WHERE THE JOBS WILL BE FOUND
· Texas population growth and steady home prices will set the stage for new jobs.
· WEST – Job gains will seem robust partly because the losses were to deep during the recession.
· NORTHEAST – Finance employment has not fallen as much as was feared, so there are fewer jobs to add back.
· RUST BELT – Manufacturing continues to decline. Green tech is looked to as a savior.
NUMBER OF UNEMPLOYED PEOPLE PER JOB OPENING IN INDUSTRY
· Education and Health 2.3
· Government 2.3
· Professional and Business Services 3.5
· Information 3.8
· Financial 4.0
· Wholesale and Retail Trade 6.4
· Leisure and Hospitality 7.2
· Manufacturing and Nondurable Goods 7.5
· Transportation and Utilities 11.3
· Oil and Gas Extraction and Mining 14.2
· Manufacturing of Durable Goods 16.0
· Construction 34.8
Metro areas expected to increase annual growth in employment over the next 4 years by over 3% include:
· Austin, TX
· Dallas, TX
· Riverside, CA
· Las Vegas, NV
· Nashville, TN
· Atlanta, GA
· Tampa, FL
· Orlando, FL
· Charlotte, NC
· Raleigh, NC
Those projected to increase annual growth in employment by 2% - 3% include:
· Columbus, OH
· Indianapolis, IN
· Kansas City, KS
· Memphis, TN
· Birmingham. AL
· Oklahoma City, OK
· Baltimore, MD
· Washington, DC
· Virginia Beach, VA
· Jacksonville, FL
· Miami, FL
· Houston, TX
· San Antonio, TX
· Phoenix, AZ
· Tucson, AZ
· Salt Lake City, UT
· Seattle, WA
· Portland, AZ
· Sacramento, CA
· San Francisco, CA
· San Jose, CA
· Los Angeles, CA
· San Diego, CA
WHAT THE JOBS WILL BE ADDED AND SUBTRACTED IN THE NEXT 4 YEARS
· EDUCATION AND HEALTH +1.2M
o Educational Services –42,000
· BUSINESS
o Professional, Scientific, and Technical +1.1 million
o Real Estate +135,000
o Finance and Insurance +44,000
o Management of Companies –63,000
o Retail – Motor Vehicles +116,000
o Retail – Food and Beverage –13,000
o Retail Gasoline –111,000
· DURABLE GOODS MANUFACTURING
o Transportation +395,000
o Machinery +164,000
o Wood Products +162,000
o Computers and Electronics +89,000
o Primary Metals +83,000
o Furniture and Related Goods +68,000
· NONDURABLE GOODS MANUFACTURING
o Food +59,000
o Paper and Paper Products +24,000
o Chemicals +22,000
o Beverages and Tobacco -9,000
o Petroleum and Coal Products -9,000
o Apparel -19,000
o Printing and Related Support -44,000
· LEISURE AND HOSPITALITY
o Accommodation and Food Services +522,000
o Arts, Entertainment, and Recreation +74,000
· OTHER
o Construction +685,000
o Transportation and Warehousing +600,000
o Publishing -14,000
o Utilities -32,000
· GOVERNMENT
o State and Local +439,000
o Federal -123,000
· NATURAL RESOURCES
o Logging +9,000
o Mining -50,000
Source: IRS Global Insight – projections are based on a large scale macroeconomic model of the US, its regions, and its industries.
March 29th, 2010 issue of Time Magazine
“JOBS, Where They Are and How to Find Them
By Barbara Kiviat
