The 10 Professions With The Best Job Security
Although the U.S. unemployment rate has been steadily declining for some time, jobs remain scarce for many Americans. While some trades and skills remain in demand or carry the promise of strong job security, other jobs don’t. The occupations with the lowest unemployment rates tended to require far more education, and employees were typically paid higher wages compared with less secure professions. Seven of the 10 most secure professions required at least a bachelor’s degree, while others often required even more qualifications. All but two of the occupations with the lowest unemployment rates had median wages greater than $60,000 in 2012. Dentists and other medical professionals such as doctors and surgeons were frequently paid more than $150,000 in 2012. The most secure professions include several medical occupations. To identify the easiest and hardest jobs to keep, 24/7 Wall St. reviewed 2014 unemployment rates among workers in 564 occupations provided by the Bureau of Labor Statistics. Estimated employment growth between 2012 and 2022, median 2012 wages, labor force totals, and typical education requirements for each job also came from the BLS. These are the professions with the best job security.
10. Farmers, ranchers, and other agricultural managers
Unemployment rate, 2014: 1%
Median annual pay, 2012: $69,300
Employment change, 2012-2022: -19.3%
Only 1% of American farmers were unemployed last year, the 10th lowest unemployment rate among all occupations. Unlike many other professions, employment as a farmer may not guarantee economic stability. Nearly three-quarters of farmers were self-employed. And because farming equipment is expensive, and the overall investment necessary to be a farmer is very high, leaving the profession can be virtually impossible. The BLS forecasts a more than 19% decline in farming employment by 2022, one of only two low-unemployment professions where the BLS projected a decrease in employment.
9. Postal service mail carriers
Unemployment rate, 2014: 0.9% (tied-eighth lowest)
Median annual pay, 2012: $56,490
Employment change, 2012-2022: -26.8%
Many Americans and businesses now favor email and other forms of electronic communication over delivery by the postal system. This partly explains the 26.8% projected decline in employment among mail carriers, one of the worst forecasts reviewed. Yet, less than 1% of postal workers were unemployed last year. Postal service mail carriers are clearly still largely indispensable to the transport of tangible items. It is also a major presence in the U.S. The U.S. Postal Service handles 40% of all mail globally, and it employs one of the largest civilian workforces in the world. The U.S. Postal Service reported 2013 revenue of $67.3 billion, an increase from the year before. However, the USPS remains unprofitable, having posted a $5.3 billion operating loss in its latest fiscal year.
8. Speech-language pathologists
Unemployment rate, 2014: 0.9% (tied-eighth lowest)
Median annual pay, 2012: $69,870
Employment change, 2012-2022: 19.4%
As for most occupations with the lowest unemployment rates, speech-language pathologists had higher incomes than the median salary in most professions. A typical speech-language pathologist earned nearly $70,000 in 2012. Employment is also projected to grow by nearly 20% by 2022, one of the better growth rates reviewed. Speech pathologists address communication disorders in children and adults brought on by brain injury, developmental delay, emotional problems, and a range of other causes.
7. Detectives and criminal investigators
Unemployment rate, 2014: 0.8%
Median annual pay, 2012: $74,300
Employment change, 2012-2022: 2.0%
The majority of detectives and criminal investigators are employed by local governments or the federal executive branch. The median income of detectives and investigators was $74,300 in 2012, among the higher figures reviewed. If a detective or investigator was employed by the federal government, he or she could likely make far more, with such employees frequently earning more than $100,000 annually as of 2012. While high levels of education are often a requirement for professions with the lowest unemployment rates, detectives and investigators are typically only required to have a high school diploma in addition to law enforcement experience.
6. Medical, dental, and ophthalmic laboratory technicians
Unemployment rate, 2014: 0.4% (tied-5th lowest)
Median annual pay, 2012: $33,070
Employment change, 2012-2022: 6.7%
Medical and dental technicians service and help make a range of prosthetics and appliances, such as dentures, dental crowns, and eyeglasses. Unlike most of the relatively secure professions, such technicians aren’t typically highly educated, and they are paid far less than most Americans. The median pay of medical and dental laboratory technicians was just $33,070 in 2012, one of the lower incomes reviewed. The profession is projected to grow, albeit slowly, with the BLS estimating a 6.7% growth between 2012 and 2022. Still, the unemployment rate among workers in the profession is among the lowest. As is the case with other medical professions, the low unemployment rate among laboratory technicians is likely due in part to growing demand for medical services, particularly among the aging baby boomer generation.
