Connect with us

Economy

The 20 Fastest Growing Jobs in the Next Decade

Published

on

Fastest Growing Jobs in the Next Decade

Can I share this graphic?
Yes. Visualizations are free to share and post in their original form across the web—even for publishers. Please link back to this page and attribute Visual Capitalist.
When do I need a license?
Licenses are required for some commercial uses, translations, or layout modifications. You can even whitelabel our visualizations. Explore your options.
Interested in this piece?
Click here to license this visualization.

How is the Job Market Shifting Over the Next Decade?

The employment landscape is constantly shifting. While agricultural jobs played a big role in the 19th century, a large portion of U.S. jobs today are in administration, sales, or transportation. So how can job seekers identify the fastest growing jobs of the future?

The U.S. Bureau of Labor Statistics (BLS) projects there will be 11.9 million new jobs created from 2020 to 2030, an overall growth rate of 7.7%. However, some jobs have a growth rate that far exceeds this level. In this graphic, we use BLS data to show the fastest growing jobs—and fastest declining jobs—and how much they each pay.

The Top 20 Fastest Growing Jobs

We used the dataset that excludes occupations with above average cyclical recovery from the COVID-19 pandemic. For example, jobs such as motion picture projectionists, ticket takers, and restaurant cooks were removed. Once these exclusions were made, the resulting list reflects long-term structural growth.

Here are the fastest growing jobs from 2020 to 2030, along with the number of jobs that will be created and the median pay for the position.

OccupationPercent employment change, 2020–2030PNumeric employment change, 2020-2030PMedian annual wage, 2020
Wind turbine service technicians68.2%4,700$56,230
Nurse practitioners52.2%114,900$111,680
Solar photovoltaic installers52.1%6,100$46,470
Statisticians35.4%14,900$92,270
Physical therapist assistants35.4%33,200$59,770
Information security analysts33.3%47,100$103,590
Home health and personal care aides32.6%1,129,900$27,080
Medical and health services managers32.5%139,600$104,280
Data scientists and mathematical science occupations, all other31.4%19,800$98,230
Physician assistants31.0%40,100$115,390
Epidemiologists29.6%2,300$74,560
Logisticians29.5%56,400$76,270
Speech-language pathologists28.7%45,400$80,480
Animal trainers28.5%17,200$31,520
Computer numerically controlled tool programmers27.4%7,400$57,740
Genetic counselors26.2%600$85,700
Crematory operators and personal care and service workers, all other24.8%19,900$28,420
Operations research analysts24.6%25,600$86,200
Actuaries24.5%6,800$111,030
Health specialties teachers, post-secondary24.3%58,900$99,090

Wind turbine service technicians have the fastest growth rate, with solar photovoltaic (solar panel) installers taking the third slot. The rapid growth is driven by demand for renewable energy. However, because these are relatively small occupations, the two roles will account for about 11,000 new jobs collectively.

Nine of the top 20 fastest growing jobs are in healthcare or related fields, as the baby boomer population ages and chronic conditions are on the rise. Home health and personal care aides, who assist with routine healthcare tasks such as bathing and feeding, will account for over one million new jobs in the next decade. This will be almost 10% of all new jobs created between 2020 and 2030. Unfortunately, these workers are the lowest paid on the list.

Computer and math-related jobs are also expected to see high growth. The BLS expects strong demand for IT security and software development, partly because of the increase in people that are working from home.

The Top 20 Fastest Declining Jobs

Structural changes in the economy will cause some jobs to decline quite quickly. Here are the top 20 jobs where employment is expected to decline the fastest over the next decade.

OccupationPercent employment change, 2020–2030PNumeric employment change, 2020-2030PMedian annual wage, 2020
Word processors and typists-36.0%-16,300$41,050
Parking enforcement workers-35.0%-2,800$42,070
Nuclear power reactor operators-32.9%-1,800$104,040
Cutters and trimmers, hand-29.7%-2,400$31,630
Telephone operators-25.4%-1,200$37,710
Watch and clock repairers-24.9%-700$45,290
Door-to-door sales workers, news and street vendors, and related workers-24.1%-13,000$29,730
Switchboard operators, including answering service-22.7%-13,600$31,430
Data entry keyers-22.5%-35,600$34,440
Shoe machine operators and tenders-21.6%-1,100$30,630
Legal secretaries and administrative assistants-21.0%-33,600$48,980
Floral designers-20.1%-8,500$29,140
Executive secretaries and executive administrative assistants-18.7%-100,600$63,110
Manufactured building and mobile home installers-18.4%-600$35,120
Telemarketers-18.3%-21,900$27,920
Order clerks-18.2%-24,400$35,590
Timing device assemblers and adjusters-17.8%-200$36,170
Print binding and finishing workers-17.5%-7,300$34,260
Prepress technicians and workers-17.1%-4,800$41,410
Tellers-16.9%-73,100$32,620

Eight of the top 20 declining jobs are in office and administrative support. This could be cause for concern, given this category currently makes up almost 13% of employment in the U.S.—the largest of any major category. Jobs involved in the production of goods and services, as well as sales jobs, are also seeing declines.

