According to U.S. Bureau of Labor Statistics (BLS) projections, the labor force will grow slowly and participation will decline in the coming decade. Among the findings:
- The slow workforce growth is due in part to the aging of the baby boomer generation, all of which will be age 65 by 2029.
- An increase of six million jobs is predicted by 2029.
- Labor force participation is expected to decline from 63.1% to 61.2%.
- Social services and healthcare will add the most new jobs in the coming decade. Of the 10 projected fastest-growing occupations, six are related to healthcare. Home health and personal care aides top the list.
- Outside of healthcare, information security analysts and statisticians are in greatest demand.
- Retail may lose the most jobs between now and 2029.