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Fastest Growing Industries

Overview

Fastest Growing Industries

Discover which states have the best job opportunities

Finding the best job for you can sometimes be challenging, especially when you don’t know where to start. 

That’s why at Lensa we’ve made it just that little bit easier for you to find the industry that best suits you. Through a simple job search, you could be well on your way to finding a more meaningful and fulfilled career. 

After doing some in-depth research and analysis, we’ve compiled a list of the fastest-growing industries, such as leisure and hospitality which is expected to see a 13.64% increase by 2031. We also researched the states with the highest employment rates – California was part of the list with a whopping 98% rate of employment. 

Needless to say, finding out the most in-demand jobs will not only help you discover plenty of career opportunities out there but will empower you to make the best career decision for yourself. 

The Industries with the Fastest-Growing Number of Jobs

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  1. Leisure and hospitality

Percentage change in the number of jobs 2021- 31: 13.64%

When it comes to the industries with the fastest-growing number of jobs, the leisure and hospitality industry takes the lead. This comes as no surprise as they are both valuable sectors that encourage the growth of socio-economic development. 

  1. Health and social care assistance

Percentage change in the number of jobs 2021- 31: 13.00%

Health and social care assistance takes the second spot with a projected increase of 13.00%. This is to be expected considering the increasing level of demand for healthcare services in the country. It is said that the US spends more money on healthcare than many other high-income countries. 

  1. Mining

Percentage change in the number of jobs 2021- 31: 12.28%

The mining industry completes the top three. Though one of the oldest industries, mining continues to experience steady growth. With an estimated increase of 12.28%, there is no doubt that it is one of the most important sectors in the US. 

The Industries with the Most Searched Jobs 

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  1. Transportation and warehousing 

Job searches: 692,000 

After taking a quick dive into the most popular job searches, we really got a deeper look at the types of jobs people are looking for. Interestingly, jobs in the transportation and warehousing industry seemed to have struck a chord with job seekers the most. 

With search terms such as “warehousing jobs” and “transportation jobs” getting 638,000 and 54,000 job searches respectively, their overall score of 692,000 leaves them as no match when pitted against other major industries. 

  1. Financial activities (insurance, real estate, rental, and leasing) 

Job searches: 204,000

The finance industry follows behind with a massive difference of a whopping 239% when it comes to search interest. 

Despite its strong second-place position, financial activities saw a change of -0.39% in its search volume from 2020 to 2022. However, this hasn’t stopped its growing demand as in just the last 12 months, searches for “finance jobs” hit 204,000. 

  1. Federal government 

Job searches: 172,800

Federal government jobs sit in third place with a search volume of more than 170,000. Not only are government jobs high-paying but their promising growth prospects have led to more people searching for better job opportunities.

The Industries with the Fastest-Growing Number of Businesses

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  1. Educational services  

Percentage change in the number of businesses 2009-19: 21.97%

Educational services take the top position for the fastest-growing number of businesses in 2019. This major industry witnessed a staggering increase of 21.97% in just one decade. This boom comes as a result of education becoming more diverse in recent years. For example, more private and for-profit schools have started to offer many kinds of advanced programs and degrees. 

  1. Transportation and warehousing

Percentage change in the number of businesses 2009-19: 19.04%

Transportation and warehousing grab second place with 19.04%. The constant demand within this industry stems from the ever-increasing use of mass production. Whether it’s purchasing raw materials or the distribution of finished goods, this sector comes as a necessity. 

Therefore, as the creation of new markets continues to increase and old ones continue to expand, the demand for transporting and warehousing goods also continues to grow. 

  1. Leisure and hospitality

Percentage change in the number of businesses 2009-19: 17.80%

In third place is the leisure and hospitality industry. The number of businesses in this sector experienced a growth of 17.80% in the span of 10 years. Not only is leisure and hospitality a huge and diverse industry in the US, but it is also ever-expanding. 

The Industries with the Highest GDP Growth

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  1. Financial activities (insurance, real estate, rental, and leasing) 

GDP growth: $7,824.1bn

With huge economic drivers such as real estate and insurance, it comes as no surprise that the finance industry produced as much as $7.8 billion in 2021. Real estate, rental, and leasing accounted for $4.3 billion alone in that year. 

  1. Manufacturing 

GDP growth:  $6,318.7bn

Once again, manufacturing sits within the top three spots with a GDP of over $6.3 billion. This industry is no doubt one of the most valuable to the US economy as it is a major driving force for job growth and technological advancements. 

  1. Professional and business services 

GDP growth: $4,964.5bn

Professional and business services grab third place with a GDP growth of almost $5 billion. This sector is an essential contributor to economic as well as employment growth in the US, hence its strong position on the list. 

The States with the Highest Employment Rates

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  1. California, North Dakota, South Carolina, Utah, Vermont 

Employment rate: 98% 

Ever wondered which states have the best job opportunities? Well, according to research, Colorado, North Dakota, South Carolina, Utah, and Vermont all have pretty stellar job prospects each with an impressive 98% employment rate as of 2022. 