In all cases, automation is likely the biggest culprit. For example, software that automatically converts audio to text will reduce the need for typists.

While the fastest declining jobs typically fall within the lower salary range, there is one outlier. Nuclear power reactor operators, who earn a salary of over $100,000, will see employment decline at a steep rate of -33%. No new nuclear plants have opened since the 1990s, and nuclear power faces steep competition from renewable energy sources.

Warning: Education Required

As the composition of employment shifts, it eliminates some jobs and creates others. For instance, while production jobs are declining, new opportunities exist for “computer numerically controlled tool programmers.” These workers develop programs to control the automated equipment that processes materials.

However, while many of the fastest growing jobs are higher paying, they typically also require advanced education.

Top 20 Fastest Growing JobsTop 20 Fastest Declining Jobs
# with median salary > $41,950175
# with post-secondary education required 160

Seventeen of the top 20 fastest growing jobs have a median salary higher than $41,950, which is the median salary for all jobs in total. Most also require post-secondary schooling. These opportunities are replacing jobs that only required a high school diploma.

With tuition costs soaring relative to inflation, this could create challenges for displaced workers or young people entering the workforce.

Click for Comments

Economy

The Bloc Effect: International Trade with Geopolitical Allies on the Rise

Rising geopolitical tensions are shaping the future of international trade, but what is the effect on trading among G7 and BRICS countries?

Published

on

Map showing the change in the share of a country’s exports going to their own trading blocs from 2018 to 2023.

Published

on

The following content is sponsored by The Hinrich Foundation

The Bloc Effect: International Trade with Allies on the Rise

International trade has become increasingly fragmented over the last five years as countries have shifted to trading more with their geopolitical allies.

This graphic from The Hinrich Foundation, the first in a three-part series covering the future of trade, provides visual context to the growing divide in trade in G7 and pre-expansion BRICS countries, which are used as proxies for geopolitical blocs.  

Trade Shifts in G7 and BRICS Countries

This analysis uses IMF data to examine differences in shares of exports within and between trading blocs from 2018 to 2023. For example, we looked at the percentage of China’s exports with other BRICS members as well as with G7 members to see how these proportions shifted in percentage points (pp) over time.

Countries traded nearly $270 billion more with allies in 2023 compared to 2018. This shift came at the expense of trade with rival blocs, which saw a decline of $314 billion.

CountryChange in Exports Within Bloc (pp)Change in Exports With Other Bloc (pp)
🇮🇳 India0.03.9
🇷🇺 Russia0.7-3.8
🇮🇹 Italy0.8-0.7
🇨🇦 Canada0.9-0.7
🇫🇷 France1.0-1.1
🇪🇺 EU1.1-1.5
🇩🇪 Germany1.4-2.1
🇿🇦 South Africa1.51.5
🇺🇸 U.S.1.6-0.4
🇯🇵 Japan2.0-1.7
🇨🇳 China2.1-5.2
🇧🇷 Brazil3.7-3.3
🇬🇧 UK10.20.5

All shifts reported are in percentage points. For example, the EU saw its share of exports to G7 countries rise from 74.3% in 2018 to 75.4% in 2023, which equates to a 1.1 percentage point increase. 

The UK saw the largest uptick in trading with other countries within the G7 (+10.2 percentage points), namely the EU, as the post-Brexit trade slump to the region recovered. 

Meanwhile, the U.S.-China trade dispute caused China’s share of exports to the G7 to fall by 5.2 percentage points from 2018 to 2023, the largest decline in our sample set. In fact, partly as a result of the conflict, the U.S. has by far the highest number of harmful tariffs in place. 

The Russia-Ukraine War and ensuing sanctions by the West contributed to Russia’s share of exports to the G7 falling by 3.8 percentage points over the same timeframe.  

India, South Africa, and the UK bucked the trend and continued to witness advances in exports with the opposing bloc. 

Average Trade Shifts of G7 and BRICS Blocs

Though results varied significantly on a country-by-country basis, the broader trend towards favoring geopolitical allies in international trade is clear.

BlocChange in Exports Within Bloc (pp)Change in Exports With Other Bloc (pp)
Average2.1-1.1
BRICS1.6-1.4
G7 incl. EU2.4-1.0

Overall, BRICS countries saw a larger shift away from exports with the other bloc, while for G7 countries the shift within their own bloc was more pronounced. This implies that though BRICS countries are trading less with the G7, they are relying more on trade partners outside their bloc to make up for the lost G7 share. 

A Global Shift in International Trade and Geopolitical Proximity

The movement towards strengthening trade relations based on geopolitical proximity is a global trend. 

The United Nations categorizes countries along a scale of geopolitical proximity based on UN voting records.

According to the organization’s analysis, international trade between geopolitically close countries rose from the first quarter of 2022 (when Russia first invaded Ukraine) to the third quarter of 2023 by over 6%. Conversely, trade with geopolitically distant countries declined.  

The second piece in this series will explore China’s gradual move away from using the U.S. dollar in trade settlements.

Visual Capitalist Logo

Visit the Hinrich Foundation to learn more about the future of geopolitical trade

Click for Comments

You may also like

Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Continue Reading
Appian-Capital

Subscribe

Popular