly due to its low base point in 2021. The health care and social assistance sector is projected to create the most jobs over the next decade. It is growing in parallel with the 65+ population segment.
This should increase the demand for various healthcare professions, especially those involved in the care of the elderly and those expected to benefit from the increased prevalence of team-based healthcare.
Projected growth in total employment will depend on projected growth in the economy and labor force. Both of these can be affected by demographic changes.
Growth in the private, uninstitutionalized population is projected to slow to 0.7% per annum, while the labor force is projected to grow at 0.5% per annum, about the same pace as the 2011-21 decade.