The Job Market Of The Future: More Lower-Paying Positions [AUDIO]
The job market, job creation. You hear those phrases constantly. But where will we be going for jobs by the end of this decade?
Federal labor officials see a big increase in health care jobs as America's population continues to age. Economic Analyst Patrick O'Keefe of J.H. Cohn in Roaseland agrees, but he also believes those jobs and many others will be below average in pay. O'Keefe says that what we can anticipate is the overall standard of living will be lower compared to other countries, he says, simply because we are still working off what he calls the "economic excesses" of the past decade.
He says construction jobs will also be available. But the availability mix between skilled jobs...carpenters, electricians and plumbers... and lower paying laborer jobs will be much more heavily weighted toward the lower-paying laborer openings.
The Federal Bureau of Labor Statistics says the fastest-growing jobs will include biomedical engineers (mean annual wages: $84,780), veterinary technicians (mean annual wages: $31,030), event planners (mean annual wages: $48,780), and physical therapy assistants (mean annual wages: $49,810), and occupational therapy assistants (mean annual wages: $51,300).
Despite election-year speeches from Republican primary candidates and President Obama about jump-starting a renaissance in American manufacturing, the BLS forecasts that 11 industries in that sector will experience among the largest job declines over the next ten years.