Since the recent recession, labor force participation rates among older workers, age 55 and older, have increased while labor force participation rates among workers ages 16 to 24 have decreased. In management, business, and financial occupations, 4. Service occupations are increasingly responsible for U.
In management, business, and financial occupations, 4. Meanwhile, projections suggest that the manufacturing industry will lose , jobs, while mining will gain a modest 80, new jobs over the next decade. Economic and wealth disparities are partially a result of declining rates of unionization, stagnation in wages, increasing health care costs, and tax policies that favor the wealthy. The proportion of STEM professionals will increase from In , the first year for which comparable data is available, That number fell to 33 percent by Even with this new growth, employment in the construction sector is not expected to return to its peak of An aging population of workers and a population of young workers unable to find entry-level employment will likely cause significant changes to the labor market in the near future. These losses are even more pronounced among women of color. In October , Amongst goods-producing industries, projections expect construction to grow by , new jobs. These increases would lead to reductions in poverty by 84 percent for single women, 50 percent for single mothers, and 62 percent for married women. Economic uncertainty, low-wages, and inadequate retirement plans are just some of the reasons why older workers continue to work past retirement. Work in the U. While projections indicate that there will be , more office and administrative support jobs by , the occupation group lost 1. Many of the unions organizing in industries dominated by women, such as education and government, consistently show much higher win rates than those unions organizing in industries with fewer female members. Eighty percent of elementary and middle schoolteachers were women, yet their median earnings were 89 percent of those for men in In May , the unemployment rate for workers ages 16 to 19 was 16 percent. The unemployment rate in May was 4. By , that number fell to Amongst goods-producing industries, projections expect construction to grow by , new jobs. Service occupations are increasingly responsible for U. In , the wealthiest one percent held more than one-third of the combined wealth in the U. Labor Market Overview Work in Focus: Much of this growth will come from the 3.
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