US – IHS report forecasts strong job growth through 2017 and beyond

As the nation continues to recover from the Great Recession, it’s expected to gain about 11.5 million jobs, or 8.6 percent, in the next five years, according to a report issued today by the U.S. Conference of Mayors.

That growth will be led by nearly 3.7 million jobs in professional and business services industries. Not only are those relatively low-paying jobs, but higher-paying management jobs are expected to drop in the same time frame, the report indicates.

The Dallas-Fort Worth area is expected to see 12.8 percent job growth in that time, ranking No. 4 nationally. The Phoenix area is forecast to lead U.S. metropolitan growth (14.2 percent), followed by Charlotte (13.8 percent), Laredo (13.7 percent). The report looked at 15 metro areas.

The U.S. Conference of Mayors released the report, which was conducted by IHS Global Insight, during its annual fall leadership meeting in Dallas. The meeting, which is focusing on workforce skills, includes 30 city mayors and about 100 workforce development leaders from around the country.

Tom Cochran, chief executive of the U.S. Conference of Mayors, said he and his staff are looking fro information to help determine what job programs are working and help create an agenda for the presidential administration to follow next year.

Nationally, the report forecasts that the second highest job gains are tied between educational and health services, and construction, natural resources and mining, both at 2.08 million jobs.

By five-year percentage growth, the fastest-growing sectors remain the same but the top two change places. Construction, natural resources and mining would be No. 1, with 33 percent job growth from now through 2017, followed by professional and business services (20.7 percent) and educational and health services (8.4 percent).

For the D-FW area, the five-year job gains are expected to be highest in professional and business services (126,900 jobs), followed by educational and health services (68,410) and trade, transportation and utilities (67,910).  The top growth industries changed a bit when ranked by percentage, professional and business services still led (27.6 percent), followed by construction, natural resources and mining (22.2 percent) and educational and health services (18.3 percent).

The report notes that the federal government will continue to lose jobs in the next five years, but state and local government will continue to add jobs, led by the Laredo and D-FW areas nationally. Laredo’s growth in that area will be 10.5 percent and D-FW’s growth is expected to be 8.9 percent, it said.

Source: Dallas News.com

 

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