24/7 Wall St.: After the recession wiped out millions of jobs, the American labor market has at least partially recovered. So far this year, the United States has added roughly 1.6 million jobs. And in the 10 years through 2022, the BLS estimates that employment will grow by over 15 million jobs, or by 11 percent.
Some jobs are expected to better capitalize on economic, demographic, and workplace trends than others. For example, industrial-organizational psychologists are expected to grow 53.4 percent, the fastest in the nation, and occupations in the health sector are also anticipated to disproportionately grow. Based on estimated employment figures and projections for 2012 and 2022 published by the Bureau of Labor Statistics (BLS) for more than 1,000 occupations, 24/7 Wall St. identified the fastest growing jobs in America.
The jobs with the largest expected growth are often those that benefit from America’s changing demographics. In an interview with 24/7 Wall St., Martin Kohli, chief regional economist for the BLS, noted that the effects of an aging population, which has access to Medicare, “combined with innovations that provide new treatments” has led to increases in health care spending. In turn, more spending creates “a high demand for jobs to provide these services,” he added.
In fact, the average of all health support occupations is expected to grow 28 percent by 2022. Six jobs within the top 10 are in the health care sector.
Some of the fastest growing jobs are expected to receive a boost from economic trends. For example, the BLS expects that a continued economic rebound will lead to greater demand for construction and renovations. While construction laborers and helpers are expected to grow 25 percent, jobs such as masons’ helpers are expected to grow at a considerably higher rate of 45 percent.
Government and private sector initiatives are also expected to contribute to growth in specific occupations. New federal health care legislation is expected to increase access to health care and, in turn, to the scale of the health care industry. Meanwhile, mechanical insulators are expected to benefit from an increased focus on environmental sustainability.
Most of the occupations with the highest estimated growth rates are not especially large. Only two occupations, home health aides and personal care aides, are estimated to be among the larger jobs by number of people employed in 2022.
There does not appear to be wage or educational trends among the jobs with the largest growth rates. These occupations all have various levels of median wage as well as differing educational requirements.
To determine the jobs with the highest forecast rate of employment growth, 24/7 Wall St. reviewed BLS Employment Projections program data for 2012 and 2022. In order to qualify, occupations needed to reference a specific job rather than a broader classification. Figures from the BLS for 2012 represent estimates, while figures for 2022 represent forecasts and may be revised. Further information on each occupation came from the BLS’ Occupational Outlook Handbook.
These are the fastest growing jobs in America.