Making informed career decisions requires reliable information about opportunities in the future. Opportunities result from the relationships between the population, labor force, and the demand for goods and services.Population ultimately limits the size of the labor force—individuals working or looking for work—which limits the goods and services that can be produced.
Demand for various goods and services is largely responsible for employment in the industries providing them. Employment opportunities, in turn, result from demand for skills needed within specific industries. Opportunities for medical assistants and other healthcare occupations, for example, have surged in response to rapid growth in demand for health services.
Examining the past and present, and projecting changes in these relationships is the foundation of the Occupational Outlook Program. This chapter presents highlights of Bureau of Labor Statistics’ projections of the labor force and occupational and industry employment that can help guide your career plans. As the baby boomers continue to age, the 55 to 64 age group will increase by 30.3 percent or 9.5 million persons, more than any other group.
The 35 to 44 age group will decrease by 5.5 percent, reflecting a slowed birth rate following the baby boom generation, while the youth population, aged 16 to 24, will decline 1.1 percent over the 2006-2016 period.Minorities and immigrants will constitute a larger share of the U.S. population in 2016. The number of Asians and people of Hispanic origin are projected to continue to grow much faster than other racial and ethnic groups.
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