What are the fastest growing economic sectors in the US today?
Are you willing to start your professional career in one of the fastest growing economic sectors in US? Every person has the dream to work for an industry which has the potentiality to grow rapidly even in extreme economic condition. Starting a new business is always risky but if you are aware that the sector in which you are going to invest your valuable money has a bright future then it will certainly be easier for you to face extreme challenges in a smart way. Below are discussed about the top growing economic sectors in US today.
1. Health care Sector
With the increase the number of aged people, you will be able to experience a huge growth in the health care sector in US. According to a survey conducted by U.S. Bureau of Labor Statistics, it has been found that there will be a huge growth of job opportunities in health care sector in 2014 to 2024 in compared to various other major sectors. Besides this, increase in the number of aged people, expansion of healthcare facilities to million people under Affordable Care Act will certainly give rise to a huge demand in the services of healthcare sector in US. For instance, the statistical data released by U.S. Bureau of Labor Statistics states that the requirement of registered nurses will increase by 2,751,000 in 2014 to 3,190,300 in 2024 (around 16% growth) and that of Physical Therapists by 210,900 in 2014 to 282,700 in 2024 (around 34%). The survey has also highlighted that increase of employment in Healthcare sector will increase from 12% in 2014 to 13.6% by the year 2024.
2. Building Construction sector
This is also one of the major economic sectors of US that will have huge potentiality to provide new job opportunities and even help the economy to grow in a better way. Whether it’s residential or commercial project, the construction sector will experience a growth of 8.8% annually and besides this, it will also help in enhancing the employment rate to 48% by the year 2020. The U.S Census Bureau has also highlighted that investment in the field of non- residential construction will increase by about 7.4% from 2015 to 2016.
3. Sector providing Support services
If you are planning to start your professional career with one of the reputed industries providing support services then you can certainly hope to get success in a smart way. According to a survey, it has been found that annual growth in this sector will be around 2.9% which equals to 177,600 job opportunities till the year 2020. You can even start your own firm providing unique services in this sector and thereby gain huge success even in this striving economy.
4. Educational Sector
There is no doubt that educational sector is one such sector which will attract investors in the coming years. The increase in awareness among people of US about the benefits of providing higher education will certainly help the $1.5 Trillion industry to grow by about 5 % annually. These are some of the top sectors of US that have the potentiality to provide huge job opportunities and thereby help the economy to overcome challenges in a smart way.