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The Hot Careers to 2020 breaks down job titles by education and experience, average openings, salary and personal skills such as math, science and computer proficiency.
Industries expected to see modest job creation (in terms of numbers) include, among others, occupational therapy, coaching, software development and industrial engineering.
“What is encouraging is that we have such a diverse range of jobs listed ranging from the very specialized occupations requiring a degree, to those that require very little work experience,” said Davis, who has monitored labor market information in Tennessee for the past 30 years. “The data have been shown to be reliable given the amount of time in which the jobs are being forecast.”
The Bureau of Labor Statistics’ Occupational Employment Statistics program calculated the information. The OES program collects data on wage and salary workers in nonfarm establishments in order to produce employment and wage estimates for about 800 occupations. The OES program surveys approximately 200,000 establishments nationally every six months, taking three years to fully collect the sample of 1.2 million establishments.
Despite a slippage in industrial production numbers and weakening economic growth for the U.S. overall, experts still think freight remains in a “modestly positive” mode for trucking, with impending changes to hours of service (HOS) regulations on July 1 still poised to help carriers win rate increases.
“We think we’re experiencing a ‘weak spot’ in economic growth, but not a downturn,” Jonathan Starks, transportation analyst for FTR Associates, told Fleet Owner.
“We’re getting much more concerned about the slowing industrial production numbers because that would have a big impact on the freight market,” he said. “But our overall base economic projection for the U.S. remains 2% to 2.5% GDP [gross domestic product] growth and if we can slough off this ‘weak spot’ freight volumes should remain relatively stable. So while the economy is not strong, it’s not expected to drop, either.”
The Institute for Supply Management (ISM) noted that economic activity in the manufacturing sector contracted in May for the first time since November 2012, despite an overall uptick in the U.S. economy, with the group’s PMI metric registering 49% in May, a decrease of 1.7 percentage points from April’s 50.7%, indicating contraction in manufacturing for the first time since November 2012 and only the second time since July 2009.
“[May’s] PMI reading is at its lowest level since June 2009, when it registered 45.8%,” noted Bradley Holcomb, chair of ISM’s manufacturing business survey committee. “Several comments from [ISM’s] panel indicate a flattening or softening in demand due to a sluggish economy, both domestically and globally.”
An increase in goods entering California is signaling optimism about the resilience of U.S. consumer spending and the trucking industry this year.
The combined inbound-container volume at the Los Angeles and Long Beach ports has risen 3.5 percent in the first four months of 2013 from a year earlier, according to data compiled by Bloomberg. That comes after total imports through these locations grew 0.9 percent last year compared with 2011.
The activity suggests that an increase of 3 percent to 5 percent — consistent with modest consumption growth — is attainable this year, even as retailers keep inventories lean, said Todd Fowler, vice president and analyst in Cleveland with KeyBanc Capital Markets Inc., the investment banking arm of KeyCorp. Rising shipments through these ports — which account for almost 50 percent of all container imports — bode well for truckers because the same retailers that are top importers are typically the biggest customers of large trucking companies, he said.
“Containerized imports are a primary leading indicator of domestic transportation volumes, with about a three-month forward look,” Fowler said. For-hire trucking companies — including Swift Transportation Co. (SWFT) and Knight Transportation Inc. (KNX) — transport a majority of the freight for big-box retailers, so they will benefit from improved demand, he said.