40+ Job Growth Statistics, Facts & Trends [2024]

March 4, 2024 0 Comments

Is the job market growing?

What does the future job landscape look like?

According to data, there has been a net job loss of 8.7 million between 2020 and 2021.

There are 158.1 million jobs in the US today. 

Jobs are expected to increase by 8.4 million by the end of the decade. 

Wondering about Job Market Momentum?

Here’s a glimpse into job growth statistics that shape tomorrow’s opportunities.

Top Job Growth Statistics: Editor’s Pick

total job loss due to Covid in the US is 9 million
  1. The leisure and hospitality industry has seen a major boost of 179,000 new jobs. [3]
  2. The fastest-growing job is nurse practitioner, with a projected job growth of 45.7 % between 2021-2031. [2]
  3. The fastest growing but the lowest paying jobs are fast food & counter workers and bartenders with growth rates of 15% and 32% respectively. [4]
  4. 2.28 million new jobs were added between 2018 and 2019. [11]
  5. 1.5 million jobs were lost in the month of March 2020. [5]
  6. Alaska has the lowest number of new jobs from 2021 to 2022, only 5,600. [8]
  7. The total number of jobs is expected to reach 166.5 million by 2031 in the US. [1]

Job Growth Statistics By Industry

Curious to find out which industry is booming?

Is your industry one of them?

There has been no job growth in the information and utility sectors. [3]

The leisure and hospitality industry has seen a major boost of 179,000 new jobs. [3]

Are you wondering how’s this possible as Covid shut this industry for two years?

It is surprising to note that not just the leisure & hospitality sector created new jobs, it was one of the top sectors that lost the most jobs (about 1.5 million) during Covid. [3]

The next in line is the education & health industry with a growth of 112,000 as of February 2022. [3]

The professional & business industry has gained about 95,000 in the last few years. [3]

job growth statistic by industry

What Are The Fastest Growing Jobs?

Which sector will provide the highest number of jobs in the coming years?

Will your sector bloom with jobs?

The fastest-growing job is nurse practitioner, with a projected job growth of 45.7 % between 2021-2031. [2]

Nurse Practitioners are also the fastest growing jobs with the highest pay. [2]

Next in line is wind turbine service technicians with 44.3% growth by 2031. [2]

Ushers, lobby attendants, and ticket takers are growing occupations with a 40.5% growth rate by 2031. [2]

The fastest growing but the lowest paying jobs are fast food & counter workers and bartenders with growth rates of 15% and 32% respectively. [4]

Other growing jobs with high pay include physician assistants (27.6%) and software developers (22.5%) with an average salary of about $110k. [4]

Here is a list of the fastest-growing jobs by 2031 with their current annual wages.

Jobs Predicted Job Growth Rate % (2021-2031)Avg. Annual Wage 2021
Nurse Practitioner45.7$120,680
Wind Turbine Service Technician44.3$56,260
Usher, Lobby Attendant, & Ticket Taker40.5$24,440
Motion Picture Projectionist40.3$29,350
Restaurant Cook36.6$30,010
Data Scientist35.8$100,910
Athletes and sports competitors35.7$77,300
Information security analysts34.7$102,600
Statisticians32.7$95,570
Umpires, referees, and other sports officials31.7$35,860
Web developers30.3$77,030

What Are The Fastest Depleting Jobs?

word processors and typists are the fastest-depleting jobs

AI is taking over jobs, do you know who is suffering the most?

Word processors and typists are the fastest depleting jobs with a growth rate of -38.2%. [10]

It is projected that two-thirds of employees working as word processors and typists are going to be laid off in the next ten years. [10]

The second fast-depleting job is the parking enforcement worker with a rate of -37.1%. [10]

Here we have curated a list of the fastest-depleting jobs by 2031 with their current annual wages.

Jobs Predicted Job Growth Rate % (2021-2031)Avg. Annual Wage 2021
Word processors and typists-38.2$44,030
Parking enforcement workers-37.1$46,590
Cutters and trimmers, hand-28.4$30,230
Nuclear power reactor operators-26.8$104,260
Print binding and finishing workers-24.8$36,590
Watch and clock repairers-24.7$44,250
Data entry keyers-24.7$35,630
Telephone operators-24.5$37,630
Switchboard operators, including answering service-24.0$30,150
Electronic equipment installers and repairers, motor vehicles-23.4$40,670

Change in Job Growth Scenario Over Time

The job growth between 2016 and 2020 was consistent. The job market witnessed a major setback during Covid.

