5 Fastest Growing Industries in the Next 5 Years

Fastest growing industries


The U.S. is projected to create approximately 7.2 million jobs in the next five years. And according to a recent CareerBuilder study, the following five industries will experience the most job growth by 2020:


Electronic Shopping

Current Jobs: 245,403

Projected 5-Year Growth: 32%

In the past five years, online shopping revenues have grown exponentially, with no signs of slowing down. Online sales for 2015 topped $335 billion, and Forrester predicts online sales will grow by an average annual rate of 9.32 percent over the next five years. Many industry experts point to the increased speed and availability of mobile networks as the main driver for growth in electronic shopping.

Online retailers such as Amazon and eBay employ the majority of workers in the industry, and both plan on hiring more employees to keep pace with rising demand. The jobs in the industry vary greatly, from eCommerce marketing professionals to software developers to customer service reps and shipping clerks.


Translation and Interpretation Services

Current Jobs: 38,162

Projected 5-Year Growth: 28%

Listed as one of Inc.’s 2014 Best Industries for Starting a Business, the Translation and Interpretation Services industry is projected to grow by 28 percent in the next five years. With more and more companies going global, the demand for these services continues to rise. Companies looking to expand their global reach need translators and linguists in order to market their products to new customers in non-English speaking countries. In order for their global strategy to succeed, they need to ensure their advertisements and content is being translated accurately — so nothing gets lost in translation


Offices of Physical, Occupational and Speech Therapists, and Audiologists

Current Jobs: 374,154

Projected 5-Year Growth: 25%

With an aging baby boomer population of over 76 million, healthcare industries are poised to grow faster than most. The Offices of Physical, Occupational and Speech Therapists, and Audiologists industry comprises many different occupations, but all typically help those with disabilities or injuries. As our elderly population increases, and mental health awareness continues to grow, expect this industry to reap the benefits.


Home Healthcare Services

Current Jobs: 1,466,964

Projected 5-Year Growth: 24%

By 2020, 20 percent of the population with be over 65. Those retirees will eventually need care, and many are already opting to forego traditional retirement communities for home healthcare services. For many, home healthcare can be less expensive than seeking treatment at a hospital or skilled nursing facility. And, unlike generations past, many are preferring to live out their golden years at home rather than a retirement facility. Professionals projected to experience the most growth in this industry are nurses and other companion care professionals.


Continuing Care Retirement Communities

Current Jobs: 474,886

Projected 5-Year Growth: 24%

Again, an aging baby boomer population will drive the growth of this industry. Along with home healthcare services, many retirees are choosing to spend the latter years in a continuing care retirement community rather than a traditional retirement home. Continuing care communities offer more independent living choices, in addition to assisted living options. While this route can be costlier than other options, the industry is projected to grow 24 percent in the next five years. Jobs in the industry include a wide variety of people, including nurse, care givers, administrative staff, maintenance workers and kitchen staff.


Did You Know 80% of Jobs Are Never Advertised?

That’s because organizations either hire internally or work with a staffing agency like Morgan Hunter. We work on an exclusive basis with many Kansas City companies, meaning the only way to find out about their career opportunities is to work with us. If you’re looking for the next step in your career, start your search with us.