December 1, 1999 (The Editor’s Desk is updated each business day.)
Millennial themes: age, education, services
The Bureau of Labor
Statistics recently released its work force projections for the period
1998-2008.
[Chart data—TXT]
Some of the themes that may be important to watch unfolding over the
next several years include:
The continuing aging of the labor force. The median age of workers is
projected to rise to nearly 41 years. At that level, the median age of the
labor force will just exceed the previous high of 40.5 years reached in
1962.
The growing importance of education. Occupations that require at
least an associate degree will account for 40 percent of all job
growth out to 2008, compared to a one-quarter share of all jobs that
existed in 1998.
The dominance of the service-producing sector as a source of employment
growth. In the projection period—1998 to 2008—the service sector will
account for more than 90 percent of job growth.
Projections of the labor force and the industrial and occupational
composition of employment are a product of the Employment
Projections program. To find out
more, see articles
from the November 1999 issue of Monthly Labor Review.
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
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Read more »
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