These workers are not usually employed in this industry, but it does require their services. Several factors could act to reduce the employment growth rate of this occupational group below the COPS forecasted rate. The main employer of this occupational group, the finance, insurance and real estate industry, which typically employs about half of these professionals, is experiencing sluggish growth. According to industry sources, this is a field where advances in technology are making workers more productive, and fewer are needed to complete the same amount of work. This increased productivity could reduce the employment growth rate.
Appraisers provide a good example of increased productivity due to new technology.
Appraisers have improved access to a variety of electronic databases required to complete their work. The introduction of specialized computer software programs requires less input from appraisers to complete property assessments. These factors have greatly reduced the length of time needed to do a residential appraisal. Generally, this is a job that requires training followed by obtaining related experience. Professional credentials, such as CRA and AACI, are associated with higher salaries and further promotion.