As technology and globalization continue to change the makeup of the U.S. workforce and push the economy in new directions, we’re seeing some breakout stars when it comes to job growth. New data from Economic Modeling Specialists Intl., CareerBuilder’s labor market analysis arm, shows that a diverse group of industries is coming out to play — and we’re not going to see them slowing down anytime before 2019 when it comes to bringing on new talent (and more of it).
CareerBuilder has released a list of the industries expected to add jobs at an accelerated pace from 2014 to 2019, based on EMSI’s data from more than 90 national and state employment resources. According to the data, the U.S. is projected to create roughly 8 million jobs from 2014 to 2019 – a 5 percent increase. And a significant number of industries will likely experience an even greater percentage gain during this period.
A sampling of the fastest-growing industries from 2014-2019:
|Industry||2014 Jobs||2019 Jobs||Job Added 2014 – 2019||2014 – 2019 % Change|
|Translation and Interpretation Services||34,431||46,832||12,401||36%|
|Specialty Hospitals (except Psychiatric and Substance Abuse)||205,998||266,694||60,696||29%|
|Home Health Care Services||1,344,672||1,677,455||332,783||25%|
|Wine and Distilled Alcoholic Beverage Merchant Wholesalers||78,668||97,990||19,322||25%|
SEE THE FULL LIST
What does this mean for you?
Around one-third of all U.S. industries are expected to outperform the national average for employment growth over the next five years. Is yours one of them? EMSI’s data shows that the accumulation of new jobs will take place within a diverse mix of industries that require a broad range of skills and experience, from home health care to STEM jobs to alcoholic beverage management.
As we’ve discussed before, there is a gap between the number of jobs available, particularly in high-skill fields, and the number of qualified candidates available to fill them.
So if you’re planning on significant growth in the months and years ahead, you’ll want to make sure you’re doing these things:
1. Covering all your bases when it comes to hiring the right people. Workers in STEM (science, technology, engineering and mathematics) are driving innovation and competitiveness in today’s evolving workplace – so it’s no surprise they’re in high demand (and low supply). If you’re not finding the talnt you need, consider re-adjusting your job descriptions. Identify the skills you need versus the skills you can train for. Following that, the right labor market data tools, such as Supply & Demand and EMSI Analyst, can help you identify candidates who match your job criteria. Learn how to have the right conversations.
2. Investing in your current employees. If you’re not already working to reskill your employees, you could be falling behind those companies who are keeping up their rapid pace of job growth by augmenting new hires with employee promotion within the company. Learn more about reskilling and retraining your employees. (Oh, and psst… did you know training actually increases loyalty?)
3. Keeping a list of qualified and interested candidates at your fingertips. By recruiting year-round, you’re not left scrambling when positions open up — and having a talent network can ensure you have a continuous supply of the talent you need (particularly in times of high-volume hiring). Check out the three reasons to invest in a talent network.
See the list of the 20 hottest industries for job growth in the next five years.