Given that most news about millennial life is decidedly negative, let’s touch on a topic that might brighten your outlook on young people — the American job-market forecast.
We’re constantly bombarded with negativity about how millennials can’t find jobs, homes or romance. We see a non-stop flow of articles of how we’ve delayed major life decisions because of financial pressure, and how our lives amount to a pile of unfortunate misery.
In reality, these characterizations of millennial life are a bit outdated. There’s mounting evidence that our generation is finally turning the corner. If you take a gander at recent forecasts, especially in the world of employment, they spell out how millennial prospects are finally shaping up.
The Bureau of Labor Statistics released a long, snoozy report about employment growth during 2014-2024 decade. Among the dizzying number of statistics, there were a few revelations about our economic future that you should be aware of.
Overall employment is looking a lot healthier, as we’re expecting nearly 10 million new jobs to be added during the 2014-2024 decade. Even more exciting is that millions of people from the the Baby Boomer generation (1946 – 1964) will be retiring, making way for millennials. Tens of millions of jobs are set to become available, as Mom and Dad retire.
Aging Baby Boomers are also causing enormous job growth in healthcare. A whopping 1 in 4 jobs will come from that sector, and many of them will be highly paid, highly skilled positions. Older people get sick and need professionals to attend to them, and with growing life expectancy, we can rest assured that there will be a copious amount of work in the healthcare field for years to come.
The only major job categories where the government is expecting employment decline are in production occupations such as manufacturing, as well as farming, fishing and forestry. Random occupations such as Locomotive Firers, Telephone Operators, and Postal Service Mail Carriers will also see their jobs go the way of the dodo bird.
The report also covers how technology and rapidly growing industries are changing the face of the job market. The economy is changing, and occupations such as Wind Turbine Service Technicians (to service our growing wind-energy needs) are appearing out of the clear blue sky. That occupation is growing “almost 17 times faster than the national average.”
While some jobs are disappearing, the growth is merely shifting to other sectors. If people can adapt to the new, digitally driven economy, they’ll find themselves easily employable.
Almost two years ago, millennials become the largest generation currently in the workforce.
As our dominance becomes entrenched in the American workforce, our outlook is looking pretty nifty.
Baby Boomers are moving out of their corner offices, and winding down for their much-awaited retirement. It’s estimated that 10,000 Baby Boomers are retiring daily, which means that replacement needs just to keep things running will continue to increase dramatically.
Plain and simple: Less Baby Boomers in the workforce means more jobs for millennials.
This article was originally featured on GenFKD.org
David is the Editor of Bold. He's especially passionate about millennial economic empowerment. A former local news reporter, David is originally from the Little Havana area in Miami, and later became a pioneer resident of the Disney-inspired town of Celebration, Florida. David holds a Master’s in Public Policy from the Harvard Kennedy School.