Department of Labor sees big changes in next decade: every two years, the U.S. Department of Labor's Bureau of Labor Statistics forecasts trends for America's workforce for the coming decade. In February, BLS released its figures for 2002-2012, and the results show important implications for franchising.(Trends)

Franchising World, April, 2004

Overall, the Bureau of Labor Statistics estimates that employment in the U.S. economy will rise 15 percent to 165 million, an increase of 21.3 million jobs. Much of franchising is conducted in the service industries and the BLS projections show almost all the employment growth will occur there. By 2012, the services sector will account for 129 million jobs and 20.8 million of the 21.3 million jobs created over the decade.

Leisure and hospitality, professional and business services, and education and health services are all categories expected to see greater employment growth than in the economy as a whole. Manufacturing, on the other hand, is expected to contract, with employment in the goods producing sector dropping from 16 percent to 14 percent of the...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.