5. Physicians and surgeons
Unemployment rate, 2014: 0.4% (tied-5th lowest)
Median annual pay, 2012: Greater than $187,200
Employment change, 2012-2022: 17.8%
Less than 0.5% of physicians and surgeons were unemployed last year, a lower rate than for the vast majority of occupations. The BLS also forecasts the number of physicians and surgeons to grow by 17.8% by 2022, one of the faster growth rates reviewed. The large and aging baby boomer population partly explains this growth trend. The requirements for Physicians and surgeons typically include education and training that span more than a decade and that can be very demanding. Physicians and surgeons examine, counsel, and perform procedures on patients with physical injuries and diseases. Those employed in the occupation are also well compensated, with a median pay of more than $187,000 in 2012, one of the highest earnings.
4. Aerospace engineers
Unemployment rate, 2014: 0.3%
Median annual pay, 2012: $103,720
Employment change, 2012-2022: 7.3%
Aerospace engineers were frequently paid six-figure salaries in 2012. Because many of those employed in this occupation work on national defense projects, prospective employees are also often heavily screened and require security clearances. Most aerospace workers don’t work for the government, however. Aerospace products and parts manufacturing employed 38% of workers, more than any other sector. While the profession is expected to grow 7.3% by 2022, slower than the average growth rate across all occupations, airplane and parts manufacturing is among America’s most robust industries. Plane routes and fleets are perhaps at capacity, but demand for new planes is still very high. For example, Boeing Co. reported a backlog of nearly $500 billion, with roughly 5,500 commercial airplane orders.
3. Physician assistants
Unemployment rate, 2014: 0.2% (tied-2nd lowest)
Median annual pay, 2012: $90,930
Employment change, 2012-2022: 38.4%
Physician assistants perform a range of duties that also vary considerably by location. In more rural areas where there are considerably less doctors, for example, assistants may perform many tasks ordinarily performed by physicians. In general, however, physician assistants perform routine procedures such as setting broken bones, drawing blood, and taking X-rays. Additionally, physician assistants often work closely with patients, recording their progress, counseling them, and providing treatment. A typical physician assistant was paid nearly $91,000 in 2012, and employment is expected to grow by 38.4% by 2022, both nearly the highest figures reviewed.
2. Dentists
Unemployment rate, 2014: 0.2% (tied-2nd lowest)
Median annual pay, 2012: $149,310
Employment change, 2012-2022: 15.9%
In addition to a bachelor’s degree, dentists must attend dental school, followed by a one- to two-year residency. To practice, dentists must also receive a state administered license. Most dentists are generalists, but many are orthodontists, endodontists, or specialize in other fields such as pediatrics, pathology, and public health. The median income of dentists was nearly $150,000 in 2012, one of the highest incomes compared with every other occupation. The BLS also projects employment in the field to grow nearly 16% by 2022, also among the higher rates.
1. Chiropractors
Unemployment rate, 2014: 0.1%
Median annual pay, 2012: $66,160
Employment change, 2012-2022: 14.6%
Just one in every 1,000 chiropractors was unemployed last year, the lowest figure among all occupations reviewed by the BLS. Chiropractors are required to complete a Doctor of Chiropractic degree, and they often seek additional professional degrees. Chiropractors typically take a more holistic approach to health, as they consider the entire body and state of a patient’s health. Chiropractic methods vary widely but share a drug-free approach by which musculoskeletal and nervous system disorders are addressed with manual manipulations of the body. According to the American Chiropractic Association, there is also a growing trend toward specialization and advanced training in the field. The median income of chiropractors was $66,160 in 2012, and employment is projected to grow nearly 15% by 2022, both among the higher figures reviewed.
Comments are closed.
