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Tuesday, February 20, 2018

US: Top Ten Industries With Fastest Job Growth

The Bismarck Tribune has an interesting "top ten" list: industries with fastest job growth.

1. Support activities for mining
  • difference from national average: a whopping 14x
  • annual growth rate: a whopping 21%
  • this sector added 52,500 new jobs, bringing its total employment number to 307,000 – a whopping increase of 20.6%
  • includes extraction of oil and gas
  • subset of the larger "Mining and Logging Industry"
  • at an annual growth rate of 21% and a whopping 14x difference from the national average, it is so far ahead of the crowd, it hardly matters to show the rest of the list, but here they are. Also, overall, this sector probably has the best paying jobs compared to the rest of the list
  • typical of a boom and bust industry
2. Other information services
  • difference from national average: 4x
  • annual growth: 6%
  • a subset of the larger "Information" industry: includes news syndicates; libraries, archives; Web search portals
3. Nonstore retailers
  • difference from national average: 4x
  • annual growth: 5%
  • mail-order houses, vending machine operators, home delivery sales, street vendors, e-commerce shopping
  • comment: it seems e-commerce shopping needs to be separated out or moved to information services but something needs to be done -- e-commerce shopping and street vendors don't need to be in same category
4. Couriers and messengers
  • difference from national average: 3x
  • annual growth: 5%
  • a subset of the larger "Transportation and Warehousing" industry
  • this ensures the typical millenial will always have a job
  • Uber in this category? 
5.  Heavy and civil engineering construction
  • difference from national average: 3x
  • annual growth: 5%
  • highways, dams -- all that infrastructure stuff the federal government talks about every four years
6. Residential specialty trade contractors
  • difference from national average: 3x
  • annual growth: 5%
  • subset of the larger "Construction" industry; plumbing, electrical, etc.; we're certainly seeing this in north Texas
7. Miscellaneous nondurable goods manufacturing
  • difference from national average: 3x
  • annual growth: 4%
  • subset of the larger "Nondurable Goods" industry; diverse industry -- clothing, sporting goods, toys, jewelry and medical products
8. Administrative and support services
  • difference from national average: 2x
  • annual growth: 3%
  • includes general management, personal administration, clerical and cleaning activity
9. Warehousing and storage
  • difference from national average: 2x
  • annual growth: 3%
10. Ambulatory health care services
  • difference from national average: 2x
  • annual growth: 3%
  • physicians, dentists, home care workers, others

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