PRESS RELEASE
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2008 Hot Job List -
The Top 10
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As College Graduates
Pursue Their Careers, IBISWorld, Inc., Reveals The Top
10 Industries Offering Fast Growing Employment and Wage
Opportunities
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LOS ANGELES, April 1,
2008 /PRNewswire/ -- College graduates beginning their
careers this spring will find the job market offering a
range of unique and highly-rewarding employment
opportunities, according to industry research firm
IBISWorld, Inc. (http://www.ibisworld.com/). As one of
the nation's most respected independent publishers of
business intelligence research reports, IBISWorld today
announced its top 10 industry picks offering the fastest
growing number of jobs and growth in wages. But to find
these jobs, graduates will need to do their research.
"Rather than targeting the traditionally popular or
"sexy" industries, jobseekers should investigate the
industries forecast for strong employment growth, and
get ahead of the pack by targeting companies in those
sectors now," said George Van Horn, a senior analyst
with IBISWorld. "Research really is the key. Last year's
top performing industries could be next year's slow
movers, so knowledge is certainly power in today's
fiercely competitive and ever changing job market. We
believe there are 10 stand-out industries that every
graduate should investigate this year with VoIP on top
of the list."
VoIP To Create Jobs In 2008
The industry leading the way in terms of employment
growth over the next few years will be Voice Over
Internet Protocol providers (VoIP), according to
IBISWorld, with average annualized jobs growth of around
19.4 percent through 2012.
"This is the result of significant revenue growth
forecast for the same period, driving more organizations
to enter the industry, which in turn will boost
employment. And as an emerging telecommunications
service," said Mr. Van Horn. "There still is a
reasonable way for the sector to go as it gains greater
consumer and business acceptance. The outlook is good as
household broad-band penetration is still rising,
facilitating greater use of digital services and helping
improve the call quality of industry services."
Fashion Design Services Offer Opportunities For
Creative-Minded Graduates
Second on the 2008 hot jobs list is fashion design
services. According to IBISWorld, opportunities for
independent designers are expanding in response to the
globalization of the fashion industry, as well as
technological advancements in the industry.
"The ongoing trend of outsourcing discrete segments, or
even total design contracts, to independent designers is
boosting employment within what is typically a tough
industry for jobs creation," said Mr Van Horn. He added,
"Trailing the VoIP sector with employment growth
predicted at 5.3 percent in 2008, the industry will
still provide job growth far beyond many other segments
despite difficult economic conditions."
Bridge and Tunnel Construction Industry Jobs To Grow
Five Percent
Third in line is bridge and tunnel construction with
employment growth estimated at five percent in 2008, as
a result of overall industry revenue climbing seven
percent to $23 billion this year, and by an anticipated
8.7 percent next year. As a result, industry employment
will rise at least five percent in 2008 on the back of
solid cyclical growth in the value of publicly funded
bridge construction as the nation begins to repair and
replace the countries aging infrastructure, not to
mention new infrastructure to keep pace with traffic and
rail demands around cities from coast-to-coast.
Physical Therapy Trending Up To Care For An Aging
Population
Those seeking a stable career, in a potentially
lucrative industry, should think about physical therapy,
a career path which incorporates the fields of physical,
occupational, and speech therapy. Mr. Van Horn said
Physical Therapy will drive job growth for years to come
as aging Baby Boomers, as well as high school, college,
and professional athletes often require extended periods
of therapy to recover from painful injuries.
"The Bureau of Labor Statistics claims jobs in these
professions are set to increase at a much faster rate
than the average for other occupations," advised Mr Van
Horn. He added, "IBISWorld predicts that significant
growth in demand for these occupations estimated to be
about 4.9 percent could well result in labor shortages
over the next five years, which may negatively impact
the sector's revenue growth by driving up wage costs."
IBISWorld 2008 Adds Interior Designer Positions To Its
Hot Job List
"Employment in the interior design arena is growing with
interior designers experiencing strong demand as
American households and small businesses are driving a
relatively new, but growing market," said Mr Van Horn.
He added, "As a result, we see an annualized employment
growth rate for this sector in the range of 4.5 percent
now through 2012. "Much of this growth will come from
the hospitality sector, with designers being employed to
remain competitive by redesigning and decorating hotels
and restaurants.
This trend can best be seen in Las Vegas where the
casinos and hotels are constantly expanding and
reinventing their properties to keep visitors coming
back year-after-year. On the commercial side of the
industry, corporate clients are seeking to rejuvenate
their office spaces, retail stores, and leisure
facilities. Growth will also come from those looking to
complete construction using environmentally friendly
materials and designers promoting these services will
reap rewards.
Home Offices Offers Savings For Employers and Employees
Alike
Other trends promoting growth in employment include the
popularity of home offices, the move towards larger
bathrooms incorporating luxury items such as saunas,
exercise areas and media equipment, and technological
advances such as home networking and other systems to
support modern living.
Interior designs to accommodate an aging population will
also be a source of growth for the industry with homes
being built with stair lifts, elevators and wider
doorways -- all using low maintenance materials.
