Significant Job Growth Predicted Through 2008
NASHVILLE - Tennesseans will find significant job opportunities through 2007 and 2008, according to recently completed employment projections by the Tennessee Department of Labor and Workforce Development. According to recent research, short term projections of employment in Tennessee show a 1.2 percent average annual increase, translating into an expected increase of about 75,900 jobs in a two-year period.
“According to our research, there are job gains in the administrative, managerial, and transportation industries. The vibrant food, entertainment, and health care industries provide personal services for our growing and aging population,” said Commissioner of Labor and Workforce Development James Neeley. “These short-term job data show the effect of the contemporary business cycle on long term trends.”
Computers and mathematical, building and grounds cleaning and maintenance, community and social services, health care support occupations, food preparation and serving, business and financial operations, and healthcare practitioners and technical occupations are projected to have very strong growth rates. Other expanding occupational groups include legal; arts, design, and entertainment; education, training, and library; farming, fishing, and forestry; and management occupations.
The next two years are expected to show very strong industry growth in administrative and support and waste management and remediation; professional, technical, and management services; accommodation and food services; transportation, warehousing, and utilities; and health care and social assistance. Growing industries include educational services; wholesale trade; finance and insurance; real estate and rental and leasing; other services; construction; retail trade and information, among others. Manufacturing is likely to have some net job losses for the two years, but it is expected to have long term growth to 2014. Mining is likely to decline.
Detailed information and analyses are provided in a report available on the Tennessee Department of Labor and Workforce Development Web site at http://tennessee.gov/labor-wfd/lmi/jobforecast.pdf. The data on which the report is based are available in the labor market information system, The Source, at www.sourcetn.org . The Source also provides long-term occupation and industry projections to the year 2014.