There are some jobs flourishing better than others in today’s ever-changing economy. It’s great for waiters, bartenders and nurses, but what about everyone else?
It seems that the economy continues to produce more jobs in large numbers each month and long-term unemployment numbers appear to be decreasing. However, things still don’t feel like they are that good.
Where Job Growth is Happening
The economy has produced 12.4 million jobs since March 2011 in many areas:
- 2.2 million in leisure and hospitality
- 1.8 million in accommodation and food services
- 2.6 million in education and health services
- 2.1 million in health care and social assistance
- 1.4 million in retail trade
- 300,000 in car dealerships
- 260,000 in food and beverage
- 1.3 million in administrative and waste services for professional and business services
Those losing their jobs in the manufacturing world are switching over to bars and restaurants, and are causing the food and drinking establishments to be one of the fastest growing categories Other popular categories include health, education, retail and construction. These categories are making up approximately 8 out of 10 jobs created over the past few months with a loss of 29,000 manufacturing jobs, the same amount of jobs that were created in food services.
Here is the actual makeup of the U.S. workforce as from MoneyTalksNews:
- Retail: 16 million
- Professional services: 20 million
- Finance (including real estate): 8.3 million
- Education and health: 22.5 million
- Leisure and hospitality: 15 million
- Wholesale trade: 6 million
- Transportation: 4.9 million
- Information: 2.8 million
- Government: 22 million
Therefore, in a group of 10 people, 7 would work in service and 3 would be either building houses or working for the government. Then, of the 7 service workers, 3 would work in retail or a bar, one would be a teacher or nurse, one would be a professional, one in finance or real estate and the last would be split between things like information services and transportation.
It’s important to consider job trends when you or your child looks at educational opportunities or considers switching careers.