Industry has always been a critical component of the US economy. The ebb and flow of how industry develops changes and evolves constantly, but the overall outcome tends to remain the same. As one industry subsides, another industry tends to grow and take its place.
The US Industry Facts
Industries that have been connected to the design of computer systems have seen double-digit growth in the United States since 2010.
Even industries that are perceived in a negative way because of the 2008-2009 recession are strong contributors to the US economy. The real estate sector, for example, is on the list of the 10 fastest growing industries in the country for the second year in a row right now – after the massive losses this industry took just 5 years ago!
Three Fast Facts About US Industry
1. Support activities for mining grew at the fastest rate in the US in the last 12 months – private companies experienced an average of 21% growth.
2. Four out of the top 5 fastest growing industries in the US experienced 20% growth as well.
3. Beverage manufacturing had higher growth rates than agriculture, chemical production, or even employment services.
Takeaway: The reason why US industry tends to ebb and flow a lot is that it is focused on priorities more than needs. Many subsectors are anticipating what the consumer is going to want and it ends up being an educated gamble. For these top sectors, the gamble has paid off big! For other sectors, the profits may not be as strong because their focused on the wrong priorities during the anticipatory process.
Other Facts to Consider About US Industry
1. Social networking that is based in the United States is expected to see an explosive 51% increase in employment opportunities in the next year.
2. Video games have always been a massive revenue generator and a 35% increase in jobs is likely to keep this part of the industry going strong, especially as broadband streaming speeds top 100mb/s.
3. E-commerce activity continues to grow massively, having an annualized growth rate of over 40% for the last decade.
4. US industry isn’t just about the organizations either – people can get involved in the 88% increases in e-book publishing that generate revenues as well.
5. Even paid fantasy sports websites have begun to crop up and realize gains as people look for entertainment options.
Takeaway: US industries often focus on raw materials, but where most of the growth happens to be for ground floor investment opportunities continues to be the internet. Mining support and agriculture will always be consistent winners, but they won’t see the massive gains that you can see above. As time moves on, this focus on technology will likely open up even new markets that are unimaginable at this very second, meaning that a decade from now, these subsectors could be on their way out the door.