Ten American Industries That Are Going to Boom in the Next Decade

Business Insider
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Dec. 28 2013 9:45 AM

Ten American Industries That Are Going to Boom in the Next Decade

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The tech bubble continues to expand.

Photo by Joe Raedle/Getty Images

This post originally appeared in Business Insider.

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. 

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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.

10. Facilities support services

Number employed in 2012: 125,800

Number projected in 2022: 164,400

Percentage growth: 30.6 percent

Why: Companies will always need janitorial, security, and maintenance services, which can't be outsourced to other countries or replaced by technology (at least not yet).

9. Veneer, plywood, and engineered wood product manufacturing

Number employed in 2012: 63,800

Number projected in 2022: 83,500

Percentage growth: 30.9 percent

Why: This is one of the industries that will benefit from increased construction spending, as the effects of the housing bubble wane and people start to build again. 

8. Offices of health practitioners

Number employed in 2012: 3,968,000

Number projected in 2022: 5,193,800

Percentage growth: 30.9 percent

Why: One side effect of the Affordable Care Act is that previously uninsured people will be more likely to seek out health care. Add that to an aging population, and you get plenty of demand for health care services.  

7. Office administrative services

Number employed in 2012: 426,400 

Number projected in 2022: 571,300

Percentage growth: 33.9 percent

Why: Office support staff is typically one of the first things to go during an economic downturn. As the economy improves, more of these jobs will be added.

6. Cement and concrete product manufacturing

Number employed in 2012: 161,600

Number projected in 2022: 218,900

Percentage growth: 35.5 percent

Why: This is another industry to benefit from an increase in construction spending. It will also benefit as government spending on infrastructure stabilizes. 

5. Computer systems design and related services

Number employed in 2012: 1,620,300

Number projected in 2022: 2,229,000

Percentage growth: 37.6 percent

Why: The ongoing tech boom means a growing demand for computer professionals.

4. Management, scientific, and technical consulting services

Number employed in 2012: 1,121,100

Number projected in 2022: 1,577,100

Percentage growth: 40.6 percent

Why: Many tech giants like IBM, HP, and Xerox see the future of their businesses as providing consulting services. This trend is expected to increase over time.

3. Outpatient, laboratory, and other ambulatory care services

Number employed in 2012: 1,151,400  

Number projected in 2022: 1,673,700

Percentage growth: 45.4 percent

Why: Rising demand for health care means rising demand for the services surrounding it. Also, as the U.S. tries to reduce health care costs, more care is expected to take place in outpatient facilities.

2. Individual and family services

Number employed in 2012: 1,311,400

Number projected in 2022: 2,022,900

Percentage growth: 54.3 percent

Why: This is another industry that will benefit from an aging population, since families will need help navigating the state and government services available to them.

1. Home health care

Number employed in 2012: 1,198,600

Number projected in 2022: 1,914,300

Percentage growth: 59.7 percent

Why: Home health care is an easier and less expensive option than an extended hospital stay, and it is expected to boom as the population ages.

Max Nisen is a strategy reporter at Business Insider. Follow him on Twitter.

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