March 10, 2004 (The Editor’s Desk is updated each business day.)

Employment projections for the goods-producing sector, 2002-12

Employment in the goods-producing sector is expected to reach a total of 23.3 million jobs in 2012. However, its 0.3-percent projected annual rate of growth between 2002 and 2012 is dwarfed by the expected 1.8-percent pace in the service-providing sector.

[Chart data—TXT]

The construction industry, the only major goods-producing sector expected to post positive employment growth, is projected to increase by 1.0 million jobs, reaching 7.8 million in 2012. Manufacturing employment is projected to show little change over the projection period, declining by 0.1 percent annually and thus dipping only slightly below its 2002 level of 15.3 million.

Employment in the mining industry is projected to continue its historical decline by shedding jobs at a 1.3-percent annual rate to settle at 451,000 by 2012. The agriculture sector is projected to experience the largest declines in employment for any major sector as it loses jobs at a 1.6-percent annual rate.

These data are produced by the Employment Projections program. For more information, see "Industry output and employment projections to 2012," by Jay M. Berman, Monthly Labor Review, February 2004.  

 

Related TED article:

• Employment growth in the service-providing sector, 2002-12