Despite last Friday’s dismal official employment numbers, the job market may be a lot healthier than it looks. A new study from CareerBuilder and its analytics arm, EMSI, says employment in 1 out of 3 U.S. industries is about to take off.
“The growth will be broad-based, covering everything from IT services to sports instruction,” says Matt Ferguson, CareerBuilder’s CEO. “It’s a good indication of stability and strength in the labor market."
The U.S. is projected to create about 7.2 million jobs between 2016 and 2021, an increase of 4.6%. But, based on data from more than 90 national and state employment sources, EMSI found a wide variety of fields likely to add at least 15% more openings, and in a few industries more than three times that many.
The top 10 on CareerBuilder’s list, with percentage growth over the next five years:
- Online retailing - 32%
- Translation services - 28%
- Physical/occupational/speech therapy - 25%
- Home health care - 24%
- Retirement centers - 24%
- Telemarketing bureaus, other customer contact centers - 20%
- Marketing consulting - 20%
- Environmental/conservation organizations - 19%
- Computer system design - 19%
- Portfolio management - 18%
Three of the top 10 reflect the aging of the American population, while the steady march of U.S.-based companies into overseas markets will boost demand for translators. The projected jump of almost one third in the e-commerce workforce between now and 2021, in the No. 1 spot, looks like yet more bad news for brick and mortar retailers. But warehouse shopping clubs and supercenters will probably keep thriving, says CareerBuilder’s study, adding 17% more jobs over the next five years.