Missouri Short-Term Industrial Highlights

Transcription

1 Missouri Short-Term Industrial Highlights The The Missouri Missouri employment employment projections projections process process consists consists of of two two closely closely integrated integrated phases, phases, including including the the development development of of Projections Projections of of Industrial Industrial Employment Employment and and Projections Projections of of Occupational Occupational Employment. Employment. Short-term Short-term projections projections are are for for two two years years and and Long-term Long-term projections projections are are for for ten ten years. years. The The following following slides slides highlight highlight the the results results of of the the industry industry projections projections for for both both the the short- short-and and long-term. long-term.

2 Missouri Short-Term Industry Projections Industry Sector Growth 7,746 7,530 7,129 Service Providing 3,107 2,903 2,639 1,406 5,055 Goods Producing 4,017 3,641 2,219 1,860 1, New Jobs In 2 Years ,555-1,950-2,202 Health Care &Social Assistance Construction Accomodation & Food Services Administrative Support,Manag.,Services Educational Services (Public, Private) Other Services (Excpet Government) Professional, Scientific,Technical Services Finance and Insurance Retail Trade Art Entertainment &Recreation Government (Fed, State, Local) Real Estate, Rental,Leasing Wholesale Transportation & Warehousing Agriculture, Forestry, Fishing, Hunting Mining Utilities Information Management of Companies & Enterprises Manufaturing Accommodation & Food Services Other Services (Except Government) Arts, Entertainment & Recreation Manufacturing Industry Sectors Missouri Missouri and and the the U.S. U.S. as as a a whole whole are are moving moving away away from from a a manufacturing-based manufacturing-based economy economy and and toward toward a a service-based service-based economy. economy. Short-term Short-term projections projections show show strong strong growth growth in in Health Health Care Care and and Social Social Assistance, Assistance, Construction, Construction, and and Accommodations Accommodations and and Food Food Services Services industries industries from from to to The The Manufacturing, Manufacturing, Management Management of of Companies Companies and and Enterprises Enterprises and and Information Information industries industries are are projected projected to to decline decline in in the the short-term. short-term.

3 Missouri Short-Term Industry Projections Fastest Growing by Detailed Industries (with employment of at least 10,000 in 2004) Internet Service Providers, Web Search Portals, and Data Processing Services Rental and Leasing Services Annual Percent Growth 3.46% 3.34% Amusement, Gambling, and Recreation Industries Specialty Trade Contractors Warehousing and Storage Construction of Buildings Social Assistance Administrative and Support Services Heavy and Civil Engineering Construction Credit Intermediation and Related Activities Transit and Ground Passenger Transport 3.01% 2.81% 2.65% 2.55% 2.23% 2.00% 1.78% 1.78% 1.70% Fast Fast growth growth is is generally generally associated associated with with the the most most promising promising industries. industries. Considering Considering more more detailed detailed industry industry classifications classifications from from , , the the fastest fastest growing growing industry industry (with (with total total employment employment above above 10,000) 10,000) is is projected projected to to be be Internet Internet Service Service Providers, Providers, Web Web Search Search Portals, Portals, and and Data Data Processing Processing Services, Services, increasing increasing by by 3.46% 3.46% annually, annually, following following by by Rental Rental and and Leasing Leasing Services Services and and Amusement, Amusement, Gambling Gambling and and Recreation Recreation industries. industries. Large Large but but slower slower growing growing industries industries usually usually provide provide more more job job openings openings than than small, small, fast-growing fast-growing industries. industries. Thus Thus looking looking at at BOTH BOTH percent percent and and numerical numerical changes changes is is important important in in identifying identifying industries industries having having favorable favorable employment employment opportunities. opportunities.

