apple contributions to the US economy

The 8 Fastest Disappearing Jobs In America

One of the certainties of a market economy is change. As Joseph Schumpeter famously observed, innovation moves the world forward, but not painlessly.

Q2 hedge fund letters, conference, scoops etc

apple contributions to the US economy

FotografieLink / Pixabay

The evolutionary process of “creative destruction” introduces new industries and new opportunities, but in its wake, less efficient industries and jobs are left behind. Even longstanding industries can struggle to keep up if they fail to innovate—just ask newspaper and magazine publishers who experienced the upheaval of one of the most disruptive technologies in history: the internet.

For young people mapping out a career plan, knowing which jobs are projected to grow can offer a significant edge. But knowing which jobs are disappearing the fastest can be just as useful.

The Bureau of Labor Statistics (BLS) recently published a list of the fastest declining jobs in America. Below are the eight occupations that top the list.*

2018: 622,500

2028 (projected): 499,400

Of all the occupations facing sharp declines, executive secretaries and executive administrative assistants represent the single biggest in terms of aggregate jobs.

These individuals provide high-level support for senior staff by conducting research, preparing reports and correspondence, receiving visitors, and scheduling meetings. They may also be responsible for training lower-level staff.

Executive secretaries make nearly $60,000 a year, on average, but the government projects there will be about 120,000 fewer of them 10 years from now. While there are 622,500 today, BLS projects there will be fewer than half a million of them in 2028.

The decline is generally attributed to smart technology that has improved scheduling efficiency and record-keeping.

2018: 60,000

2028: 40,000

Typists, not to be confused with administrative assistants, use word processors to type letters, reports, or other materials. (They also may perform other clerical duties.)

There are 60,000 professional typists in the US today, but the government projects that figure to fall by 33.8 percent over the next decade, to 40,000.

The decline likely stems from the rise of voice-to-text software and other smart technologies. According to the BLS, about one-fifth of all typists are employed in the New York metropolitan area.

2018: 187,300

2028: 143,900

Data entry technicians operate equipment (usually a keyboard) to input alphabetic, numeric, or symbolic data into computer systems. They make $32,170 annually, on average.

There are currently 187,000 data entry keyers in the US, but that figure is projected to fall to 144,000 over the next decade, a 23 percent decline. The drop appears to be linked to improvements in automation that require less manual clerical work.

2018: 180,100

2028: 142,500

Legal secretaries make about $46,000, on average, by performing secretarial duties for attorneys and law firms. These responsibilities often include preparing legal documents and correspondence such as summonses, complaints, motions, and subpoenas, as well as performing some legal research.

The number of legal secretaries is expected to decline from 180,100 in 2018 to 142,500 by 2028. The decline continues a trend The Wall Street Journal first observed in 2013. This industry-wide cost-cutting measure stems largely from enhanced technology and the willingness of firms to allow young lawyers to type their own legal briefs.

2018: 74,000

2028: 55,900

Believe it or not, there are still nearly 74,000 switchboard operators in the US today. These folks operate telephone systems equipment to relay calls, though their work will sometimes also involve recording messages or supplying information to callers.

Switchboard operators make about $30,000 a year, but the government projects there will be about 17,500 fewer of them in a decade (55,900).

While switchboard operators were once a fixture of most communities, the digital age of mass communication finds itself less reliant on this antiquated form of communication.

2018: 99,000

2028: 76,000

2018: 328,000

2028: 263,000

2018: 75,000

2028: 60,000

The last three jobs three have the same employer: the US Postal Service. US Postal Service jobs are expected to decline substantially over the next decade, which is not a surprise if you’ve been following the Post Office’s recent financial problems.

Between clerks, carriers, and mail sorters, the USPS is projected to shed more than 100,000 jobs over the next decade.

(*Note: I restricted this to occupations filled with at least 50,000 workers.)

Jon Miltimore

Jon Miltimore

Jonathan Miltimore is the Managing Editor of FEE.org. His writing/reporting has appeared in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Washington Times. 

This article was originally published on FEE.org. Read the original article.


Saved Articles
X
TextTExtLInkTextTExtLInk

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required


Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up today and get three months free

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 10/31/2019 or after next 25 20 subscribers take advantage whichever comes first – please do not share this discount with others

 

0