Private education services is one of today’s fastest-growing industries nationwide.Though growth is always good, the ability to fill positions in this industry could be quite difficult in the coming years. Therefore, it is crucial that employers in this industry remain ahead of the trends by looking at projected labor market data.
Looking at data from EMSI’s Analyst tool, for example, employers can see the projected change of employment in the private education services industry – and effectively determine which markets will grow and which ones will shrink. According to the Analyst’s projections, there are currently 2,619,156 people employed in the private education services industry in the U.S. Over the next five years, this industry is projected to grow 14 percent, and by the year 2018, there will be an estimated 2,983,965 workers in private education services.
But which parts of the country are expecting the greatest amount of growth?
As shown in the map above, New York will see the greatest change in employment by 2018, with an expected growth of 10 percent and 17,000 added employees in private education services. Atlanta is going to be one of the fastest growing metropolitan statistical areas in the country. In the next five years, the area is expected to grow 24 percent, from 45,219 workers to 55,918 workers. This large influx of new employees will make Atlanta the eighth largest MSA in the industry, surpassing San Francisco.
Though the majority of markets will see growth, some markets will see a slight decline in jobs. St. Louis, Mo., for example, is expecting a large loss of jobs. The current number of people employed in St. Louis is 29,731, but by 2018, that number will be down to 28,171, representing a 5 percent decline.
Now let’s look at the largest businesses in the private education services industry.
Looking at the chart above, you can see that only one of the top 10 businesses is not a university: the School Board of the City of Norfolk, the sixth largest employer nationwide. The largest business is the University of California – Berkeley, employing 8,645 people. After a significant drop off, it is followed by the University of Minnesota with 6,106 employees and Harvard University Health Services. But when it comes to who’s hiring, the numbers tell a different story.
Data from CareerBuilder’s Supply & Demand Portal shows us the top job posters in private education services. Unsurprisingly, many on this list are also universities. By far, the top job poster nationwide in this industry is Knowledge Learning, with more than double that of the second top job poster, Devry with 1,108 job postings. The University of Knowledge rounds out the top three with 606 job postings.
What does this information mean for you? If you’re a recruiter, understanding where job growth is highest – and who’s hiring – you can start to plan for an influx of growth. Data from the Supply & Demand Portal can also help you understand which areas will have the highest supply of candidates for these jobs and what you can expect to pay in order to compete for these individuals.
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