If robots are automating away the jobs of the future, it makes sense to place your employment bets now. New data from the employment website CareerBuilder might help you make your decision.
CareerBuilder analyzed employment trends to predict the growth of the labor market over the next five years. It found that the US will add more than 8 million jobs by 2023. However, as you might suspect, the addition of new jobs will not be evenly distributed.
High-wage and low-wage occupations are expected to have the highest net job growth, at 5.71% and 5.69% respectively, by 2023, while middle-wage jobs will only grow by 3.83%. But more surprising than the hollowing-out of the labor market is the types of jobs that are growing the fastest in each wage category.
Among high-wage jobs, accounting will be one of the fastest-growing professions in the next five years. Delivery driving makes the cut for middle-wage jobs, with nearly 50,000 new jobs expected. But both of those jobs come with risks for anyone seeking long careers in either field. Researchers from Oxford found that accountants have a 95% chance of being automated in the next two decades, while the rise of self-driving cars and drones promise to make many professional driving jobs obsolete.
“Technology innovation is moving at an unprecedented rate and is rapidly redefining the occupations and skills required in the job market,” says Irina Novoselsky, CEO of CareerBuilder. “Workers across all job levels will need to continually pursue opportunities to upskill in order to maneuver around accelerated shifts in labor demand.”
So choose wisely. Though it might make sense to position yourself in a high-growth industry, the jobs growing the fastest in the next five years might not be the ones that last.
* = CareerBuilder estimate of net new jobs through 2023
** = Current hourly wage estimates based on data from Emsi