10 Fastest Growing Industries in America
For years now, agriculture and manufacturing have been stalling, while service sectors have been adding jobs. And that shift will be "cemented" by 2020, according to Nicole Smith, a senior economist at the Georgetown University Center on Education and the Workforce. Smith is a co-author of a new study that identifies the fastest-growing industries and projects that the top five will all be in service industries, like health care and hospitality.
Using state and national data, the report, co-authored by Smith, Anthony Carnevale, the center's director, and Jeff Strohl, the center's research director, projects that a total of 55 million new jobs will be created from 2010 to 2020. Twenty-four million of the jobs are expected to be newly-created positions. The rest are expected to result from retiring baby boomers.
"If the U.S. Congress can deal with budgetary challenges, we are on schedule for recovery," Carnevale said in a press release accompanying the report.
The catch, however, about all the new jobs is that there may not be enough qualified workers to fill the openings. According to the Georgetown study, five million of the total job vacancies will remain open throughout the decade as Americans fail to receive the proper educational and technical training.
Here are the ten fastest-growing industries:
10. Private Education Services
Total jobs in 2010: 3,450,000
Total vacancies 2010-2020: 1,420,000
Percent growth: 28
Find a job now in private education services.
Total jobs in 2010: 3,860,000
Total vacancies 2010-2020: 1,460,000
Percent Growth: 10
Find a job now in natural resources.
Total jobs in 2010: 5,520,000
Total vacancies 2010-2020: 2,080,000
Percent Growth: 13
Total jobs in 2010: 7,370,000
Total vacancies 2010-2020: 2,760,000
Percent Growth: 12
Find a job now in construction.
Total jobs in 2010: 10,070,000
Total vacancies 2010-2020: 3,490,000
Percent Growth: 4
Find a job now in manufacturing.
Total jobs in 2010: 12,930,000
Total vacancies 2010-2020: 5,100,000
Percent Growth: 18
4. Health Care services
Total jobs in 2010: 15,670,000
Total vacancies 2010-2020: 6,590,000
Percent Growth: 26
Find a job now in health care services.