2018–2028 Economic and Employment Projections — 2019-09-04

Employment is projected to grow by 8.4 million jobs to 169.4 million jobs over the 2018�28 decade, the U.S. Bureau of Labor Statistics (BLS) reported today. This expansion reflects an annual growth rate of 0.5 percent, which is slower than the 2008�18 annual growth rate of 0.8 percent. An aging population and labor force will contribute to changes expected over the coming decade including a continued decline in the labor force participation rate and continued growth in employment in healthcare and related industries and occupations. Real Gross Domestic Product (GDP) is projected to grow at much the same rate from 2018 to 2028 as it did in the previous decade; labor productivity is projected to accelerate slightly from the previous decade to an annual rate of 1.6 percent, higher than the previous decade's annual rate of 1.3 percent. The following are highlights of BLS projections for the labor force, the macroeconomy, and industry and occupational employment.