There’s plenty of good news in the job market these days. The unemployment rate continues to fall, and companies are finally increasing their hiring plans. As of the end of May, there were 5.4 million job openings, the highest number in 15 years.
A report, released last month by CareerBuilder, projected that the U.S. workforce would expand 5 percent from 2014 to 2019. That’s more than the 3.5 percent growth rate from 2009-2013, but lower than the pre-recession 2003-2007 period, when jobs grew 5.8 percent annually.
As the economy continues to improve, some industries are poised for far greater growth than others. Among the fastest growing jobs, according to the Bureau of Labor Statistics, which projects job growth for hundreds of occupations over the next 10 years, six are in the medical field.
That’s due to both the aging baby boomers who are developing all sorts of ailments that need medical attention and the expansion of access to health care under Obamacare. About 10,000 baby boomers celebrate their 65th birthday every day, a trend that will continue for more than a decade, according to the Pew Research Center.
Unfortunately, not all fast-growing jobs spurred by changing demographics are high-paying gigs. Half of the most in-demand jobs pay less than the median pay for all American workers ($46,000), with some critical roles like personal care aides and home health aides paying more than 50 percent less.
Of the 10 fastest-growing jobs, only three require a bachelor’s degree or higher, and four don’t even require an associate’s degree.