Ten American Industries That Are Going to Boom in the Next Decade
Photo by Joe Raedle/Getty Images
This post originally appeared in Business Insider.
A decade ago, Google had not yet gone public, the
Affordable Care Act wasn't law, and no one saw big data coming. The job
market was entirely different then, as it will be a decade from now.
A new data release from
the U.S. Bureau of Labor Statistics reveals which industries are going
to grow the fastest between 2012 and 2022. Health care and technology,
already giants today, are expected to keep up their rapid growth over
the next decade. At the same time, manufacturing is expected to continue
its rapid decline.
So if you're looking ahead to the future, here are the industries that are going to boom.
10. Facilities support services
Number employed in 2012: 125,800
Number projected in 2022: 164,400
Percentage growth: 30.6 percent
Why: Companies will always need
janitorial, security, and maintenance services, which can't be
outsourced to other countries or replaced by technology (at least not
yet).
9. Veneer, plywood, and engineered wood product manufacturing
Number employed in 2012: 63,800
Number projected in 2022: 83,500
Percentage growth: 30.9 percent
Why: This is one of the
industries that will benefit from increased construction spending, as
the effects of the housing bubble wane and people start to build again.
8. Offices of health practitioners
Number employed in 2012: 3,968,000
Number projected in 2022: 5,193,800
Percentage growth: 30.9 percent
Why: One side effect of the
Affordable Care Act is that previously uninsured people will be more
likely to seek out health care. Add that to an aging population, and you
get plenty of demand for health care services.
7. Office administrative services
Number employed in 2012: 426,400
Number projected in 2022: 571,300
Percentage growth: 33.9 percent
Why: Office support staff is
typically one of the first things to go during an economic downturn. As
the economy improves, more of these jobs will be added.
6. Cement and concrete product manufacturing
Number employed in 2012: 161,600
Number projected in 2022: 218,900
Percentage growth: 35.5 percent
Why: This is another industry
to benefit from an increase in construction spending. It will also
benefit as government spending on infrastructure stabilizes.
5. Computer systems design and related services
Number employed in 2012: 1,620,300
Number projected in 2022: 2,229,000
Percentage growth: 37.6 percent
Why: The ongoing tech boom means a growing demand for computer professionals.
4. Management, scientific, and technical consulting services
Number employed in 2012: 1,121,100
Number projected in 2022: 1,577,100
Percentage growth: 40.6 percent
Why: Many tech giants like IBM,
HP, and Xerox see the future of their businesses as providing
consulting services. This trend is expected to increase over time.
3. Outpatient, laboratory, and other ambulatory care services
Number employed in 2012: 1,151,400
Number projected in 2022: 1,673,700
Percentage growth: 45.4 percent
Why: Rising demand for health
care means rising demand for the services surrounding it. Also, as the
U.S. tries to reduce health care costs, more care is expected to take
place in outpatient facilities.
2. Individual and family services
Number employed in 2012: 1,311,400
Number projected in 2022: 2,022,900
Percentage growth: 54.3 percent
Why: This is another industry
that will benefit from an aging population, since families will need
help navigating the state and government services available to them.
1. Home health care
Number employed in 2012: 1,198,600
Number projected in 2022: 1,914,300
Percentage growth: 59.7 percent
Why: Home health care is an
easier and less expensive option than an extended hospital stay, and it
is expected to boom as the population ages.
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