15 Fast-Growing Industries Looking To Hire in the US
In this article, we will look at the 15 fast-growing industries looking to hire in the US. We have also discussed the latest employment developments in the US. If you want to skip our detailed analysis, head straight to the 5 Fast-Growing Industries Looking To Hire in the US.
In recent months, the US job market has witnessed remarkable growth despite high-profile layoffs in certain sectors. Over the past six months, an average of 248,000 jobs have been added monthly, with an unemployment rate of just 3.7%, close to a 50-year low. This growth has been widespread, with 353,000 jobs added in January alone.
Notably, industries like healthcare, manufacturing, and professional services have seen major employment increases, with health providers alone adding 300,000 positions. However, layoffs in sectors such as technology, finance, and media have garnered attention, with companies like Alphabet Inc (NASDAQ:GOOG), Amazon.com, Inc (NASDAQ:AMZN), and United Parcel Service, Inc (NYSE:UPS) announcing major job cuts. Despite this, the overall job market remains stable as there are clear indicators like low unemployment benefit claims and continued private sector hiring demonstrating its fundamental health.
On the other hand, it is worth mentioning that remote work saw a decline after peaking at over 60% in spring 2020, settling at about 25% in 2023, still significantly higher than pre-pandemic levels of 5% in 2019. Experts predict a rebound in remote work trends in 2024 as companies navigate hybrid models. Currently, 38% of firms mandate full-time office work, down from 49% at the start of 2023. As remote work becomes more entrenched, experts foresee a gradual increase in remote work prevalence, possibly reaching 33% of total work days completed remotely.
Comcast Corp (NASDAQ:CMCSA) is adjusting its return-to-office plan for some Philadelphia-based recruiters, allowing roughly 20 professionals to work remotely from home starting Sunday. Originally, the company had required headquarters employees to be in the office at least three days a week. However, recognizing the nature of recruiter roles, which often involve virtual interactions with candidates, Comcast Corp (NASDAQ:CMCSA) is adapting by designating these positions as virtual home-office roles. This shift reflects a broader trend within the company, where over 25,000 positions are now designated for remote work which is an increase from pre-pandemic levels. This strategic adjustment highlights how Comcast Corp (NASDAQ:CMCSA) is committed to tailoring its approach to accommodate various roles and maximize employee satisfaction, while also acknowledging the evolving nature of work dynamics in a post-pandemic time.
It is also interesting to note that in the changing landscape of American industry, the South has emerged as a powerhouse. From Texas to Virginia, it's the new heartland, attracting investment and driving growth. President Joe Biden's focus on manufacturing spurs this transformation. Notably, Ford Motors Co (NYSE:F) and SK Innovation Co's electric vehicle complex in Tennessee confirms the region's development.
Speaking of Ford Motors Co (NYSE:F), the company announced in October, 2023 that it would postpone approximately $12 billion in electric vehicle (EV) investment due to North American customers' reluctance to pay a premium for EVs over internal-combustion or hybrid alternatives. The decision, therefore, reflects challenges in meeting ambitious production goals amid slower-than-expected EV adoption rates. While Ford Motors Co (NYSE:F) maintains its commitment to future EV models, it plans a more gradual ramp-up of manufacturing capacity. The postponement means they are delaying a second battery plant in Kentucky but will continue construction of Blue Oval City in Tennessee. Ford Motors Co (NYSE:F)’s EV business unit, Model e, reported a $1.3 billion operating loss in Q3 2023, doubling year-over-year losses despite revenue growth.
A group of smiling job seekers shaking hands with employers at a job fair.
Our Methodology
To list the fastest growing industries looking to hire in the US, we have selected occupational sectors based on the Bureau of Labor Statistics’s projected percentage change in employment., (2022-2032), by occupational group. The list is presented in ascending order.
Here is a list of the 15 Fast-Growing Industries Looking To Hire in the US:
15. Educational Instruction and Library
Change in Employment: 2.3%
In educational instruction and library occupations, projected job growth from 2022 to 2032 is average, with around 857,600 annual openings. The median annual wage in May 2022 was $57,490 which is higher than the median for all occupations. While different roles exist like adult literacy teachers ($58,590), high school teachers ($62,360), and postsecondary teachers ($80,840), the educational requirements range from associate's degrees for preschool teachers ($35,330) to master's degrees for instructional coordinators ($66,490) and librarians ($61,660).