Growth in Retirement Communities To Create Jobs
Looking ahead, IBISWorld also puts retirement
communities near the top of the employment growth list
for the years through 2013. The major driver behind this
growth will be our aging population hiking up demand for
medical services and assisted living or senior care
facilities, including accommodation for the aged
(particularly those aged 75 and older), and other health
care services.
"Therefore, those whose employment involves caring for
the elderly are unlikely to be out of a job over the
next few years," said Mr Van Horn. "This segment will
generate increased employment by 4.5 percent to service
an ever increasing number of the aged, the U.S.' fastest
growing population segment."
Mr. Van Horn added, "Over the next four years the number
of people over 75 is projected to grow by 4.7 percent,
compared to 4.4 percent for the population overall. At
the same time, the average age of the elderly will rise,
adding nine million people to this age bracket, up 15.8
percent through the year 2012.
Ambulance Services and Ambulatory Health Care Services
"The ambulance services industry is employing greater
volumes of staff to meet the increasing demand for their
services driven by changes in the delivery of health
care, an aging population, and people insisting upon a
heightened level of emergency response," said Mr. Van
Horn.
"The result will be employment growth in the range of
four percent, he added. "Other ambulatory health care
services will also experience good employment growth of
about 3.9 percent in 2008 and in the years ahead."
IT Support, CRM and Business Process Services
"While growth in the IT support, CRM, and the business
process services sector will not attain the dizzy
heights of the past decade, employment growth is still
expected to remain solid at around four percent a year,"
said, Mr Van Horn. "The outsourcing of jobs to Asia is a
primary factor in the slower employment growth rate for
this industry." He added, "The result will be higher
wages for local staff remaining in the industry as they
were likely to be more highly-qualified and skilled."
Open-End Investment Funds
Last in IBISWorld's list of "top 10 industries for
employment growth" is expansion in the number of
open-end investment funds with a growth rate of 3.9
percent expected in 2008 following consistent returns
over the past four years. This is a result of an
increase in mutual funds, as well as additional
enterprises within the field in recent years. IBISWorld
believes any growth in mutual funds will be driven by
"alpha" type funds which attempt to outperform
traditional indices.
Show Us The Money
For graduates who will be choosing careers based on
salary, Mr Van Horn said that Voice Over Internet
Protocol Providers (VoIP) would easily outpace all other
industries with average annualized growth in wages set
to hit 21.8 percent -- an impressive 16 percent ahead of
its nearest competitors which includes technical and
trade schools, test development, educational support
services, and live music, production of special events
and sports entertainment promotions -- all with 5.7
percent growth in wages in coming years. The average
annual wage for full-time employees in the US is
currently $44,148, with IBISWorld earmarking growth of
about 2.5 percent a year for the next five years.
Fashion Design Services, Social Advocacy Organizations,
And Laboratory Testing Services
Other industries with wages growth likely to exceed five
percent in coming years include: fashion design services
(5.6 percent), social advocacy organizations (5.1
percent), and laboratory testing services (5 percent).
Other Sectors Present Hot Opportunities
As diverse as they are, jobs in search engines, racing
and other spectator sports such as golf and boxing,
together with lingerie, swimwear, uniform and bridal
stores, round out IBISWorld's wages growth top 10 -- all
with a respectable 4.9 percent annualized growth rate.
Increasing professionalism in sports, and an expansion
in TV and other media sports programming are fuelling
growth in wages as well, with rising player contracts
driving up wages not just for the athletes themselves,
but for every employee involved in the broader industry.
For example, while positions for professional athletes
are limited, individuals involved in promoting, managing
and umpiring our talented sports stars are enjoying
strong wages growth, particularly coaches, managers, and
sports marketers.
About IBISWorld
Founded in 1972, IBISWorld provides a unique and
extensive online portfolio of business research and
analysis products designed to serve a range of business,
professional service and government organizations.
Delivered through enterprise subscriptions, the company
publishes in-depth reports on more than 700 industries
and offers profiles on more than 8,000 U.S. companies.
In addition, the company provides databases of economic
analysis, demographic data, and risk assessment reports
relevant to virtually every business sector. IBISWorld's
materials are valued for the breadth and depth of the
research and analysis covering the entire U.S. economy,
incorporating both financial and non-financial
information impacting tracked industries and companies.
IBISWorld Business Information is well known for its
accuracy, consistency and timeliness. This is why almost
all online information aggregators seek us out to
include our reports as part of their global databases.
Current IBISWorld partners include Hoovers, Valuation
Resources, Superfactory and American Small Business
Development Centers. With U.S. headquarters located in
Los Angeles, IBISWorld has offices in New York,
Melbourne, and Sydney. For more information, visit
http://www.ibisworld.com/ or call 1-800-330-3772.
Source: IBISWorld, Inc.
CONTACT: Harvey Jones, Senior Vice President of
IBISWorld, Inc., +1-310-866-5029, Fax, +1-310-496-1596,
harveyj@ibisworld.com; or Todd E. Appleman,
President of The Appleman Group, +1-323-850-7664, Fax,
+1-323-850-7663, Cell, +1-213-447-7662,
tappleman@tag-pr.com, for IBISWorld, Inc.
Web site:
http://www.ibisworld.com/
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