Job Outlook

From 2008 to 2018, the U.S. Bureau of Labor Statistics reports that employment will increase 10 percent. This increase in jobs will largely depend on consumer demand and development of new technology. Service-providing industries will account for 18.7 million of those 18.9 million jobs. Industries where the most growth is anticipated include: business, engineering and computer technology. Thus, both graduate and undergraduate degrees in any of the above areas will prove highly desirable.

Healthcare and Social Services: All projections suggest that healthcare will grow a great deal in the coming decade—especially with the passing of universal healthcare—by 30.6 percent to be exact. The aging population is another major contributor to the increased need for trained nurses and other medical professionals. Similarly, private educational services/social services will grow by 32.5 percent and add 16,830 new jobs through 2018.

Professional and Business Services: This industry will grow by 26.7 percent through 2018. 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 25 percent of the new jobs in this sector. New job opportunities will result because of businesses’ increased reliance on information technology and the 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 in the ever-globalizing world of business.

Information: Employment in the information field is expected to increase considerably adding 118,000 jobs by 2018. The Information industry includes many fast growing computer-related professions such as software publishers, internet publishing and broadcasting as well as 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.

Finance and Insurance: The size of the finance and insurance industry is expected to increase by five percent from 2008 to 2018. Additionally, employment in the securities, commodity contracts, and other financial investments and related activities industry is projected to expand by 12 percent by 2018. These figures are in direct relationship to the number of baby boomers in their peak savings years, the growth of tax-favorable retirement plans, and the globalization of securities markets.

Employment in the insurance carriers and related activities industry is expected to grow by three percent, which should create about 67,600 new jobs by 2018. Growth will largely be due to the demanding needs of our increasing population and the new insurance products available in the market.

Real Estate: The real estate and rental and leasing industry is expected to grow by 11 percent through 2018. As expected, this increase will be due in part to the increasing demand for housing as our population continues to grow.

 

For more information regarding other industries and employment statistics, visit the Bureau of Labor Statistics website.