AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Handwriting Is On The Wall For Tomorrow's Job Seekers.(ISSUES & INSIGHTS)(VIEWPOINT)
Byline: BRUCE BARTLETT
The Bureau of Labor Statistics has just issued a new report on employment growth over the next decade.
Prepared by the agency's career staff, it has an excellent record of forecasting industry and occupational trends. It contains good news for those seeking jobs -- if they have the right skills.
To calculate job growth, the BLS first does a long-term economic forecast using the respected computer model of Macroeconomic Advisers. Its prediction is that real gross domestic product will rise at an average annual rate of 3% between 2002 and 2012. This is slightly less than the 3.4% annual rate in the 1980s and 3.2% in the 1990s. By 2012, the economy will have grown to $12.6 trillion (in 1996 dollars), up from $9.4 trillion in 2002.
The BLS sees investment spending by businesses as the driving force for growth. It is expected to rise at a 5.5% annual rate over the next decade.
Gray Areas
Increased spending on computers and software are a major reason for the higher investment. By 2012, businesses are expected to spend $1.6 trillion in this area, up from $420 billion in 2002, $75 billion in 1992 and just $11 billion in 1982 (all in 1996 dollars).
- Labor force projections to 2012: the graying of the U.S. workforce: the labor...
- Magazine article from: Monthly Labor Review Toossi, Mitra February 1, 2004 700+ words
...2002, when the labor force grew by 14.4 million...3 percent. The annual rate of growth in the women's labor force is expected to remain...1.) The men's labor force is expected to grow at an annual rate of 1.0 percent...
- On the road to recovery QI-1992. (the US economy during the first quarter of...
- Magazine article from: Arkansas Business and Economic Review Alguire, Mary S. March 22, 1992 700+ words
...interesting to note that the U.S. Civilian Labor Force increased by an annual rate of 2.6 percent, and the Arkansas Civilian Labor Force increased by an annual rate of 3.7 percent during this first quarter...
- Labor force projections to 2014: retiring boomers: the baby boomers' exit from...
- Magazine article from: Monthly Labor Review Toossi, Mitra November 1, 2005 700+ words
...fiat. The women's labor force is expected to grow at an annual rate of 1.0 percent during...that of men, whose labor force is projected to grow at an annual rate of 0.9 percent. Men's share of the labor force is expected to decrease...
- Labor force projections: 1986 to 2000. (Projections 2000)
- Magazine article from: Monthly Labor Review Fullerton, Howard N., Jr. September 1, 1987 700+ words
...of three alternative labor force projections; well below...million added to the labor force between 1972 and 1986...than the 2.2-percent annual rate over the 1972-86 period...Some trends in the labor force projections--the expected...
- After the baby boom: population trends and the labor force of the future.
- Magazine article from: Business Review (Federal Reserve Bank of Philadelphia) Schiller, Timothy December 22, 2005 700+ words
...on the U.S. labor force and the nation...has grown at an annual rate of around 3...projected for the labor force reflects both...decrease in overall labor force participation...gradually slow from an annual rate of around 1...
- A summary of BLS projections to 2014: the U.S. economy is expected to expand at...
- Magazine article from: Monthly Labor Review Saunders, Norman C. November 1, 2005 700+ words
...aggregate economy; labor force by age, sex, race...projected to grow at an annual rate of 2.8 percent in...and a steadily growing labor force with a favorable outlook...job opportunities. Labor force. In the second article...
- Labor force data.(Current Labor Statistics)(Illustration)
- Magazine article from: Monthly Labor Review August 1, 2005 700+ words
...1990 2.1 March 1991 to March 2001 2.2 November 2001 to February 2005 4.1 (1) Average change in each quarter at an annual rate in output per hour in nonfarm business. Table 8. Business professional and technical services share of total private services...
- Labor force.
- Magazine article from: Occupational Outlook Quarterly December 22, 2005 700+ words
The labor force is the number of people aged 16 or...either working or looking for work. The labor force does not include active-duty military...as prison inmates. The size of the labor force depends on two factors. The first...
