U.S. Bureau of Labor Statistics predicts drop in manufacturing employment

The U.S. Bureau of Labor Statistics, Washington, D.C., has released its employment projections for 2012 to 2022.

While total employment is projected to increase 10.8 percent, or 15.6 million, during the decade, five industry sectors are projected to have decreases in employment. Manufacturing is one of those five, with an expected drop of 549,500 jobs.

In addition to projecting employment for several occupations, the report depicts the education, related work experience, and on-the-job training typically needed for occupations. Occupations that typically require postsecondary education for entry are expected, on average, to grow faster than occupations that require a high school diploma or less.

The labor force is projected to grow 0.5 percent per year from 2012 to 2022, compared with an annual growth rate of 0.7 percent during the 2002-2012 decade. Because of the aging baby-boom generation, workers ages 55 and older are expected to make up more than one-quarter of the labor force in 2022.