2019–2029 Economic and Employment Projections — 2020-09-01

Employment is projected to grow from 162.8 million to 168.8 million over the 2019�29 decade, an increase of 6.0 million jobs, the U.S. Bureau of Labor Statistics reported today. This reflects an annual growth rate of 0.4 percent, slower than the 2009-19 annual growth rate of 1.3 percent, which was bolstered by recovery from the 2007-09 Great Recession. The healthcare and social assistance sector is projected to add the most new jobs, and 6 of the 10 fastest growing occupations are related to healthcare. Growth in real Gross Domestic Product (GDP) is projected to be slower (1.8 percent annually) from 2019 to 2029, compared to the previous decade (2.3 percent annually). Meanwhile labor productivity is projected to increase from 1.1 percent annually over the 2009 to 2019 period, to 1.8 percent annually from 2019 to 2029. Highlights of the BLS projections for the labor force, macroeconomy, industry employment, and occupational employment are included below.