Employment projections in electric power industry
February 9, 2011 The electric power industry is shrinking in terms of total employment and will decline further if Bureau of Labor Statistic employment projections hold. The data survey is conducted every ten years and covers total employment in the generation, transmission, and distribution (GTD) sectors of the industry. Natual gas and water utilities are not included in the following employment projections.
Total power industry employment has fallen from 443,800 in 1998 to 404,700 in 2008. BLS projections estimate the industry at 345,700 employees by 2018.
On an absolute basis, the changes in industry employment from 1998 to 2008 is a net loss of 39,100 jobs. By 2018, the industry employment level is expected to lose another 59,000.
The final chart shows the annual growth rate in employment in the electric power industry. Employment prospects are not as promising as other industries. From 1998 to 2008, the annual employment growth rate was -0.9%. Unfortunately the decline will accelerate to -1.6% during the 2008-2018 period.
Related Link: The employment projections 2008-2018