In this article, we will look at the 12 jobs that will be in demand in the next 10 years. We have also discussed the latest state of jobs in the US. If you want to skip our detailed analysis, head straight to the 5 Jobs That Will Be in Demand in the Next 10 Years.
The February 2024 jobs report revealed a strong addition of 275,000 jobs to the US economy, surpassing expectations and indicating continued strength in the labor market. Despite concerns about high interest rates and inflation, various sectors experienced growth, particularly in construction, retail, and food services, contributing to the unexpected employment surge. However, while job creation exceeded forecasts, there are indications that overall labor market activity may be cooling. Notably, the unemployment rate rose to 3.9%, the highest since January 2022, prompting Federal Reserve Chair Jerome Powell to advocate for continued vigilance to assess if employment trends will effectively moderate inflation.
The industry breakdown sheds light on the breadth of job gains, with sectors like health care, leisure and hospitality, and government leading the charge. Despite some declines in manufacturing jobs, the overall increase in employment across different sectors reflects a resilient labor market. However, revisions to previous months’ data and other indicators suggest a potential weakening in labor market conditions. As unemployment rates fluctuate and wage growth remains below expectations, policymakers must carefully monitor economic trends to ensure stability and address inflation concerns effectively.
Speaking of fluctuation, it is worth highlighting that in February 2024, Mark Zuckerberg revealed Meta Platforms Inc (NASDAQ:META)’s pivot towards a leaner operational model, signaling a departure from its previous hiring practices. Meta Platforms Inc (NASDAQ:META), formerly Facebook, declared its inaugural dividend and boasted increasing financial results, propelling its stock to a record high. Zuckerberg emphasized that the efficiency-driven approach adopted in 2023 would persist as a fundamental aspect of the company’s operations, indicating a shift away from large-scale hiring.
Following two rounds of major layoffs since fall 2022, totaling 22% of its workforce, Meta Platforms Inc (NASDAQ:META)’s stock improved, reaching over $450 per share in after-hours trading. Zuckerberg outlined plans to continue minimizing headcount and hiring, focusing on recruiting experienced professionals and maintaining a streamlined organization. Despite sustained revenue growth and cost reductions, Meta Platforms Inc (NASDAQ:META)’s future hiring plans are described as “relatively minimal” compared to historical levels.
The hiring challenges are not just restricted to tech companies alone, Hilton Worldwide Holdings Inc (NYSE:HLT) has faced major challenges in rebuilding its workforce post-pandemic, particularly within the hospitality industry. Laura Fuentes, the Chief Human Resources Officer at Hilton Worldwide Holdings Inc (NYSE:HLT), revealed that the company experienced a drastic shift from hiring over 50,000 people annually to facing layoffs and furloughs due to the pandemic. However, with the resurgence of business, Hilton Worldwide Holdings Inc (NYSE:HLT) has had to re-enter the talent marketplace aggressively, launching a new employer brand marketing campaign to attract talent authentically and strategically. This campaign targets not only traditional HR platforms but also consumer-facing channels to showcase Hilton Worldwide Holdings Inc (NYSE:HLT)’s culture and values, aiming to appeal to both guests and potential employees alike.
While the overall state of jobs in the US has been strong, according to Indeed’s rankings for 2024, mental healthcare professions dominate the list of top jobs in the US. Mental health technicians, therapists, and psychiatrists lead the list, reflecting a growing demand for mental health services. These positions offer attractive salaries, with mental health technicians averaging $77,448 annually and psychiatrists topping the list with an average salary of $258,440. Moreover, many of these roles provide flexibility, with nearly 20% of mental health technician jobs being remote or hybrid, and therapists enjoying a 41% flexibility rate. Owing to the growing flexibility in healthcare jobs, psychologists and mental healthcare professions are likely to be one of the future jobs in demand by 2030. To read about jobs that will be in demand in future, see 20 Jobs That Will be in Demand in the Next 5 Years.
Beyond healthcare, construction and manufacturing sectors also secured a major portion of slots on the list, totaling 32%. Finance roles accounted for 18% of the listed positions. Conversely, tech jobs experienced a decline, representing only 12% of the roles, possibly due to increased layoffs and a shift in popularity among employers. To read about jobs that will be on the decline in the next 10 years, see 30 professions to avoid like a plague.
Moreover, recruitment in the hospitality industry has been challenging due to workforce hesitancy, departures, and increased demand for flexibility. Fuentes highlights the importance of empowering leaders to rethink recruitment strategies, utilizing technology, data analytics, and AI to streamline processes. Hilton Worldwide Holdings Inc (NYSE:HLT) has also prioritized flexibility for its hourly workers, offering options such as daily pay, upskilling opportunities, and flexible scheduling through partnerships with platforms like Guild and WorkJam.
