Job Growth Statistics in 2024: Top US Occupations and Industries

As new technologies enter the game, the US Job Growth Statistics is becoming a rollercoaster where the only constant is change and the employment rate is the thrill-seeker's best friend. As we dive through the latest stats, hold on tight because some occupations are shooting up the growth track so fast that you might miss out on great opportunities if you’re not prepared. So, let’s see what's really hot in the US job market right now!

What Are the Fastest Growing Occupations in the US?

According to the U.S. Bureau of Labor Statistics, these are the 10 jobs with the highest projected growth rate between 2022-32:

Wind turbine service technicians: With a projected growth of 45%, and a median annual wage of $57,320.

Nurse practitioners: With a projected growth of 45%, and a median salary of $121,610 per year.

Data scientists: With a projected growth of 35%, and a median wage of $103,500 per year.

Statisticians: With a projected growth of 32%, and a median annual salary of $98,920.

Information security analysts: With a projected growth of 32%, and a median annual wage of $112,000.

Medical and health services managers: With a projected growth of 28%, and a median salary of $104,830 per year.

Epidemiologists: With a projected growth of 27%, and a median wage of $78,520 per year.

Physician assistants: With a projected growth of 27%, and a median annual salary of $126,010.

Physical therapist assistants: With a projected growth of 26%, and a median annual wage of $62,770.

Software developers: With a projected growth of 26%, and a median salary of $127,260 per year.

What Are the Emerging Occupations Offering New Opportunities in the Job Market?

Out of the previously listed jobs, some of them can be attributed as emerging opportunities driven by innovation, technological advancements, and the current world trends:

Wind Turbine Service Technicians: With a whopping 45% projected growth, this occupation is at the forefront of the renewable energy wave, reflecting the United States’ shift towards sustainable energy sources.

Nurse Practitioners: Also with a 45% growth projection, this role is critical in addressing the healthcare sector's expansion, especially in primary care and specialized health services.

Data Scientists: With a 35% growth rate, data scientists are becoming increasingly vital due to the explosion of data and the need for sophisticated analysis to drive decision-making in various sectors.

Information Security Analysts: With a projected growth of 32%, these professionals are essential in an era where cyber threats are increasingly sophisticated and pervasive, highlighting the importance of cybersecurity.

Medical and Health Services Managers: With a 28% growth rate, this role is key to managing the expanding healthcare facilities and ensuring efficient and effective healthcare delivery.

Epidemiologists: With a 27% projected growth, their importance has been underscored by global health crises like the COVID-19 pandemic, highlighting the need for expertise in disease patterns and control measures.

Physician Assistants: With a 27% growth projection, they play a crucial role in expanding healthcare access, working closely with physicians to maximize the range of services.

Software Developers: With a 26% growth rate, a constant for the last decade, they continue to be in high demand due to the relentless pace of digital transformation across all industries.

Computer and Information Research Scientists: With a 23% growth rate, these professionals are at the cutting edge of computing and IT, driving innovations that underpin the tech industry's growth.

Solar Photovoltaic Installers: With a 22% projected growth, this job is pivotal in the solar energy sector's expansion, reflecting the broader trend towards renewable energy sources.

How Is the Employment Rate Evolving in the US?

A Trading Economics report (made with data from the BLS) revealed that the U.S. employment rate decreased from 60.2% in January 2023 to 60.1% in December 2023, with half of last year (March, April, July, August, September, and November) peaking at 60.4%.

While 60.1% is not an astonishing number, when viewed against the backdrop of historical data and recent trends, suggests a job market that has recovered from the pandemic lows (51.20%) in April 2020 when 20.49 million jobs were lost and is still performing above historical averages (59.24%) from 1948 until December 2023.

Which Industries Show the Most Promising Job Growth?

Employment growth can also depend on the industry and, once again, thanks to data from the BLS, we can see which industries grew the most from December 2022 to December 2023 and show the most promising data for 2024. In the top 5 we have:

Private Education and Health Services: The Private Education and Health Services was the biggest growing sector by December 2023 with 4.2%, a 1.05 million net change, and a total of over 25,878,000 people employed. The Healthcare industry was the leading industry growing by 3.9% and employing over 654,000 people, for a total of more than 17,245,300 people employed.

Government: The government industry is the second in this list with a 3% growth by December 2023, 672,000 net change, and a total of over 23 million people employed. 342,000 new employees went to work directly into Local Governments, making it the biggest sector compared to State and Federal governments.

Leisure and Hospitality: This industry grew by 2.9% with 466,000 net change and a total of more than 16.7 million people employed. The Accomodation and Food Services sector grew by 2.5% and makes up for nearly 14.3 million employees of this industry.

Construction: Construction grew by 2.5% and added over 197,000 net change, for a total of more than 8 million workers. The Specialty Trade Contractors sector grew by 2%, with most of its people working in the Nonresidential Specialty (over 2.7 million).

Professional and Business Services: The Professional and Business Services industry, although it didn’t grow much percentually with just 0.6%, it had a 132,000 net change, for a total of more than 22.9 million workers. Professional, Scientific and Technical Services was the leading sector in this industry, with a 2.5% growth, and nearly 11 million people employed.

What Does the Future Hold for Job Growth in America?

