The United States Department of Labor undertook a long-term assessment of employment data to develop a prognosis of the American marketplace from 2010 to 2019. The Bureau of Labor Statistics has published the results of those findings to show which markets will be subject to the greatest losses in the upcoming decade.
The USDOL says that because the median population age is higher and the manufacturing sector is waning, the majority of the country’s new employment will come in the service sector — such as health care services or business services — which are projected to make up a whopping 96 percent of the increase in new employment.
Conversely, an increase in these sectors will mean a substantial job reduction in others. These are the areas that should see the greatest shrinkage in the coming years:
- Wired telecommunications carriers – 73,000
- Gasoline stations – 75,000
- Support activities for mining – 76,000
- Newspaper publishers – 81,000, 25 percent loss in next decade
- Cut and sew apparel manufacturing – 89,000, 57 percent loss
- Printing and related support activities – 95,000, 16 percent loss
- Postal Service – 98,000, 13 percent loss
- Auto parts manufacturing –101,000, 19 percent loss
- semiconductor and other electronic component manufacturing – 146,000, 34 percent loss
- Department Stores – 159,000 loss of more than 10 percent
