Future Jobs and Economic Divides

Posted on 11/9/2017 by Robin Scheu

The New York Times recently posted an article by Ben Casselman titled A Peek at Future Jobs Shows Growing Economic Divides.

It starts off by saying:

"A decade from now, the American economy could look much the way it does today — only more so. More dominated by the service sector amid the continued erosion of manufacturing jobs. More polarized in both earnings and geography. More tilted toward jobs that require at least a bachelor’s degree.

That, at least, is the future foreseen by experts at the Bureau of Labor Statistics. The federal agency on Tuesday released its projections of what the United States employment picture will look like in 2026. (The estimates are based on long-term trends, not the short-term strength or weakness of the economy.)

The projections reflect some familiar patterns. Jobs in health care and clean energy will continue to grow rapidly. Manufacturing jobs will shrink, as will occupations involving data entry or other tasks that are increasingly being done by machines or algorithms. Overall job growth will continue to be slow, partly as a result of the aging of the baby boom generation; by 2026, even the youngest boomers will be approaching retirement."

To read the full article and view the charts that show where the jobs are and aren't, click here.