In recent years, the United States and the world as a whole has experienced unprecedented changes due to factors such as the COVID-19 pandemic and the sudden “golden age” of artificial intelligence. These major factors will inevitably shape the industries that serve society. So which industries will experience the greatest growth and greatest decline in the next decade? This infographic explores data from the Bureau of Labor Statistics to showcase the fastest-growing and fastest-declining industries in the United States. Sectors that are predicted to experience the most growth include leisure, hospitality, healthcare, and social assistance. The number one industry is event promotion and management, which is predicted to increase employment by 39.2%. The second fastest-growing industry is amusement parks and arcades, which is forecast to grow 37.5%. The third fast-growing industry is performing arts companies, which is predicted to grow 34.6%. Perhaps people just want to have fun and let loose after the pandemic? Or it may be that these industries require emotional intelligence, social skills, and creativity so they are at less of a risk of being replaced by automation. What about the sectors that will experience the greatest loss in employment between 2021-2031? Manufacturing, information, agriculture, mining, and financial activities are all expected to take a major hit over the next decade. The number one fastest-declining industry is tobacco manufacturing. It is no secret that smoking is going out of style – the U.S. adult smoking rate has declined from around 42% in the 60s to 11% now. Plus, manufacturing jobs are at the highest risk of being replaced by artificial intelligence. The top four fastest-declining industries are all in manufacturing, including manufacturing of magnetic or optical media, apparel, leather, and allied product manufacturing, and printing and related support activities. This is also influenced by the movement to digital media. All in all, it pays to be creative!
