Projections overview and highlights, 2020–30

Abstract

Employment and real output are projected to grow faster during the 2020–30 decade than in previous projection periods. This expectation largely reflects growth associated with the recovery from the 2020 recession, which was caused by the coronavirus disease 2019 (COVID-19) pandemic. About one-fourth of the population will be age 65 or older in 2030, contributing to slow projected growth in the labor force and a continued decline in the labor force participation rate. The aging population is also expected to continue to drive strong demand for a variety of healthcare services, with 3.3 million jobs projected to be added in the healthcare and social assistance sector through 2030