The good folks at Visual Capitalist have put together a big juicy infographic depicting employment trends over the next decade, based on projections from the Bureau of Labor Statistics. The vertical axis is % decadal growth for each category, the horizontal axis is 2020 median annual wage for that category, and the size of the bubble indicates the absolute numbers of change. The color of each bubble is keyed to “Occupational Group”, i.e., “Health related”, “Computer and mathematical”, etc.
Below I snipped part of the infographic which shows occupations which will be growing. The horizontal positioning (median annual wage) runs from $20,000 on the left to $120,000 on the far right; nurse practitioners fall in the $105,000-120,000 range. The fastest growing, percentagewise, are wind turbine service technicians (68%), followed by nurse practitioners and solar installers tied at about 52%. The biggest absolute numbers of job growth are in “Home health and personal care aides”, to tend aging baby boomers.
From the color coding, we can see at a glance that job growth is mainly in the Health Related and Computer and Mathematical categories, with a smattering of “Other”, including Animal Trainers (for dog obedience schools ??) and Crematory Operators, as those baby boomers age all the way out.
Some of the losing professions are shown below. Most of these are in the “Office and Admin Support” (purple) category and Production workers (including nuclear power reactor operators). Some “Other” categories will get hit hard, such as parking officers and door-to-door salesmen.
Most of these shrinking jobs are lower paid, while many of the growing jobs are better paid. Bottom line: advise your kids to consider careers like data security/analysis, or a health care specialty, including management.