4 Missouri Missouri Short-Term Industry Projections Short-Term Industry Projections Top Top Ten Growth Detailed Industries Ten Growth Outlook by Detailed Industries New Jobs In 2 Years Food Services and Drinking Places 6,745 Specialty Trade Contractors Administrative and Support Services 4,947 5,219 Educational Services (Public, Private) 4,017 Professional, Scientific, and Technical Services 3,107 Ambulatory Health Care Services 2,884 Hospitals Amusement, Gambling, and Recreation Industries Credit Intermediation and Related Activities 2,354 2,187 2,119 Large job openings & Rapidly growing In In the the short-term, short-term, some some industries industries are are projected projected to to have have a a large large number number of of job job openings openings and and rapid rapid growth growth from from to to 2006, 2006, including including Specialty Specialty Trade Trade Contractors; Contractors; Administrative Administrative and and Support Support Services; Services; and and Amusement, Amusement, Gambling Gambling and and Recreation Recreation Industries Industries (represented (represented by by the the orange orange bars). bars).

5 Missouri Long-Term Industrial Highlights

6 Missouri Long-Term Industry Projections Industry Sector Growth 67,380 New Jobs In 10 Years 37,500 36,990 35,400 Service Providing 30,850 Goods Producing 21,550 16,170 15,550 15,390 12,520 7,800 7,690 7, , , Health Care and Social Assistance Administrative Support,Manag.,Services Educational Services Accommodation and Food Services Retail Trade Construction Professional, Scientific,Technical Services Government Other Services (Except Government) Finance and Insurance Management of Companies and Enterprises Wholesale Trade Real Estate and Rental and Leasing Information Transportation and Warehousing Manufacturing Arts, Entertainment, and Recreation Agriculture, Forestry, Fishing and Hunting Mining Utilities Industry Sectors In In the the long long term term from from to to 2012, 2012, the the Health Health Care Care and and Social Social Assistance Assistance industry industry is is projected projected to to grow grow by by the the greatest greatest amount. amount. An An aging aging population population is is the the main main driver driver of of healthcare healthcare demand. demand. Only Only Utilities Utilities are are projected projected to to decline decline in in the the long-term. long-term.

7 Missouri Long-Term Industry Projections Fastest Growing by Detailed Industries (with employment of at least 8,000 in 2002) Ten-years Percent Grow th Internet Service Providers, Web Search Portals, and Data Processing Services 54.2% Ambulatory Health Care Services 35.3% Administrative and Support Services 30.8% Rental and Leasing Services 23.5% Nursing and Residential Care Facilities 22.4% Social Assistance 21.9% Religious, Grantm aking, Civic, Professional, and Sim ilar Organizations 19.9% Electronics and Appliance Stores 19.5% Furniture and Home Furnishings Stores Support Activities for Transportation 19.3% 18.7% Projected Fastest Growing Industries for both ST & LT Several Several detailed detailed industries industries are are projected projected to to grow grow rapidly rapidly in in both both the the short- short-and and long-term, long-term, including including Internet Internet Service Service Providers, Providers, Web Web Search Search Portals, Portals, and and Data Data Processing Processing Services; Services; Administrative Administrative Support Support Services; Services; and and Rental Rental and and Leasing Leasing Services. Services.

8 Missouri Long-Term Industry Projections Top Ten Growth Outlook by Detailed Industries New Jobs in 10 Years Educational Services Administrative and Support Services Food Services and Drinking Places 33,940 36,990 36,540 Ambulatory Health Care Services 29,800 Professional, Scientific, and Technical Services Local Government, Excluding Education and Hospitals Hospitals Nursing and Residential Care Facilities Specialty Trade Contractors Religious, Grantmaking, Civic, Professional, and Similar Organizations 16,170 15,110 14,750 14,530 13,690 13,200 Large job openings & Rapidly growing The The Educational Educational Services Services industry industry is is projected projected to to have have the the greatest greatest number number of of new new jobs jobs by by Industries Industries in in orange orange are are projected projected to to have have a a large large number number of of job jobopenings openings and and rapid rapid growth growth rates rates in in the the long-term. long-term.