BLS 8-Year Job Growth Projections: Healthcare And Retail Top The List
The US Bureau Of Labor Statistics have issued fresh projections for the positions with the most job growth over the next eight years. These numbers hit the web in December and I caught up with them while doing research on projections for growth in demand for medical properties.
The table from BLS I’ve linked to points to the medical sector growing in the next ten years with very clear indicators. with the largest growth in jobs expected to be in the position personal care aides, followed by registered nurses coming in at number two.
While news like this surely brightens the mood at healthcare REIT offices and at other real estate enterprises meeting the expansion in demand for medical care coming with the greying of the population, health care is not the only sector in the top three of BLS job growth expectations.
At the #3 position we find retail salespersons, currently at 4.4 million jobs and expected to be at 4.8 million in 2022, for a bump of 9.8%.
At #5, food preparation including fast food ( 2.9 million currently, 3.4 million expected in 2022, for a expected bump of 14.2% over next eight years).
Some interesting facts:
- Of the top ten job descriptions, only two (nurses and nurse assistants) needed more training than high school.
- Of the top ten, six require only grade school education.
- The lowest-paying median annual wage on the list, food preparation, ranks fifth on the list at $18,260.
- Four of the top five positions were in health care
Take away what you will from the Dept. of Labor’s tea leaves, but one thing is clear. We can add the BLS to the giant pile of indicators that healthcare is expanding to meet the needs of a newly insured (and aging) populace.