The quality of jobs is also improving as the expansion matures, although this is not because the highest paying jobs have accounted for an increasing share of job growth. Behind the strong growth in high-paying jobs during this expansion is the surge in information and computer technology jobs. During the past three years, for example, the number of computer systems analysts and scientists experienced the largest job gain of any occupation. Given the strong pace of technological change, this nation's comparative advantage in high-tech goods and services, and the aging of the population, these occupations are likely to be in strong demand for the foreseeable future. While the growth in high-paying jobs has been robust throughout this expansion, the supply of workers with the needed skills and education to fill these jobs has not kept pace.
Universities are also hard-pressed to keep pace with the demand for their students.
Businesses are creating over 100,000 computer science and programming jobs each year. According to the Department of Education, however, universities confer only a consistent just below 45,000 computer and information science degrees a year. There is more labor available for work in lower-paying occupations. Moreover, an expected surge in Asian imports will continue to hammer the textile and apparel industries and ongoing restructuring in the health care and banking industries will constrain growth in health service and administrative support occupations. Welfare reform and ongoing strong foreign immigration also continue to fuel the growth in the number of workers available for work in these jobs.