Education is one of the fastest growing industries in the world.
14. Construction and Extraction
Change in Employment: 2.5%
Construction and extraction occupations involve various roles in building and repairing structures like roads and homes. Projected to grow as fast as the average for all occupations, these fields anticipate around 646,100 annual openings from 2022 to 2032. With a median annual wage of $50,570, the field pays higher than the overall median. Workers in this sector are construction laborers, carpenters, and electricians etc. It is one of the industries in the US that are booming right now.
13. Installation, Maintenance and Repair
Change in Employment: 3.6%
Installation, maintenance, and repair occupations are projected to grow at an average pace with around 582,100 annual openings from 2022 to 2032. The highest-paid roles include line installers and repairers with a median wage of $82,340, followed by aircraft and avionics equipment mechanics and technicians at $70,740. General maintenance and repair workers earn the lowest median wage at $44,980. It is one of the fastest growing industries in 2024.
To read more about industries and hiring, see Top 19 Industries That Are Hiring Right Now.
12. Arts, Design, Entertainment, Sports and Media
Change in Employment: 3.8%
In May 2022, Arts, Design, Entertainment, Sports, and Media Occupations in the United States totaled approximately 2,063,380 jobs, with a mean hourly wage of $36.78 and an annual mean wage of $76,500. The Motion Picture and Video Industries employed the highest number of workers, with 198,620 jobs and an hourly mean wage of $50.95, while Spectator Sports offered the highest mean wage at $93.18 per hour. The District of Columbia is the highest in salaries for the these occupations, with an hourly mean wage of $52.47.
11. Architecture and Engineering
Change in Employment: 5.2%
In architecture and engineering occupations, approximately 188,000 job openings are projected annually from 2022 to 2032. The highest-paid position is petroleum engineers with a median annual wage of $131,800, while surveying and mapping technicians have the lowest median pay at $47,180. Among these roles, aerospace engineers command high salaries and opportunities for growth. Architecture is one of the fastest growing industries in the next 5 years.
10. Management
Change in Employment: 5.4%
Management occupations are projected to see major growth, with approximately 1.1 million annual job openings from 2022 to 2032. Among these roles, computer and information systems managers command the highest median pay at $164,070 annually, while preschool and childcare center directors have the lowest median pay at $49,690. The position with the highest projected growth and high pay is in computer and information systems management. It is also worth noting that technology is one of the fastest growing industries by 2030. Conversely, preschool and childcare center director positions are expected to have fewer openings and lower pay.
9. Transportation and Material Moving
Change in Employment: 5.4%
Transportation and material moving occupations are projected to grow faster than average, with about 1.9 million yearly openings. The highest-paid occupation is air traffic controllers with a median pay of $132,250, while taxi drivers have the lowest median pay at $32,440. Airline and commercial pilots are also well-compensated, earning $148,900 annually. Water transportation workers follow closely with a median pay of $66,100.
8. Business and Financial Operations
Change in Employment: 5.6%
Business and Financial Operations Occupations employ around 9.68 million people, with a mean annual wage of $86,080. The highest levels of employment are in management of companies and enterprises, management, scientific, and technical consulting services, and the federal executive branch. The industry with the highest hourly mean wage is securities, commodity contracts, and other financial investments and related activities, with an annual mean wage of $135,250. Finance is one of the top 10 fastest growing industries in the world.
7. Legal
Change in Employment: 5.9%
In the legal occupations sector, projected growth from 2022 to 2032 exceeds the average, with approximately 91,700 annual job openings expected due to both expansion and replacement needs. The highest-paid position is that of lawyers, with a median annual wage of $135,740, while paralegals and legal assistants typically earn a median of $59,200. To read more about lawyers, see the highest paying countries for lawyers.
Legal industry is one of the fastest growing industries in the next decade.
6. Personal Care and Service
Change in Employment: 6.1%
Personal care and service occupations include a diverse range of roles, from animal care and service workers to skincare specialists. With a projected annual average of 752,700 job openings, growth in this sector is expected to outpace the national average from 2022 to 2032. The highest median pay belongs to funeral directors at $58,820 annually, while childcare workers have the lowest median pay at $28,520. Fitness trainers and instructors, with a median pay of $45,380, lead in earnings among non-degree-required positions. Personal care is one of the fastest growing industries by revenue.
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Disclosure: None. 15 Fast-Growing Industries Looking To Hire in the US is originally published on Insider Monkey.
