Study reveals which industries have most job growth

Jobs

Which industries are creating more job openings as the US economy attempts to normalize after a bumpy fight against inflation and a bruising election campaign?  There’s some insight in an analysis from MRPeazy, a software firm targeting small manufacturers.

  • The professional and business services industry has the highest increase in job openings from September 2024 to October 2024 at 209,000.
  • The leisure and hospitality industry is second, while the information industry follows in third.
  • The manufacturing industry has the most significant decrease in job openings at -13,000.

The new study identified the industries with the highest and lowest increases in job openings, with the professional and business services industry topping the list.

MRP software for small manufacturers MRPeasy analyzed the most recent U.S. Bureau of Labor Statistics on the change in job openings across industries, seasonally adjusted for September 2024 and October 2024.

The data reveals that as of October 2024, the total number of job openings in all industries across the U.S. is 7.7 million, which is an 11% decrease from the 8.7 million job openings in October 2023.

Job Openings by Industry

Rank      Industry   

  Job openings (September 2024)

 

Job openings (October 2024)

 

Change in job openings

1. Professional and business services 1,441,000 1,650,000 +209,000
2. Leisure and Hospitality 986,000 1,115,000 +129,000
3. Information 121,000 208,000 +87,000
4. Financial activities 429,000 446,000 +17,000
5. Private education and health services 1,473,000 1,481,000 +8,000
6. Government 871,000 876,000 +5,000
7. Mining and logging 26,000 28,000 +2,000
8. Construction 258,000 249,000 -9,000
9. Manufacturing 478,000 465,000 -13,000
10. Trade, transportation and utilities 983,000 956,000 -27,000

The professional and business services industry has the highest increase in job openings between September 2024 and October 2024 at a significant 209,000. Common roles within this field include administrative assistants with an average salary of $53,496, accountants who earn $64,840, and lawyers with an average salary of $94,947.

The leisure and hospitality industry ranks second, with a total increase of 129,000 job openings. This figure comes from a net calculation: accommodation and food services added 162,000 openings, while arts, entertainment, and recreation saw a decrease of 33,000. Combined, these figures result in an overall increase of 129,000 job openings in the sector. Typical positions within this sector include event managers with an average salary of $64,051, servers who earn approximately $49,511 annually, and hotel managers whose average salary is $62,403.

Next is the information industry, with 87,000 more job openings since September 2024. Roles within this sector include information technology specialists with an average salary of $52,112, help desk analysts who earn approximately $54,399, and security systems engineers with an average salary of $110,231.

In fourth position is the financial activities industry, with an increase of 17,000 job openings. Of this, the finance and insurance sector has seen 6,000 more job vacancies and the real estate, rental, and leasing sector has seen 11,000. Typical positions in this industry include investment consultants with an average annual salary of $70,505, mortgage advisors who earn $70,671, and bank clerks with an average salary of $34,724.

The private education and health services industry follows in fifth place, with an 8,000 job opening increase. Roles within this sector include registered nurses with an average salary of $94,199, healthcare managers who earn approximately $89,777, and teachers who earn only $36,843 in this research sample.

The government is the next industry on the list, with 5,000 more job openings in October 2024 than in September 2024. Examples of jobs within this sector include federal investigators who are paid approximately $97,756 every year, social workers whose average salary is $66,789, and border patrol agents who earn around $44,177.

The mining and logging industry is seventh on the list with 2,000 more job openings, which is the last sector with an increase. On average, miners earn $97,376 and loggers earn $34,777.

In eighth place is the construction industry, with a decrease of 9,000 job openings. Jobs within this sector include construction laborers earning $40,603 on average, construction project managers with a salary of $93,989, and quantity surveyors who are paid approximately $93,707 each year.

The manufacturing industry ranks ninth, with a decrease of 13,000 job openings from September to October. The durable goods sector decreased by 4,000 job openings and the non-durable goods sector decreased by 8,000. Example positions within this industry include manufacturing engineers whose average salary is $87,489 and operations managers with an average salary of $75,575.

Completing the list is the trade, transportation, and utilities industry, with a 27,000 decrease in job openings. Typical roles within this field include electricians who earn approximately $63,588 each year, commercial drivers with an average salary of $81,424, and wholesale managers with a salary of $75,738.

Karl Heinrich Lauri, Managing Team Member at MRPeasy, adds,

“It’s important to be aware of the job market by industry to not only gain an insight into job trends but also in case you’re looking for a change in industry or a new endeavor in 2025.”

“Despite the number of job openings falling from October 2023, it is promising that they have increased by 4% since September 2024.”

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