Service-Producing Industries, The growth of the service-producing sector creates an image of a work force dominated by cashiers, retail sales workers, and waiters. In addition to such jobs, the service sector will also generate jobs for financial managers, engineers, electrical and electronics technicians, nurses, and many other managerial, professional, and technical workers. Environmental management and conservation of oil and gas are vital industries that will continue to grow.
According to Workforce 2000, a report from the Hudson Institute, "The new jobs in service industries will demand much higher skill levels than the jobs today. Very few new jobs will be created for those who cannot read, follow directions, and use mathematics. Ironically, the demographic trends in the work force, coupled with the higher skill requirements of the economy, will lead to both higher and lower employment: more joblessness among the least-skilled and more jobs among the educationally advantaged."
John Stodden, Ph.D. economist and career expert, says, "There is a tremendous surge in the services sector, which is highly labor intensive and increases the need for workers-knowledgeable workers. In this kind of variable, dynamic, and tricky economy, you need people who know what they're doing. Let's just say it, you need graybeards. You don't need wet noses. There's a premium of wisdom over enthusiasm here; people who know the ropes, who can find markets, develop products. The economy is too topsy-turvy to babysit youngsters until they learn what's going on. I think that falls right into the lap of the over-50 target audience." The service industry is projected to account for almost 50 percent of all new jobs by the years to come. These jobs will be in small companies as well as large corporations, in all levels of government, and in such diverse industries as banking, data processing, hospitals, and management consulting.
- Healthcare. This field will continue to be one of the most important groups of industries in terms of job creation. New technology and a growing and aging population will increase the demand for health services. Because of the growth of health care, seven of the ten fastest-growing occupations between now and the years to come will be health related.
- Business Services. Personnel supply services, which include temporary help agencies, the largest industry in this group, will continue to grow. Business services also include the fastest-growing industry in the economy - computer and data processing services. This industry is predicted to grow five times faster than the average for all industries. Research, management, and consulting are other business services areas that will boom, though not as quickly as computer and personnel supply services.
- Education. There is a need in both the public and private sector for teachers, teacher's aides, counselors, technicians, and administrative aides. There is a shortage of skilled technical workers and engineers, professionals needed to create, plan, and develop tomorrow's new products. Approximately half of the Ph.D.'s teaching in colleges and universities are foreign born. And Ph.D. minorities, desperately needed on U.S. engineering college campuses, comprise 1.7 percent of those holding this degree; over all, only 5.6 percent of Ph.D.'s are minorities. In addition to a growing need for Ph.D.'s to teach at the college level, many college professors will be retiring during the 1990s. Result: Approximately 500,000 college teaching vacancies will occur in this decade.
- Retail Trade. The food service industry will be among the fastest-growing industries and will employ the most workers in this area. An increasing number of jobs are also projected in grocery, department, and other types of stores.
- U.S. Government. Uncle Sam is the country's largest employer, with jobs ranging from secretaries to doctors and engineers and everything in between. There will also be a broad range of jobs in state and local governments.