Who hasn’t questioned themselves after handing over wads of cash to a plumber or mechanic? Instead of a useless degree, why didn’t I learn a trade? The vaporisation of white-collar jobs during the financial crisis spurred some to act, it seems. Data from almost half a million private sector companies compiled by Sageworks rank technical and trade schools as the fastest-growing sector in the US during the past 12 months.
Given that the official recession ended over a year ago, which other industries are having a great recovery? Looking at the top 10 by sales growth reveals an overarching theme: America’s citizens as well as its companies are run down and in need of an upgrade. The industries that aid these readjustments are the ones doing well. Including the trade schools, seven of the best-performing sectors are either helping people retrain or improve their health. Lower-cost ways of delivering healthcare, such as home service and outpatient centres, are booming.
People are learning new skills because the companies that may employ them are also upping their game. The eighth-fastest growing industry is data processing and internet hosting, as technology pervades ever deeper. Software publishing is ninth. It is also notable that credit intermediators feature highly, perhaps a sign that the consumer and commercial lending business is becoming healthier.