Job growth will pick up slightly as the economy continues to recover from the Great Recession, but the outlook for some industries and metro areas is far brighter.
The position with the most growth potential is the low-paying personal care or home health aide position, which is expected to expand 21 percent to meet the growing demand created by an aging population. The next two fastest-growing jobs, with a projected 14 percent increase in jobs over the next five years, are market research analysts or marketing specialists (also known as consultants), and medical secretaries. The new report was conducted by CareerBuilder and Economic Modeling Specialists International.
The U.S. workforce is expected to expand 4.4 percent from 2013 to 2015, faster than the 3.5 growth rate from 2009-2013, but lower than the pre-recession 2003-2007 period, when jobs grew 5.8 percent annually. “Barring any major shocks to the economy, the short-term job outlook in the U.S. will likely continue developments seen during the recovery – specifically, significant growth for jobs that require a college education and occupations in health care, energy and technology,” said Matt Ferguson, CEO of CareerBuilder, in a statement.
Higher-wage occupations ($21.14 per hour) are expected to grow 5 percent over the next five years, while low-wage jobs ($13.83 and lower) and medium-wage jobs will grow at 4.7 percent and 3.3 percent respectively.
Of the 165 occupations expected to lose jobs, three-quarters are in the middle-wage category.
College-educated workers will have more options than their less educated counterparts will. Jobs requiring a bachelor’s degree are expected to grow 6 percent, while those requiring a master’s or an associate’s degree will both swell 8 percent. Meanwhile, jobs that require short-term, on-the-job training will increase just 4 percent.
The performance of job markets will also vary by locations. Texas is home to the top three fastest-growing markets – Austin, Houston, and San Antonio. Rounding out the top five fastest-growing metros are Raleigh, N.C., and Washington, D.C.
Top Reads at The Fiscal Times: