Surviving the Slump
While construction and manufacturing industries are shedding jobs, other sectors remain unscathed this year when it comes to performance and employment:
— Health Care – With a growing trend in home health care and an increasing demand from an aging population, this sector added 368,000 jobs in the past year alone
— Mining – adding 222,000 jobs in the past five years, this sector is largely on the back boom in demand from developing nations such as
For some people, fattening their paychecks may be as simple as relocating to one of the top-five regions with the highest average annual wage:
1. District of Columbia - $64,150 2. Massachusetts - $49,070 3. Connecticut - $47,680 4. New York - $47,610 5. New Jersey - $47,100
According to IBISWorld, the industry to outpace all others in terms of average annualized growth in wages is Voice Over Internet Protocol Providers (VoIP); set to hit 21.8 percent by 2012. Although VoIP is 16 percent ahead of its nearest competitors, other industries are likely to see an impressive wage growth as well:
— Technical and Trade Schools; Test Development and Educational Support Services; and Live Music, Events and Sports Entertainment Promotions – all tied with 5.7 percent
-- Fashion Design Services - 5.6 percent -- Social Advocacy Organizations - 5.1 percent -- Laboratory Testing Services - 5 percent
IBISWorld also expects to see strong job growth in physical therapy, interior design, retirement communities, ambulance services, IT support, customer relationship management and business process services.
About IBISWorld, Inc.
Recognized as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every U.S. industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in