Since the end of the recession in 2010, the U.S. economy has added more than 16 million new jobs. The expansion of the labor market that began during the Obama administration is continuing under Trump, although overall, things could be slowing down a bit.
According to theotal nonfarm payroll employment increased by 156,000 in August, falling short of expectations that were closer to 200,000. For perspective, 176,000 jobs were added in August of 2016.
The August 2017 numbers put year-over-year growth at just over 2 million jobs – a reasonable annual growth rate of 1.45%, but lower than the 1.74% seen during the same time last year.
Despite slower than expected growth nationally, certain industry sectors are faring far better than the average. To figure out which industries are growing the fastest, analysts at business research fird the most recent BLS report to calculate growth rates for every industry. From healthcare services to mining, the industries below are growing at rates between two and thirteen times the national average.
Methodology
LimeLeads aggregate. Using BLS data from Denmark Phone Number Data August 2016 to August 2017, its research team identified industries with the greatest year-over-year, seasonally adjusted employment growth rates. Only non-farm employees were considered, and industries employing fewer than 250k individuals as of August 2017 were filtered out. The data was pulled on September 7, 2017.
Here are the top 10 fastest growing industries in America:
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10. Ambulatory Health Care Services
Difference from National Average: 2.1X
Jobs Added: 222,100
Total Employment: 7,335,400
Annual Growth Rate: 3.1%
Ambulatory Health Care Services (AHCS) is a subset of the larger Education and Health Services industry. This sector generally includes medical professionals who treat patients on an outpatient basis, such as physicians, dentists, diagnostic laboratories and home care Australia Phone Number workers. AHCS added 222,100 new jobs, bringing its total employment number to 7,335,400 – an increase of 3.1%.
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9. Warehousing and Storage
Difference from National Average: 2.2X
Jobs Added: 30,300
Total Employment: 951,000
Annual Growth Rate: 3.3%
Warehousing and Storage is a subset of the larger Transportation and Warehousing industry. Companies in this sector are primarily engaged in operating warehousing and storage facilities for general merchandise, refrigerated goods, and other warehouse products. This sector added 30,300 new jobs, bringing its total employment to 951,000 – an increase of 3.3%.Photo Credit
8. Administrative and Support Services
Difference from National Average: 2.3X
Jobs Added: 291,300
Total Employment: 8,917,500
Annual Growth Rate: 3.4%
Administrative and Support Services falls under the larger industry of Professional and Business Services. In general, employees in this sector provide support to the day-to-day operations of other organizations, and include positions such as general management, personnel administration, and clerical and cleaning activities. This sector added 291,300 new jobs – an increase of 3.4% – bringing its employment total to 8,917,500.
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7. Miscellaneous Nondurable Goods Manufacturing
Difference from National Average: 2.9X
Jobs Added: 12,300
Total Employment: 289,300
Annual Growth Rate: 4.4%
Miscellaneous Nondurable Goods Manufacturing is a subset of the larger Nondurable Goods industry. Products manufactured in this sector are diverse and include goods as varied as clothing, sporting goods, toys, jewelry and medical products. This sector added 12,300 new jobs – an increase of 4.4% –bringing its employment total to 289,300.
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6. Residential Specialty Trade Contractors
Difference from National Average: 3.0X
Jobs Added: 84,000
Total Employment: 1,943,300
Annual Growth Rate: 4.5%
Residential Specialty Trade Contractors is a subset of the larger Construction industry. Generally speaking, workers in this category perform activities such as home additions, alterations, maintenance and repairs, and can include plumbing, painting, electrical, concrete, and site preparation work.