2.28 million new jobs were added between 2018 and 2019. [11]

There was a slight increment between 2019 and 2020 with 2.3 million new jobs. [11]

Job Growth Statistics During Covid

  • Due to Covid, April 2020 saw the highest decrement in jobs since 2015, with 20.49 million jobs lost. [5]
  • 1.5 million jobs were lost in the month of March 2020. [5]
  • During the pandemic, the Government sector lost 681k jobs and the Education and Health Services sector lost 514k jobs. [5]
  • It is surprising to note that June 2020 saw 4.51 million new jobs. [5]
  • There has been a net job loss of 8.7 million between 2020 and 2021. [7]
  • Total job loss due to Covid in the US is 9 million. [7]

Post-Covid Job Growth Statistics

As of September 2022, the number of jobs available in the US is only 9.5% more than pre-Covid. [7]

Unemployment rates improved from 14.7% in April 2020 to 3.8% (6.3 million people) in 2022. [7]

Economic, health, and geopolitical trends have been reported to create divergent outcomes for labor markets in 2023 worldwide. [13]

US job growth slowed by 30% in October 2023. [12]

There is an increment in total U.S. nonfarm payroll employment by 187k in August 2023. The unemployment rate increased slightly to 3.8%. [13]

US Job Growth Statistics By State

  • California has reported job growth of 1.2 million new jobs between 2021 and 2022. [8]
  • Texas has reported 702,800 new jobs from 2021 to 2022.
  • New York has recorded 497,900 new jobs from 2021 to 2022.
  • Alaska has the lowest number of new jobs from 2021 to 2022, only 5,600.
  • Delaware and South Dakota have witnessed a job growth of only 8,700 and 7,900 new jobs respectively.

If we categorize workers into age groups, people aged between 25 and 34 take the most jobs, while it is projected that the scenario will shift to the age group 35-44 by 2030. [6]

US working population by age

US Job Growth Projections by 2031

There are 158.1 million jobs in the US today. [1]

Jobs are expected to increase by 8.4 million by the end of the decade. [1]

The total number of jobs is expected to reach 166.5 million by 2031 in the US. [1]

US Job Growth Predictions By State

  • Nevada has the fastest job growth rate of 5.1% projection (2021-2031) in the US. [8]
  • The major factor behind the job growth in Nevada is a 38.9% increase in the clean energy sector. [8]
  • With their high population rates, the next comes Florida and Texas with a job rise projection of 4.6%  by 2031. [9]
  • The least job growth states are West Virginia and Maryland with growth rates as low as 0.4% and 0.7% respectively. [9]
  • Ohio is projected to give rise to only 1.4% of jobs by 2031, with a projected number of new jobs as 77,800. [9]

 Here we have curated a list of job growth projections between 2021 to 2031 with the number of new jobs for major US States.

StatePercentage of Job Growth (2021-2031)New Jobs Projection
Nevada5.174,700
Florida4.6427,400
Texas4.6611,400
Hawaii4.024,400
Washington3.5122,500
Tennessee3.2103,300
Utah3.2103,300
Alaska3.19,700
Tennessee3.024,900
North Carolina3.0144,100
Louisiana1.935,500
Wisconsin1.750,300
District of Columbia1.713,000
Connecticut1.728,700
Colorado1.646,700
Iowa1.522,800
Mississippi1.517,600
Ohio1.477,800
Maryland0.718,200
West Virginia0.42,500

FAQs

What are the latest job growth statistics in the US?

Jobs are expected to increase by 8.4 million by the end of the decade. The total number of jobs is expected to reach 166.5 million by 2031 in the US. 

Which are the fastest-growing jobs?

Nurse Practitioners are also the fastest growing jobs with the highest pay. Next in line is wind turbine service technicians with 44.3% growth by 2031.

Which are the fastest-depleting jobs?

Word processors and typists are the fastest depleting jobs with a growth rate of -38.2%. The second fast-depleting job is the parking enforcement worker with a rate of -37.1%.

What are US state job growth projections for 2031?

Nevada has the fastest job growth rate of 5.1% projection (2021-2031) in the US.

With their high population rates, the next comes Florida and Texas with a job rise projection of 4.6%  by 2031. 

The least job growth states are West Virginia and Maryland with growth rates as low as 0.4% and 0.7% respectively.

Wrapping Up 

There has been consistent growth in jobs pre-pandemic. But the job market shattered when 9 million jobs were lost in Covid. Unemployment rates improved from 14.7% in April 2020 to 3.8% (6.3 million people) in 2022.

AI is a  major factor affecting job growth. AI is expected to create job loss for many workers.  Two-thirds of employees working as word processors and typists are going to be laid off in the next ten years. 

Nurse Practitioners are also the fastest growing jobs with the highest pay. Next in line is wind turbine service technicians with 44.3% growth by 2031. The total number of jobs is expected to reach 166.5 million by 2031 in the US.

Sources

  1. BLS. Employment Projections: 2010-20 News Release
  2. BLS. Fastest Growing Occupations
  3. BLS. The Employment Situation
  4. BLS. Hours, and Earnings from the Current Employment Statistics survey (National)
  5. BLS. State and Metro Area Employment, Hours, & Earnings
  6. OECD. Working age population
  7. EPI. Jobs and unemployment
  8. ASU. Job Growth by State
  9. The Balance. Jobs Report and the Monthly Employment Growth Statistics
  10. CNBC. Here are the 15 jobs disappearing the fastest in the US
  11. World Economic Forum. The Future of Jobs Report 2023
  12. LinkedIn. US job growth slowed in October
  13. The New York Times. Job Growth Slows, Sowing a Mix of Concern and Calm