What do expected changes in U.S. job structure mean for states and workers in the Tenth District?
AbstractPublic interest in the future structure of the U.S. labor market has been understandably high in recent years, for several reasons. Some types of manufacturing and service jobs are going offshore. The recovery in employment from the 2001 recession has been sluggish. And the quality of job creation has been called into question. Against this backdrop, policymakers, businesses, workers, and students in the Tenth Federal Reserve District are asking difficult questions about the future of jobs in their area. Will local industries increase or decrease employment in the years ahead? What types of workers will be in highest demand? Are future jobs in the area likely to be high paying? Wilkerson looks at the potential impact of expected changes in U.S. job structure on employment in the Tenth District. Specifically, he analyzes the latest national industrial and occupational employment projections made by the U.S. Bureau of Labor Statistics and discusses what the projections mean for states and workers in the region—both in terms of quantity and quality of job growth through 2012. He draws two primary conclusions from the data. First, except in Colorado, the current industrial structures of Tenth District states are less favorable for future job growth than in the nation, although in some cases only slightly so. Second, the prospects for high-quality job growth in several district states may be somewhat lower than in the nation. While high paying jobs are projected to grow faster than low paying jobs across the district, the industrial structures of Kansas, New Mexico, Oklahoma, and Wyoming are not quite as conducive to growth in high paying jobs as in the country as a whole.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Kansas City in its journal Economic Review.
Volume (Year): (2005)
Issue (Month): Q II ()
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