Speaking of AI, a recent report suggests that nearly one-fifth of US jobs, spanning various fields like IT operations and mathematics, are at high risk of being influenced by generative artificial intelligence (GenAI), capable of performing at least 80% of the required job skills. However, this doesn’t imply complete job displacement; rather, it’s anticipated that AI will augment human capabilities, potentially leading to more efficient work practices.
Moreover, Indeed.com’s analysis of over 55 million job postings indicates that GenAI can handle 50% to nearly 80% of required skills in about 45.7% of job listings, while in 34.6% of jobs, GenAI can manage less than half of the skills. However, occupations demanding manual skills or personal interactions, such as nursing, are less susceptible to AI disruption. Experts continue to stress the importance of workers adapting to AI technologies to remain competitive in the evolving job market.
Antonio Guillem/Shutterstock.com
Our Methodology
To list the jobs that will be in demand in the next 10 years, we identified the jobs with the fastest growing employment rate between 2022 and 2032. We relied on the Bureau of Labor Statistics, USA for the employment growth rates. The list is presented in an ascending order.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
12. Physical Therapist Assistants and Aides
Employment Change: 19%
In 2022, Physical Therapist Assistants and Aides earned a median annual pay of $57,240 and do not require any prior work experience. In fact, individuals can enter the field with on-the-job training or an associate’s degree. The profession has a strong job outlook, with a projected 19% growth from 2022 to 2032, amounting to 27,600 new jobs.
11. Actuaries
Employment Change: 23%
Actuaries, with a median pay of $113,990 per year, assess and manage financial risks using mathematics, statistics, and financial theory. They typically hold a bachelor’s degree and undergo long-term on-the-job training. No prior work experience is required. Actuaries analyze data to help businesses make informed decisions about insurance premiums, pension plans, and other financial strategies. With a projected job growth of 23% from 2022 to 2032, opportunities in this field are abundant.
10. Occupational Therapy Assistants
Employment Change: 23.0%
Occupational therapy assistants and aides, with a median pay of $63,450 annually or $30.51 per hour, typically require no prior work experience. The profession offers significant opportunities, with a projected job outlook of 23% growth from 2022 to 2032. This growth is anticipated to result in an additional 11,000 jobs by 2032, bringing the total number of positions to 49,000. With a growth as high as 23%, it is one of the best careers for the next ten years.
9. Software Developers, Quality Assurance Analysts and Testers
Employment Change: 25.7%
Software developers, quality assurance analysts, and testers are in high demand with a projected 25% job growth from 2022 to 2032. The median pay as of 2022 is $124,200 annually. Entry typically requires a bachelor’s degree, and there’s no specific work experience or on-the-job training prerequisite. With a high median salary, software development is one of the highest paying jobs in the next 10 years.
8. Physician Assistants
Employment Change: 27%
Physician Assistants (PAs) are healthcare professionals who practice medicine under the supervision of physicians and surgeons. They conduct physical exams, diagnose and treat illnesses, order and interpret tests, prescribe medications, and counsel patients on preventive healthcare. With a typical entry-level education of a master’s degree and no prior work experience required, PAs earn a median annual salary of $126,010.
7. Epidemiologists
Employment Change: 27%
Epidemiologists investigate patterns and causes of diseases to prevent their spread and protect public health. They collect and analyze data, conduct research, and develop strategies for disease prevention and control. Typically holding a master’s degree, they require no prior work experience in a related field and receive no on-the-job training. With a median annual pay of $78,520 in 2022, they are projected to see a much faster-than-average job growth of 27% from 2022 to 2032, adding 2,700 new jobs and making it one of the best jobs for the future by 2030.
6. Medical and Health Services Managers
Employment Change: 28%
Medical and Health Services Managers, with a median pay of $50.40 per hour, typically hold a bachelor’s degree and require less than 5 years of related work experience. On-the-job training is generally not necessary for this role. With 509,500 jobs in 2022 and a projected 28% job outlook from 2022 to 2032, much faster than average, the field is expected to see an employment change of 144,700 over the same period. With these stats, it is one of the jobs that will be in demand in the next 10 years in USA.
Click here to see the 5 Jobs That Will Be in Demand in the Next 10 Years.
Suggested Articles:
- 20 Most in Demand Jobs in Europe
- 20 Jobs That Will be in Demand in the Next 5 Years
- 17 Highest Paying Social Sciences Jobs That Are in Demand
Disclosure: None. 12 Jobs That Will Be in Demand in the Next 10 Years is originally published on Insider Monkey.
Hedge Fund Resource Center