Post on 27-Mar-2015
transcript
New Jersey
Industry and Occupational
Employment Projections2008-2018
Annual Employment Change in New Jersey
1939-2009
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(000s)
For the first time ever, NJ ended a decade with fewer jobs than it started
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(000s)
3 Recessions1 Boom1 Jobless Recovery
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00s)
3,689,800
3,981,700
=Very little net growth in NJ over last 20 years
About 200,000 jobsOnly 0.26% annual
growth
US and NJ projections viewed as upper and lower bounds
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Growth in the nation is projected to outpace the state
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Goods Producing industries will continue their decline
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All growth will occur in Service Providing industries
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Growth in Service Providing industries will be offset by declines in Goods Producing industries
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th ‘08 –
‘18
Very slight growth is projected in Goods Producing industries in the nation
Em
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t g
row
th ‘08 –
’18 (
000s)
Projected growth by major industry group
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Goods Producing Industries
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wth
R
ate
Deep losses in manufacturing will continue to drive Goods Producing industries downward
Pro
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8-
201
8
These industries are the largest contributors to the decline in manufacturing
Pro
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8-2
018
Sharp drop in 2009 will create a long road back to 2006 peak for Construction
Service Providing Industries
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Gro
wth
Rate
2008 employment and projected growth by industry
sector
Information and Utilities are
projected to decline by almost 14,000
jobs
Almost 90% of new jobs will be found in these three industry sectors
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Healthcare will continue to grow, but the rate is slowing
Em
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t (0
00s) 2.7%
per year1.4%
per year
These typically higher paying industries are projected to add at least 2,000 jobs each
Professional & Business ServicesP
roje
cted
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8-2
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Occupational Highlights
• 2.8% Employment Growth, 2006-2016
• 121,600 Average Annual Job Openings
• Roughly 8 of every 10 of these openings due to Replacement demand
Professional and Service occupations will dominate job growth
Major Occupational GroupPro
ject
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8-2
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Due to replacement demand, there will be opportunities in all major occupational groups
28,760
28,420
18,090
14,780
12,920
7,920
3,990
3,520
3,160
Professional occupations are made up of many smaller groups
Service occupations consist of five occupational groups
Jobs with higher requirements for entry will grow faster than their lower level counterparts
Percent Growth 2008-2018 Percent Growth 2008-2018
These high paying occupations are all projected to grow faster than the state average
Percent Growth 2008-2018
$173,800
$154,100
$137,900
$112,900$105,000
$100,200
$96,200
$94,900 $90,100
$87,100
Questions or Comments?
Contact Jason TimianCall: 609-777-3635
E-mail:jason.timian@dol.state.nj.us
On the Web at:www.nj.gov/labor