More than 8 million jobs will be added to the US economy over the next decade – Grand Forks Herald

More than 8 million jobs will be added to the US economy over the next decade – Grand Forks Herald

According to the US Bureau of Labor Statistics, the US economy is expected to add 8.3 million jobs between 2021 and 2031.

Total employment is expected to increase from 158.1 million to 166.5 million and grow at 0.5% per year, slower than the 1% annual growth rate in the previous decade.

The projections use the annual average employment level for 2021 as the base year, the BLS said in a press release on Thursday, Sept. 8.

It said the 2021 annual average levels do not reflect much of the job recovery and redistribution that has already taken place in the wake of the COVID-19 pandemic and associated recession, but noted that the pandemic has been a catalyst for some structural changes in the demand for certain goods and services.

These are expected to affect long-term employment demand in a select group of industries and occupations.

For example, the leisure and hospitality sector is expected to experience the fastest employment growth of all sectors, mainly due to the low basis point in 2021. The health and social assistance sector is expected to create the most jobs over the next ten years, growing in line with the proportion of the population aged 65 and over.

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