The U.S. Bureau of Labor Statistics reports that total employment in the U.S. is expected to increase from 145.6 million in 2004 to 164.5 million in 2014, or by 13 percent. The 18.9 million jobs that will be added by 2014 will depend on consumer demand, technology and many other factors. Service- providing industries are expected to account for 18.7 million of those 18.9 million jobs. Employers plan to target business, engineering and computer-related degrees at both the bachelor’s and master’s degree level in 2006.
Education and health services: This industry is expected to grow faster, 30.6 percent and add more jobs than any other industry. Employment growth in the health services field will be heavily dependant on an aging population and longer life expectancies. Private educational services will grow by 32.5 percent and add 898,000 new jobs through 2014.
Professional and business services: This industry will grow by 27.8 percent and add more than 4.5 million new jobs. Employment in professional, scientific, and technical services will grow by 28.4 percent and add 1.9 million new jobs by 2014. Employment in computer systems design and related services will grow by 39.5 percent and add almost one-fourth of all new jobs in professional, scientific, and technical services. Employment growth will be driven by the increasing reliance of businesses on information technology and the continuing importance of maintaining system and network security. Management, scientific, and technical consulting services will also grow rapidly, by 60.5 percent, spurred by the increased use of new technology and computer software and the growing complexity of business.
Information: Employment in the information field is expected to increase by 11.6 percent, adding 364,000 jobs by 2014. Information contains some of the fast-growing computer-related industries such as software publishers; Internet publishing and broadcasting; and Internet service providers, Web search portals, and data processing services. Employment in these industries is expected to grow by 67.6 percent, 43.5 percent, and 27.8 percent, respectively.
Financial activities: Employment is projected to grow 10.5 percent by 20014. Real estate and rental and leasing is expected to grow by 16.9 percent and add 353,000 jobs by 2014. Growth will be due, in part, to increased demand for housing as the population grows. The fastest growing industry in the financial activities super sector will be activities related to real estate, which will grow by 32.1 percent, reflecting the housing boom that persists throughout most of the nation. Finance and insurance is expected to increase 496,000 jobs or 8.3 percent by 2014. The number of jobs within agencies, brokerages, and other insurance related activities is expected to grow about 19.4 percent, as many insurance carriers downsize their sales staffs and as agents set up their own businesses.