The number of jobs is projected to increase by 11.5 million positions by 2026, according to a report from the U.S. Bureau of Labor Statistics.
There are several major factors that will have an impact on the future of jobs.
Yet, the two most influential ones remain the rapidly changing demographics and the advancement of technology.
Demographic Factors in the Future of Jobs
“Several occupational groups are projected to experience faster than average employment growth, including personal care and service occupations, community and social service occupations, and computer and mathematical occupations.” — U.S. Bureau of Labor Statistics
The biggest growth in job openings is expected to be in the healthcare industry with the progressively ageing population which continues to create a demand for care-related services.
Simultaneously, due to the same reason, the labor force will become older as well as more diverse. This means that the future of jobs seems to open many opportunities for people with different backgrounds, skills, and knowledge.
Demographic factors such as age are not only going to influence the labor market but also they are going to create various employment opportunities.
Another example of an industry where employment will increase thanks to the new generations is the waste management industry – the younger part of the population is concerned about the environment more than any other.
As much as demographics influence the future of employment, technology is still the dominant factor when it comes to the labor market.
Technological Factors in the Future of Jobs
Technology is rapidly and constantly evolving. Every day new technological products enter the market. This has had its tremendous on the labor market as well. For better or worse, there are plenty of jobs that are being replaced by machines or robots. Computers can take over many various tasks that require precision and attention to detail.
However, there are still some qualities that people possess that machines don’t.
For instance, human qualities such as empathy are not likely to be replaced by computers any time soon.
Therefore, jobs in industries like elderly care or healthcare will have an increase thanks to the impact only a human being can bring.
Due to the evolving demographics and technology, jobs in some industries will rise while others will fall behind.
What are the fastest growing industries and skills required for each? Find out in the NovoResume infographic below.
This infographic was created by NovoResume.