As society changes, industries follow suit. Major events such as the COVID-19 pandemic will continue to influence how we work and live for years to come. Other factors, such as the seemingly sudden arrival of functional AI, will also play a role in determining the fate of many industries. So which industries will be the fastest-growing and fastest-declining over the next decade? Bureau of Labor Statistics data indicates that the leisure, hospitality, healthcare, and social assistance sectors will experience the biggest increases in employment numbers between 2021 and 2031. Event promotion, amusement parks, and performing arts companies are the top three fast-growing industries within those sectors. Perhaps people want to have fun and make the most of life after the pandemic? The fastest-declining sectors are manufacturing, information, mining, agriculture, and financial activities.
The fastest-declining industry is tobacco manufacturing, which makes sense because the U.S. adult smoking rate has reached an all-time low this year. Automation through AI may also be a major contributing factor to these changes.
Infographic by: uscareerinstitute
