Business Insider recently ran an article looking at Labor Bureau statistics and predicting which industries will experience significant decline in the next decade, and another article suggesting which industries will boom. While I don’t agree with their whole list, it makes for interesting reading. I don’t think that this list has factored in the game changing influence of fracking and shale gas, which will provide significantly cheaper, locally sourced energy for American industry and manufacturing for example. They also don’t take enough account of rapdily advancing computing power and artificial intelligence.
Business Insider introduced their “doomed” list this way:
The clock is ticking on several industries that have long been staples of the American economy.
A new report from the U.S. Bureau of Labor Statistics highlights the industries that are expected to decline the most over the next 10 years. In one of the fields, the BLS forecasts that the workforce will shrink by more than 50% between 2012 and 2022.
Manufacturers of all types will take the brunt of the hit. Industries that produce everything from computer equipment to leather products are expected to bleed positions in the coming years.
It seems that most “made in America” products will soon be relics of the past.
Then, their top ten doomed list:
10. Miscellaneous manufacturing
9. Textile mills and textile product mills
8. Hardware manufacturing
7. Newspaper, periodical, book, and directory publishers
6. Spring and wire product manufacturing
5. Computer and peripheral equipment manufacturing
4. Postal Service
3. Communications equipment manufacturing
2. Leather and allied product manufacturing
1. Apparel manufacturing
Their “boom” list was introduced this way:
A decade ago, Google had not yet gone public, the Affordable Care Act wasn’t law, and no one saw big data coming. The job market was entirely different then, as it will be a decade from now.
A new data release from the U.S. Bureau of Labor Statistics reveals which industries are going to grow the fastest between 2012 and 2022. Health care and technology, already giants today, are expected to keep up their rapid growth over the next decade. At the same time, manufacturing is expected to continue its rapid decline.
So if you’re looking ahead to the future, here are the industries that are going to boom.
Their top ten boom list is:
10. Facilities support services
9. Veneer, plywood, and engineered wood product manufacturing
8. Offices of health practitioners
7. Office administrative services
6. Cement and concrete product manufacturing
5. Computer systems design and related services
4. Management, scientific, and technical consulting services
3. Outpatient, laboratory, and other ambulatory care services
2. Individual and family services
1. Home health care
What do you think?
Is this what you expect in your country?