US Labor Department Sees Much Slower Job Growth Through 2032
- Annual employment seen growing 0.3% vs 1.2% gain in 2012-2022
- Health care sector projected to account for 45% of job gains
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US employment gains will slow significantly and be more concentrated across few sectors in the decade through 2032 as population growth moderates, fresh government estimates show.
The Bureau of Labor Statistics sees the economy adding almost 4.7 million jobs, or 0.3% annually. That’s well shy of the 1.2% annual increase in the decade that ended in 2022, projections from the Labor Department agency showed Wednesday. Estimated job growth would equal less than 40,000 jobs per month.