Report: High-Wage Jobs Expected to See Higher Growth Than Low Wage
Black Enterprise Magazine July/August 2018 Issue

(Image: Thinkstock)

CareerBuilder and Economic Modeling Specialists (EMSI) released a new report projecting the fastest-growing occupations and metro areas from 2013 to 2017. It includes a detailed analysis on projected growth by wage group and education requirements:

Key findings:

  • The U.S. workforce is projected to grow at a faster rate than the 2009-2013 period, but will still trail pre-recession growth. The strongest projected growth is often found in occupations related to health care, energy and information technology.
  • At 5%, high-wage occupations are expected to grow faster than low-wage and middle-wage occupations.
  • 75% of the 165 occupations expected to lose jobs nationally are in the middle-wage category.
  • Occupations requiring college degrees are expected to grow significantly faster than those that do not. For example, associate degree and master’s degree occupations are each projected to grow 8 percent while jobs requiring short-term, on-the-job training trail at 4 percent.
  • 23 of the 52 largest metro areas will outpace the projected national rate of job growth.

Other employment findings:

  • 11 million people are unemployed in the U.S. today, but 45% of HR managers can’t find qualified candidates for their open positions.
  • 8 in 10 employers are concerned about the growing skills gap, but only 4 in 10 are doing something about it..
  • 1 in 4 companies have lost revenue due to extended job vacancies
  • Nearly half of U.S. companies spend less than $68 per day on training employees
  • Retaining talent is critical. A 10% increase in customer service workers who stay with a firm at least five years is associated with $16 million dollars in value added.

Join the Conversation

Janell Hazelwood

Janell Hazelwood is associate managing editor at Black Enterprise, managing content across core areas of Money, Career, Small Business and Technology. She is also a featured blogger with My Two Cents, providing insights on branding, millennial career development, employment trends and leadership. She was previously a content producer and copy editor for Black Enterprise magazine, working across several editorial sections. The Hampton University graduate got her start in the newspaper industry, having worked for companies including The New York Times and Scripps Howard News Service. Her works and insights have appeared on The Huffington Post, MadameNoire, E!Online, Brazen Careerist, CBS News, and Arise TV.