Based on the available data and current trends, the job market in 2032 is expected to be significantly influenced by several key factors, including technological advancements, healthcare needs, and demographic shifts. We will most likely witness notable changes in:

Healthcare Sector: The aging population and higher prevalence of chronic conditions are driving demand in healthcare occupations. Jobs like nurse practitioners and medical and health services managers are expected to see significant growth, driven by the need for more healthcare services for the elderly. However, the biggest change will be seen where healthcare meets technology. And while some may fear that AI and technology will replace most jobs, let’s say… with chatbots, the U.S. Healthcare Staffing Market (which is currently valued at $23.6 billion) is expected to grow by nearly 74.5% and hit $41.1 billion in 2032.

Technology and Data Analysis: The digital transformation across industries is fueling demand for jobs in the computer and mathematical occupational group, including data scientists and information security analysts. The expansion of businesses' digital presence and the increasing importance of cybersecurity are expected to drive job growth in these areas. So, if there’s an expected growth in employment it will definitely be experimented in this sector.

According to a report made by Precedence Research, the global Data Analytics Market which is valued at over $30 billion, is expected to have a Compound Annual Growth Rate (CAGR) of 29.4% for the next 10 years, meaning it will surpass around $393.55 billion by 2032. That’s a staggering 1211.2% growth in a decade!

Oh, and in case you were wondering, North America makes up around 45% of the market share so you can definitely expect some very huge opportunities in this industry.

Renewable Energy: The environmental crisis is calling for immediate action, and in the U.S, the transition towards more sustainable energy sources is evident in the projected growth for wind turbine service technicians and solar photovoltaic installers. In fact, by 2032, renewable energy is expected to make up 45% of the total U.S. generation mix replacing mainly coal powered generation according to Morning Star.

Are you ready for big numbers? The global renewable energy market, which was estimated at $970 billion in 2022, is expected to hit nearly $ 2.2 trillion by 2032 with a CAGR of 8.5% or a 125% total growth in 10 years. Even though the market is currently dominated by Asia Pacific, North America is expected to be the fastest-growing market during the next decade, and this means a big demand for skilled workers in these areas.

STEM Occupations: The demand for STEM-related occupations, encompassing science, technology, engineering, and math fields, is expected to grow by 10.8% between 2022 and 2032. This is due to the increasing need for services provided by STEM professionals, such as software development and data analysis.

Where Does Your State Stand in Job Growth?

As you can see, job growth can vary depending on the industry, but it can also vary depending on the state you’re in. So here are the top 5 states that led charge in 2023 according to data by the BLS:

Nevada: With a 3.8% growth rate.
Idaho: Growing by 3%.
South Dakota: Growing by 3%.
Wyoming: With a 2.8% growth rate.
Texas: Growing by 2.7%

However, being a state that significantly grew in employment rates doesn’t necessarily mean that it has the most people employed. The top 5 states with the biggest employment are:

California: With a total employment of over 18.1 million.
Texas: With a total employment of 14.1 million.
Florida: With a total employment of 9.8 million.
New York: With a total employment of 9.7 million.
Pennsylvania: With a total employment of around 6.2 million.

Which States Are Projected to Lag in Job Growth?

Even though some states are growing at a significant pace, some others seem to be lagging and the projections for the next 10 years suggest that the job growth will rather slow down. Some of these states are:

Oregon: According to state projections, the total employment will grow by just 10% throughout 2032. That’s an even slower outlook compared to the prior 10 years, when Oregon’s employment grew by roughly 18%. The main reasons for this deceleration are the state’s aging demographics and slowing population growth.

Virginia: Virginia is one of those states that’s constantly growing but at a much slower pace than the rest, leaving some serious questions about its future. According to the Old Dominion University’s State of the Commonwealth Report, one of the main reasons is that there are more people leaving Virginia - to look for opportunities elsewhere in the country, than there are people moving into the state.

Illinois: Illinois is also lagging compared to the rest of the nation, but with more serious issues added into the mix. By December 2023, the state’s unemployment rate tied for third-worst in the U.S. and also reported the second worst job growth rate among neighboring states from December 2022 at 0.9%. Illinois has had the second worst job recovery since the pandemic, a 10 year straight population decline, massive pension debt, and high tax volatility. Just Chicago alone has more pension debt than 44 entire states. This not only leaves Illinois with an uncertain future, but also leaves it as one of the worst-prepared states in the U.S. for future recessions.

Looking Ahead: What Are the Predictions for Job Markets in America?

The trend is clear, and while we can expect to see the biggest changes in the healthcare, technology, renewable energy, and STEM occupations sectors, the U.S. Department of Labor listed their top 10 occupational groups projected to grow the fastest from 2022 to 2032. Just in case you need to consider your options:

Healthcare Support: With a projected growth of 15.4%
Computer and Mathematical: With a 15.2% projected growth
Healthcare practitioners and Technical: With a projected growth of 8%
Community and Social Service: With a 7.8% projected growth
Life, Physical and Social Science: With a projected growth of 6.1%
Personal Care and Service: Also with a 6.1% projected growth.
Legal: With a projected growth of 5.9%
Business and Financial Operations: With a projected growth of 5.6%
Transportation and Material Moving: With a 5.4% projected growth
Management: Also with a projected growth of 5.4%

Final Thoughts

Wrapping up, it's evident that the U.S. is on a rollercoaster ride of growth, with every twist and turn bringing new opportunities. From the healthcare and technology halls to the renewable energy fields, the doors are wide open for those ready to leap. So, gear up, dream big, and let's ride into a future where your career possibilities are as vast as your will to succeed!