By Amber Hoover, CPA/ABV
Senior Analyst, Valuation and Litigation Services
Want to know where the employment market is heading? Know a new or upcoming college graduate and want to give them some useful career advice for now and down the road?
IBISWorld, a global business intelligence leader specializing in industry market research and procurement and purchasing research reports, has assembled a list of industries showing strong employment growth in 2017. And they also have put together a rundown of the top five distressed industries.
Below are the industries that IBIS has identified with the greatest capacity to hire the largest share of new college graduates:
| Industry | 2017 Employment Growth Rate | 2017
Wage growth rate |
College Majors | 2017 average industry wage | |
| Internet Publishing & Broadcasting | 10.3% | 10.9% | Computer Engineering, Computer Science, Communications | $82,069 | |
| Geophysical Services | 7.7% | 9.4% | Geology, Environmental Engineering | $58,569 | |
| Elderly & Disabled Services | 7.3% | 5.9% | Nursing, Hospitality | $19,338 | |
| Financial Planning & Advice | 6.0% | 6.9% | Accounting, Financial Mathematics, Economics | $82,180 | |
| Language Instruction | 6.0% | 6.7% | Humanities, Communications, Education | $18,804 | |
IBISWorld has listed the following industries as distressed, measured by the quickest expected industry value added (IVA),which measures the industry’s contribution to the U.S. economy, curated using IBISWorld’s proprietary database, declines between 2012 and 2017.
DVD, Game and Video Rental
- Projected annualized IVA decline: (15.8%)
- Attributing factor: increase reliance on digital outlets such as Netflix, Hulu, Amazon and Comcast.
Gold & Silver Ore Mining
- Projected annualized IVA decline: (16.5%)
- Attributing factor: financial markets have rebounded over the past five years; therefore, investors have decreased their need to buy assets such as gold and silver.
Cotton Farming
- Projected annualized IVA decline: (12.5%)
- Attributing factors: unfavorable exchange rates and overseas competition.
Camera Stores
- Projected annualized IVA decline: (7.9%)
- Attributing factor: competition from online retailers, department stores and consumer electronic stores.
Database & Directory Publishing
- Projected annualized IVA decline: (10%)
- Attributing factor: competition from online search engines such as Google.
If you have any questions, please call Amber Hoover at (317) 613-7844 or email [email protected].