The noted Austrian economist Joseph Schumpeter is credited with coining the term “creative destruction,” a quick summary of how free-market economies discard obsolete jobs.
Nowhere does that happen more frequently than in the United States, which is constantly reinventing itself. Innovation has heralded job opportunities in areas of the economy that did not exist a generation ago. Just as automobiles brought an end to the horse-drawn age, new technologies and platforms such as solar energy and the internet have created millions of jobs in those sectors. (These are the industries with the most job openings.)
To identify America’s 25 thriving industries, 24/7 Wall St. reviewed employment change from 2011 through 2020 for U.S. industries in the fourth level of detail as reported by the U.S. Bureau of Labor Statistics’ Quarterly Census of Employment and Wages.
Longer-term demographic shifts and technological advances are major drivers behind new job creation. As the baby-boom generation ages, companies are meeting the needs for services for the elderly and disabled. Job growth is soaring among ambulatory health care services and with mental health practitioners, each of which has seen employment increase more than 90% in between 2011 and 2020.
Employment at internet publishing and web search portals, meanwhile, leaped more than 177% from 2011 to 2020. It also is among the best-paying of the sectors, with an annual salary above $267,000 as of 2020.
Click here to see 25 American industries are thriving
Breweries and distilleries have added jobs at a brisk clip as well, reflecting changing American tastes in the consumption of alcohol. Employment among local messengers and delivery companies also rose dramatically, more than 213% from 2011 to 2020.
As America gradually shifts from fossil fuels to cleaner energy sources, the job market in solar power and wind generation has accelerated. Another trend of note is the explosion in industrial warehouse and storage space across the country. Employment has risen in that sector by more than 146%. (Here is a look at each state’s largest industry.)
25. Translation and interpretation services
> Employment change 2011-2020: 81.82%
> Employment 2020: 41,725
> 10-yr. change in avg. annual pay: -16.36%
> Avg. annual pay 2020: $48,220
[in-text-ad]
24. Storage battery manufacturing
> Employment change 2011-2020: 85.27%
> Employment 2020: 26,370
> 10-yr. change in avg. annual pay: 36.85%
> Avg. annual pay 2020: $75,455
23. Software publishers
> Employment change 2011-2020: 85.82%
> Employment 2020: 502,165
> 10-yr. change in avg. annual pay: 41.30%
> Avg. annual pay 2020: $182,418
22. Truss manufacturing
> Employment change 2011-2020: 85.96%
> Employment 2020: 31,594
> 10-yr. change in avg. annual pay: 46.57%
> Avg. annual pay 2020: $48,901
[in-text-ad-2]
21. Light truck and utility vehicle manufacturing
> Employment change 2011-2020: 91.52%
> Employment 2020: 67,314
> 10-yr. change in avg. annual pay: -8.35%
> Avg. annual pay 2020: $76,071
20. Nail salons
> Employment change 2011-2020: 93.21%
> Employment 2020: 94,629
> 10-yr. change in avg. annual pay: 31.20%
> Avg. annual pay 2020: $20,303
[in-text-ad]
19. Miscellaneous ambulatory health care services
> Employment change 2011-2020: 93.61%
> Employment 2020: 64,788
> 10-yr. change in avg. annual pay: 37.30%
> Avg. annual pay 2020: $69,134
24/7 Wall St.
18. Offices of mental health practitioners
> Employment change 2011-2020: 95.34%
> Employment 2020: 123,983
> 10-yr. change in avg. annual pay: 18.90%
> Avg. annual pay 2020: $43,847
17. New housing for-sale builders
> Employment change 2011-2020: 109.04%
> Employment 2020: 46,150
> 10-yr. change in avg. annual pay: 61.74%
> Avg. annual pay 2020: $103,123
[in-text-ad-2]
16. All other pipeline transportation
> Employment change 2011-2020: 111.55%
> Employment 2020: 806
> 10-yr. change in avg. annual pay: 63.33%
> Avg. annual pay 2020: $105,676
15. Other non-scheduled air transportation
> Employment change 2011-2020: 112.85%
> Employment 2020: 6,309
> 10-yr. change in avg. annual pay: 20.97%
> Avg. annual pay 2020: $96,250
[in-text-ad]
14. Other marine fishing
> Employment change 2011-2020: 121.57%
> Employment 2020: 452
> 10-yr. change in avg. annual pay: 85.34%
> Avg. annual pay 2020: $88,098
24/7 Wall St.
13. Wind electric power generation
> Employment change 2011-2020: 131.70%
> Employment 2020: 6,886
> 10-yr. change in avg. annual pay: 12.25%
> Avg. annual pay 2020: $107,375
12. All other information services
> Employment change 2011-2020: 134.44%
> Employment 2020: 25,800
> 10-yr. change in avg. annual pay: 121.40%
> Avg. annual pay 2020: $153,414
[in-text-ad-2]
11. Political organizations
> Employment change 2011-2020: 134.85%
> Employment 2020: 16,597
> 10-yr. change in avg. annual pay: 31.78%
> Avg. annual pay 2020: $62,186
10. Distilleries
> Employment change 2011-2020: 138.01%
> Employment 2020: 18,148
> 10-yr. change in avg. annual pay: -8.39%
> Avg. annual pay 2020: $67,506
[in-text-ad]
9. Mobile food services
> Employment change 2011-2020: 139.65%
> Employment 2020: 20,555
> 10-yr. change in avg. annual pay: 31.54%
> Avg. annual pay 2020: $22,882
8. General warehousing and storage
> Employment change 2011-2020: 146.89%
> Employment 2020: 1,344,544
> 10-yr. change in avg. annual pay: 7.38%
> Avg. annual pay 2020: $43,707
7. Services for the elderly and disabled
> Employment change 2011-2020: 177.07%
> Employment 2020: 1,987,729
> 10-yr. change in avg. annual pay: 14.51%
> Avg. annual pay 2020: $21,738
[in-text-ad-2]
6. Internet publishing and web search portals
> Employment change 2011-2020: 177.45%
> Employment 2020: 291,104
> 10-yr. change in avg. annual pay: 98.88%
> Avg. annual pay 2020: $267,732
5. Breweries
> Employment change 2011-2020: 197.51%
> Employment 2020: 79,457
> 10-yr. change in avg. annual pay: -27.06%
> Avg. annual pay 2020: $48,032
[in-text-ad]
4. Other food crops grown under cover
> Employment change 2011-2020: 212.35%
> Employment 2020: 26,353
> 10-yr. change in avg. annual pay: 48.83%
> Avg. annual pay 2020: $40,373
24/7 Wall St.
3. Local messengers and local delivery
> Employment change 2011-2020: 213.16%
> Employment 2020: 144,704
> 10-yr. change in avg. annual pay: 31.37%
> Avg. annual pay 2020: $38,878
2. Other electric power generation
> Employment change 2011-2020: 217.92%
> Employment 2020: 2,537
> 10-yr. change in avg. annual pay: 45.29%
> Avg. annual pay 2020: $139,615
[in-text-ad-2]
1. Solar electric power generation
> Employment change 2011-2020: 704.88%
> Employment 2020: 4,290
> 10-yr. change in avg. annual pay: -10.41%
> Avg. annual pay 2020: $106,656
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
