Today I want to focus on the current job outlook in the United States. Basically, estimations on what jobs are expected to see the highest increase in new openings and overall growth. I figured we would start out on the high note! These are currently the Highest Paying Jobs in the United States.
| Occupation | Median Salary | Median Wage |
|---|---|---|
| Anesthesiologists | $261,730 | $125.83 |
| Surgeons | $252,040 | $121.17 |
| Orthodontists | $208,000 | $100.00 |
| Physicians | $203,450 | $97.81 |
| Dentists | $159,200 | $76.54 |
| Information Systems Managers | $146,360 | $70.37 |
| Engineering Managers | $144,830 | $69.63 |
| High Level Executives | $140,840 | $67.71 |
| Financial Managers | $129, 890 | $62.48 |
| Pilots | $121,430 | $58.38 |
| Judges | $120,090 | $57.74 |
| Nurse Practitioners | $109,820 | $52.80 |
It is easy to see that jobs in the Health Care field are leading the pack! They are easily followed by experienced managers of money, ideas, and data/information. But looking for the biggest paycheck isn’t all you need to be interested in when it comes to planning your career and life plan.
Since February of 2020, millions of people were laid off and lost their jobs. While most of this was due to COVID-19 and the economic destruction it caused it is important to remember that the job market is constantly evolving and adapting. This can be to new technology and automation or because the baby boomer population is staring to retire.
A 2019 report from the McKinsey Global Institute focused on the future of work in America specifically in regard to automation. Based on the research, they determined that less than 5% of current jobs could become completely automated. They also found that in around 60% of current jobs, a third of the work could potentially be transitioned to automation. Meaning that the current job would not be eliminated entirely, but it was transformed into a new role with similar and different duties.
This does not tell the full story either… Not all industries would be impacted on the same level and not all organization will be as fast to move towards automation. McKinsey “estimates that between almost zero and 30 percent of the hours worked globally could be automated by 2030”. The jobs at the highest risk of automation are those that use predictable, structured activities like operating simple machinery or preparing standard documents. Back office jobs like data entry, accounting, and simple legal transactions are big targets for future automation.
The more interactive a job is and the more expertise that is required to perform a task, the less impact automation will have in the near future. Humans’ ability to have compassion and problem solve is hard to match with an automated piece of machinery. So if you learn to manage people or have a high level of expertise your jobs are not likely to fall into automation.
| Occupation | Projected # of New Jobs | Median Salary |
|---|---|---|
| Home Health Care Aides | 1,159,500 | $25,280 |
| Fast Food Workers | 460,900 | $22,740 |
| Cooks/Chefs | 327,300 | $27,790 |
| Software Developers | 316,000 | $107,510 |
| Registered Nurses | 221,900 | $73,300 |
| Operation Managers | 143,800 | $100,780 |
| Medical Assistants | 139,200 | $34,800 |
| Health Services Managers | 133,200 | $100,780 |
| Market Research Analysts | 130,300 | $63,790 |
| General Laborers | 125,700 | $29,510 |
The Bureau of Labor Statistics with the Department of Labor anticipates 6 million new jobs in the is current decade. The aging of the baby boomer populations is creating a higher demand for health care workers across the country. It is estimated that 35 million new jobs could be needed by 2030 just to provide the care needed for this older generation. We can already see the shift starting to happen if we look at the BLS data on Home Health Care Aides. Over a million new openings in the next 10 years for home health care.
| Occupation | Projected Growth Rate | Median Salary |
|---|---|---|
| Wind Turbine Technicians | 61% | $52,910 |
| Nurse Practitioners | 52% | $109,820 |
| Solar Installers | 51% | $44,890 |
| Occupational Therapy Assistants | 35% | $61,510 |
| Statisticians | 35% | $91,160 |
| Home Health Care Aides | 34% | $25,280 |
| Physical Therapist Assistants | 33% | $58,790 |
| Health Services Managers | 32% | $100,980 |
| Physician Assistants | 31% | $112,260 |
| Information Security Analysts | 31% | $99,730 |
The trickle-down effect then comes into play… As millions more need access to home health care, more hospitals, clinics, and equipment is needed to sustain that. So, we will see and increase in skilled trade labor. Construction Management, Electricians, Plumbers, Engineers, all will be needed to design and build the infrastructure needed to care for the baby boomers. Not to mention the housing shortages and smaller city’s being developed into metropolitans.
McKinsey’s research supports that “with sufficient growth, innovation, and investment, there can be enough new job creation to offset the impact of automation”. So there will be enough jobs in the future, it will just be based on if you have the needed skills and the expertise to transition to new jobs that become available. This might even include needing to relocate to a new state. We can easily see which States have the largest number of people employed are California, Florida, New York, and Texas.
We can easily see which States have the largest number of people employed are California, Florida, New York, and Texas. But we know that a large portion of Californians are moving to Texas and Colorado. Change is always in the air but there is hope for the future, it all depends on where you are, and where you are willing to go or learn.
Resources:
“Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Highest Paying Occupations, on the Internet at https://www.bls.gov/ooh/highest-paying.htm (visited February 28, 2021).”
“Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Highest Paying Occupations, on the Internet at https://www.bls.gov/ooh/fastest-growing.htm (visited February 28, 2021).”
What the future of work will mean for jobs, skills, and wages: Jobs lost, jobs gained | McKinsey https://www.mckinsey.com/featured-insights/future-of-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs-skills-and-wages
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