New Jersey Industry and Occupational Employment Projections 2008-2018.
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Transcript of New Jersey Industry and Occupational Employment Projections 2008-2018.
![Page 1: New Jersey Industry and Occupational Employment Projections 2008-2018.](https://reader036.fdocuments.us/reader036/viewer/2022070305/5515563c55034674578b45d4/html5/thumbnails/1.jpg)
New Jersey
Industry and Occupational
Employment Projections2008-2018
![Page 2: New Jersey Industry and Occupational Employment Projections 2008-2018.](https://reader036.fdocuments.us/reader036/viewer/2022070305/5515563c55034674578b45d4/html5/thumbnails/2.jpg)
Annual Employment Change in New Jersey
1939-2009
Em
plo
ymen
t C
han
ge
(000s)
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For the first time ever, NJ ended a decade with fewer jobs than it started
Em
plo
ymen
t C
han
ge
(000s)
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3 Recessions1 Boom1 Jobless Recovery
Em
plo
ymen
t (0
00s)
3,689,800
3,981,700
=Very little net growth in NJ over last 20 years
About 200,000 jobsOnly 0.26% annual
growth
![Page 5: New Jersey Industry and Occupational Employment Projections 2008-2018.](https://reader036.fdocuments.us/reader036/viewer/2022070305/5515563c55034674578b45d4/html5/thumbnails/5.jpg)
US and NJ projections viewed as upper and lower bounds
Em
plo
ymen
t (0
00s)
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Growth in the nation is projected to outpace the state
An
nu
al
Perc
en
t G
row
th
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Goods Producing industries will continue their decline
An
nu
al
Perc
en
t G
row
th
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All growth will occur in Service Providing industries
An
nu
al
Perc
en
t G
row
th
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Growth in Service Providing industries will be offset by declines in Goods Producing industries
Em
plo
ymen
t g
row
th ‘08 –
‘18
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Very slight growth is projected in Goods Producing industries in the nation
Em
plo
ymen
t g
row
th ‘08 –
’18 (
000s)
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Projected growth by major industry group
An
nu
al
Perc
en
t G
row
th
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Goods Producing Industries
An
nu
al
Gro
wth
R
ate
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Deep losses in manufacturing will continue to drive Goods Producing industries downward
Pro
ject
ed
Em
plo
ymen
t C
han
ge 2
00
8-
201
8
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These industries are the largest contributors to the decline in manufacturing
Pro
ject
ed
Em
plo
ymen
t C
han
ge 2
00
8-2
018
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Sharp drop in 2009 will create a long road back to 2006 peak for Construction
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Service Providing Industries
An
nu
al
Gro
wth
Rate
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2008 employment and projected growth by industry
sector
Information and Utilities are
projected to decline by almost 14,000
jobs
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Almost 90% of new jobs will be found in these three industry sectors
Pro
ject
ed
Em
plo
ymen
t C
han
ge 2
00
8-2
018
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Healthcare will continue to grow, but the rate is slowing
Em
plo
ymen
t (0
00s) 2.7%
per year1.4%
per year
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These typically higher paying industries are projected to add at least 2,000 jobs each
Professional & Business ServicesP
roje
cted
Em
plo
ymen
t C
han
ge 2
00
8-2
018
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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
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Professional and Service occupations will dominate job growth
Major Occupational GroupPro
ject
ed
Em
plo
ymen
t C
han
ge 2
00
8-2
018
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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
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Professional occupations are made up of many smaller groups
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Service occupations consist of five occupational groups
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Jobs with higher requirements for entry will grow faster than their lower level counterparts
Percent Growth 2008-2018 Percent Growth 2008-2018
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These high paying occupations are all projected to grow faster than the state average
Percent Growth 2008-2018
$173,800
$154,100
$137,900
$112,900$105,000
$100,200
$96,200
$94,900 $90,100
$87,100
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Questions or Comments?
Contact Jason TimianCall: 609-777-3635
E-mail:[email protected]
On the Web at:www.nj.gov/labor