Just not for the middle class

If you’re looking to make less than $14.25 an hour, then you’re in luck! Low-income jobs are expected to grow the most over the next five years, followed by high-wage jobs above $23.25 an hour.

That’s what a new study from job listing website CareerBuilder says about the job market from 2017 to 2022. Overall, they expect over 8 million new jobs will be added to the market, many of which will be in the science, technology, engineering and math fields.

Between now and 2022, close to 3 million low-wage jobs will be added to the market, amounting to a 5.57 percent increase. High-wage employment will grow by 5.14 percent, adding over 2.7 million jobs while middle-wage jobs will grow by 4.1 percent, adding 2.1 million jobs.

On the flip side, the market for middle-wage jobs will shrink by over 302,000 and at a much faster rate than high and low-wage jobs, which are expected to lose 79,825 and 75,093 jobs respectively.

Take a look at the best and worst jobs when it comes to growth over the next five years.

The good

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It’s a great time to be in the health field as home health care and nursing jobs are poised to grow.

Personal care aide jobs are expected to grow 16 percent over the next five years. That turns out to be about 330,000 jobs in that career alone, the fastest-growing. At a pay rate of close to $11 an hour, it takes up a good portion of the low-wage positions that will be added to the market. Home health care aids will also grow at 16 percent, adding about half as many jobs as personal care.

Nurse practitioner jobs will grow at a slightly slower rate of 14 percent, adding over 21,000 jobs. Following that in the health field is physical therapists that will grow at 12 percent, adding roughly 28,000 jobs to the market.

On the IT front, web developer and computer systems analyst positions are expected to grow at 15 and 12 percent respectively adding 26,000 and 71,000 jobs. The larger field of software development will also grow at 11 percent, adding about 94,000 positions.

Check out a handful of other fast-growing jobs below.

  • Industrial Machinery Mechanics to grow 12 percent, adding 40,500 new jobs

  • Market Research Analysts and Marketing Specialists to grow 11 percent, adding 62,800 jobs

  • Personal Financial Advisors to grow 10 percent, adding 26,900 jobs

The bad

Not all jobs are growing, however. Switchboard operators are expected to take the biggest hit, losing 11 percent or roughly 11,500 jobs.

Door-to-door salespeople and street vendors are next on the chopping block, expected to lose 7,800 or 10 percent of the market over the next five years, followed by printing press operators, losing 5 percent, or 7,900 jobs.

Check out some of the other jobs expecting to shrink over the next five years.

  • Molding, Coremaking, and Casting Machine Setters, Operators and Tenders to lose 4 percent, or close to 6,000 jobs

  • Cutting, Punching and Press Machine Setters, Operators and Tenders to lose 4 percent or 7,800 jobs

  • Sewing Machine Operators to lose 4 percent, or 6,300 jobs

  • Tellers to lose 4 percent or 19,000

  • Construction Managers to lose 3 percent 12,200 jobs

  • Cooks and fast-food employees are expected to lose 2 percent or 8,800 jobs

  • Bookkeeping, Accounting, and Auditing Clerks are expected to lose 1 percent or 21,800 jobs

“Middle-wage workers are at the greatest risk for displacement especially as rapid advancements in technology reshape labor requirements,” says Matt Ferguson, CEO of CareerBuilder. “Their only choices are adopting new skills for a higher-paying job, being underemployed in a lower-skill job or leaving the workforce altogether.

“Either of the latter options will result in less spending, less investing and significant economic challenges,” he adds. “If we want to adequately prepare our labor force, we need to dramatically increase efforts to re-skill and up-skill workers today.”

Meet the Author

Gregory Cox

Gregory Cox

Writer

Cox is a freelance writer for Debt.com.

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Article last modified on September 7, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: Job Growth Looks Good For the Next 5 Years - AMP.