The States with the Highest YoY Employment Change

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  1. Texas 

Employment change: 721,800 | YoY change: 5.6% 

Home to almost 30 million Texans, it perhaps isn’t shocking to find out that the state of Texas received the highest year-on-year employment change with a massive 5.6%. 

Nicknamed the “Lone Star State,” Texas also welcomed a whopping 721,800 workers in the span of just one year. This is the highest number of people entering the workforce compared to any other US state in the top 10. 

  1. Louisiana 

Employment change: 95,600 | YoY change: 5.2% 

Louisiana is also placed highly on the list. The southern state experienced year-on-year growth of 5.2% with more than 95,000 new jobs made available. Due to this huge achievement, the state well-known for its cultural diversity hit an all-time high. Louisiana had the lowest unemployment rate in state history as of June 2022. 

  1. Florida 

Employment change: 463,300 | YoY change: 5.1% 

Florida’s 5.1% year-on-year increase places it in third place. The popular US state experienced a surge in job growth in July 2022 outpacing the national rate of employment by an impressive feat after gaining 463,300 new employees.

The Most In-Demand Jobs

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  1. Nurse practitioners 

Median pay per year: $120,680 | Percentage growth rate: 46%

The increasing rate of aging Americans poses a growing demand on the health care system, particularly the need for more nurse practitioners. So much so that jobs in this sector are expected to grow by a massive 46% by 2031.

As of 2021, nurse practitioner jobs were also among the highest paid jobs in the US with an average annual pay of $120,680. 

  1. Wind turbine service technicians 

Median pay per year: $56,260 | Percentage growth rate: 44%

Though not as widely known, the demand for wind turbine service technicians is estimated to rise by nearly half (44%) during the course of the next decade. This level of continuous growth has been fueled by tax incentives that encourage the construction of wind towers. This is primarily due to the increased interest in reducing the costs associated with sustainable energy. 

  1. Ushers, lobby attendants, and ticket takers

Median pay per year: $24,440 | Percentage growth rate: 41%

Ushers, lobby attendants, and ticket takers are also in the top percentile with an anticipated growth rate of 41%. Though not considered to be a high-paying job ($24,440), the constant demand for workers in the entertainment sector has led to its consistent growth. 

The Fastest-Growing Jobs

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  1. Nurse practitioners 

Employment change: 112,700 | Percentage of employment change: 45.7%

Nurse practitioners cling to the top spot as the fastest-growing occupation in the US. With its current level of growth, it is expected to see an employment change of 112,700 which is projected to constitute almost 46% in the next decade.

  1. Cooks, restaurant 

Employment change: 459,900 | Percentage of employment change: 36.6%

Interestingly, the growing need for restaurant cooks is on the rise. Not only is it estimated that nearly 460,000 new restaurant-related jobs will be available in the next 10 years but this employment change accounts for 36%.

  1. Animal caretakers

Employment change: 86,900 | Percentage of employment change: 29.9%

Sitting in third place, Animal caretakers are projected to see an increase of nearly 30% in the coming decade. This percentage increase is on average much faster than many other occupations. 

The Biggest Industries in Each State

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  1. California 

Biggest industry: Information | GDP: $434.79bn 

Considering that California is home to one of the largest tech hubs in the world, it is no surprise that the sunny state’s most thriving industry is in fact, information. With an impressive GDP of almost $435 billion, it’s clear that California’s biggest sector truly has grown by leaps and bounds over the past few years. 

  1. New York 

Biggest industry: Finance and Insurance | GDP: $267.86bn

New York sits in second place with finance and insurance as its leading industry. Dubbed the “Big Apple”, this influential state reached a GDP of almost $268 billion in 2022. 

  1. Texas

Biggest industry: Manufacturing | GDP: $237.94bn

Texas takes third place with manufacturing as its biggest industry. This is unsurprising as the sector is deemed to be the backbone of the economic and social development of any economy, hence it sits among 60% of the top 10 US states. Needless to say, manufacturing is one of the highest-earning industries. 

Methodology

The majority of data used within this research was taken and ranked using the U.S. Bureau of Labor Statistics which can be found here: 

Number of jobs by industry 

GDP growth by industry 

Most in-demand jobs

The fastest-growing jobs

YoY employment change by state 

The number of businesses in each industry can be seen on the United States Census Bureau.

Statistics for the employment rate by US state can be found on the World Population Review website. 

Figures for the biggest industries in each state were from Forbes. This took into account the real GDP for all 50 states plus the District of Columbia. 

Research for the jobs within each industry was collected using search volume. This was taken from Google’s Keyword Planner

Most Sought-After Professions in the US for 2023

In today’s rapidly evolving job market, certain roles and industries have begun to stand out as the most sought-after in the United States. In this interactive chart, we shed light on the professions that are turning heads as of April 2023. Dive into the data to discover and explore the shifting trends of the American workforce. 

 

Team Lensa
Team Lensa
Team Lensa is a group of HR specialists, career counselors, and tech enthusiasts dedicated to helping job seekers navigate the employment landscape through actionable tips and insights.

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