Transcript New Jersey

New Jersey
Industry and Occupational
Employment Projections
2008-2018
Employment Change (000s)
Annual Employment Change
in New Jersey 1939-2009
Employment Change (000s)
For the first time ever, NJ ended a
decade with fewer jobs than it started
Employment (000s)
3 Recessions
Very little net
= growth in NJ over
1 Boom
1 Jobless Recovery
last 20 years
3,981,700
3,689,800
About 200,000 jobs
Only 0.26% annual growth
Employment (000s)
US and NJ projections viewed as
upper and lower bounds
Annual Percent Growth
Growth in the nation is projected
to outpace the state
Annual Percent Growth
Goods Producing industries will
continue their decline
Annual Percent Growth
All growth will occur in Service
Providing industries
Employment growth ‘08 – ‘18
Growth in Service Providing
industries will be offset by declines in
Goods Producing industries
Employment growth ‘08 – ’18 (000s)
Very slight growth is projected in
Goods Producing industries in
the nation
Annual Percent Growth
Projected growth by major
industry group
Annual Growth Rate
Goods Producing
Industries
Projected Employment Change 2008-2018
Deep losses in manufacturing will
continue to drive Goods Producing
industries downward
Projected Employment Change 2008-2018
These industries are the largest
contributors to the decline in
manufacturing
Sharp drop in 2009 will create
a long road back to 2006 peak
for Construction
Annual Growth Rate
Service Providing
Industries
2008 employment and projected
growth by industry sector
Information and
Utilities are projected
to decline by almost
14,000 jobs
Projected Employment Change 2008-2018
Almost 90% of new jobs will be found
in these three industry sectors
Employment (000s)
Healthcare will continue to grow, but
the rate is slowing
2.7%
per year
1.4%
per year
Projected Employment Change 2008-2018
These typically higher paying
industries are projected to add at
least 2,000 jobs each
Professional &
Business Services
Occupational Highlights
• 2.8% Employment
Growth, 2006-2016
• 121,600 Average
Annual Job Openings
• Roughly 8 of every
10 of these openings
due to Replacement
demand
Projected Employment Change 2008-2018
Professional and Service occupations
will dominate job growth
Major Occupational Group
Due to replacement demand, there
will be opportunities in all major
occupational groups
28,760
28,420
18,090
14,780
12,920
7,920
3,990
3,520
3,160
Professional occupations are made up
of many smaller groups
Service occupations consist of five
occupational groups
Jobs with higher requirements for
entry will grow faster than their
lower level counterparts
Percent Growth 2008-2018
Percent Growth 2008-2018
These high paying occupations are
all projected to grow faster than the
state average
$173,800
$154,100
$137,900
$112,900
$105,000
$100,200
$96,200
$94,900
$90,100
$87,100
Percent Growth 2008-2018
Questions or Comments?
Contact Jason Timian
Call:
609-777-3635
E-mail:
[email protected]
On the Web at:
www.nj.gov/labor