US to Add 11.9 Million Jobs Between 2020 and 2030

Total US employment is expected to grow to 165.4 million jobs during the 2020-2030 decade, an increase of 11.9 million jobs, according to projections released earlier this month by the US Bureau of Labor Statistics.

This reflects a 0.7% growth rate, higher than recent projections and from a low base-year for employment of 2020 because of the Covid-19 pandemic and associated recession.

Employment in the leisure and hospitality sector is projected to grow the fastest. Growth in this sector is largely driven by recovery from the pandemic as restaurants; hotels; and arts, cultural and recreational establishments with a low base-year of 2020 see restored demand.

The sector slated to add the most new jobs is the healthcare and social assistance sector. It’s expected to add about 3.3 million jobs between 2020 and 2030. Within healthcare, employment in the individual and family services industry is projected to increase the fastest, with an annual growth rate of 3.3%. Factors that are expected to contribute to the large increase include rising demand for the care of an aging baby-boomer population, longer life expectancies, and continued growth in the number of patients with chronic conditions.

Gross domestic product is projected to grow 2.3% annually from 2020 to 2030.

The BLS report is online.

Original Article: https://www2.staffingindustry.com/site/Editorial/Daily-News/US-to-add-11.9-million-jobs-between-2020-and-2030-59101