In an article using the US Bureau of Labor Statistics, the analyst presented the fastest growing and declining job categories in this decade.
The economic health of every community-rural. small town or major urban center-depends on its employment opportunities.
Most credit unions were chartered around places of employment. Corporations such as IBM or International Harvester had dozens of separate credit unions at their numerous work sites. Then when the layoffs, restructuring or even bankruptcies occurred, the credit unions had to change their focus or go out of business.
Employment prospects are critical for every member. Working from home versus commuting or being on the road is now of interest to more persons who have experienced this option during the Covid disruptions.
Credit unions are most critical for members when they first enter the work force, earning income and learning to be their own financial stewards. Some credit unions begin this relationship even earlier with student loan options.
The demographics of job growth affects every one, their communities and almost all organizations that depend on a vibrant economy.
The table below forecasts where the new jobs will be, their rate of growth, and median salaries. Each geographic area will have its own pattern. But this fundamental economic characteristic should be part of every credit union’s planning process.
|Occupation||Percent employment change, 2020–2030P||Numeric employment change, 2020-2030P||Median annual wage, 2020|
|Wind turbine service technicians||68.2%||4,700||$56,230|
|Solar photovoltaic installers||52.1%||6,100||$46,470|
|Physical therapist assistants||35.4%||33,200||$59,770|
|Information security analysts||33.3%||47,100||$103,590|
|Home health and personal care aides||32.6%||1,129,900||$27,080|
|Medical and health services managers||32.5%||139,600||$104,280|
|Data scientists and mathematical science occupations, all other||31.4%||19,800||$98,230|
The full article includes graphs, a table of the fastest declining jobs (parking meter enforcement) and the implications for education and employer job structures.