Labor Market Overview Work in Focus: Globalization and macro-economic forces have contributed to a continuing shift in the U. Demographic shifts, technological advancements, and a decline in unionization have all been driving changes in the U. To explore what these changes mean for working people, this fact sheet will outline: Work in the U. Past and Present Since the s, the U. Service occupations are increasingly responsible for U. Increased automation and offshoring of manufacturing jobs has contributed to the reduction in the number of U.
That number fell to 33 percent by Over the last decade, from to , management, professional, and related occupations grew from This increased polarization has the potential to exacerbate income and wealth disparities in the long run. In , women were The BLS anticipates uneven job growth across the U.
Since the recent recession, labor force participation rates among older workers, age 55 and older, have increased while labor force participation rates among workers ages 16 to 24 have decreased. Much of this growth will come from the 3. Amongst goods-producing industries, projections expect construction to grow by , new jobs. Even with this new growth, employment in the construction sector is not expected to return to its peak of Meanwhile, projections suggest that the manufacturing industry will lose , jobs, while mining will gain a modest 80, new jobs over the next decade.
Population growth amongst school-aged children and an increased demand for post-secondary education and training will both contribute to a projected 7. Projections indicate an additional , more jobs in this field by The BLS projects that computer and mathematical occupations will experience The proportion of STEM professionals will increase from Consequently, much of the expected growth in these fields will represent recovery from that contraction.
While projections indicate that there will be , more office and administrative support jobs by , the occupation group lost 1. Economic and wealth disparities are partially a result of declining rates of unionization, stagnation in wages, increasing health care costs, and tax policies that favor the wealthy. In , the wealthiest one percent held more than one-third of the combined wealth in the U.
The unemployment rate in May was 4. These workers represent those forced to either take part-time work, or stopped looking for work within the last 12 months. Thus, the top one percent of income earners captured slightly over two-thirds of the overall economic growth of real incomes per family between and Unfortunately, this occupational group fared best in the last decade, as workers in service occupations, sales and office occupations, natural resources, construction, and maintenance occupations, and transportation and material moving occupations all experienced a decline in real wages from to Barriers to Entry and Exit Many older workers, particularly those of the baby boomer generation those born between and are remaining in the labor market long after the typical age of retirement.
Economic uncertainty, low-wages, and inadequate retirement plans are just some of the reasons why older workers continue to work past retirement. Meanwhile, young workers, ages 16 to 24, face entry barriers in one of the most difficult labor markets in recent history.
An aging population of workers and a population of young workers unable to find entry-level employment will likely cause significant changes to the labor market in the near future. In May , the unemployment rate for workers ages 16 to 19 was 16 percent. For workers aged 20 to 24, 8. In October , These losses are even more pronounced among women of color. Eighty percent of elementary and middle schoolteachers were women, yet their median earnings were 89 percent of those for men in In counseling, 71 percent of workers were women and their median earnings for were.
The Pew Research Center found that in 40 percent of households with children, a woman was the sole or primary earner. These increases would lead to reductions in poverty by 84 percent for single women, 50 percent for single mothers, and 62 percent for married women. In , median weekly earnings for Black and African American women were In , the first year for which comparable data is available, By , that number fell to While goods-producing industries once represented the highest proportion of unionized workers, public sector professionals now make up a majority of union members.
In management, business, and financial occupations, 4. In occupations with the lowest rates of unionization, agricultural and related industries, and farming, fishing, and forestry occupations, union members only represented 1.
This is a much smaller gap than when Many of the unions organizing in industries dominated by women, such as education and government, consistently show much higher win rates than those unions organizing in industries with fewer female members.
While RTW laws are not necessarily the direct cause of these disparities, they are often part of a package of statutes and policies that weaken the bargaining power of workers.
In the aggregate, union members reported