While the worst of the financial crisis may be well behind us, some industries will continue to struggle over the next decade. This may be attributed, in part, to the fact that some industries have not managed to comeback and have stayed on a downward transition. In addition, consumer habits in America have changed dramatically over the past years, making it harder and harder for some industries to keep up. One final element that contributed to the decline of these industries is represented by technological advancements which mean that numerous manual jobs and processes have been replaced by automated procedures.
We would like to present you with a list we have compiled of the top industries in America that will decline over the course of the following decade. The figures used in ranking the industries were taken from the statistics released by the US Labor Bureau. Let’s take a look at the countdown.
No. 10: Miscellaneous Manufacturing
No. of jobs in 2010: 266,000
No. of jobs in 2020: 210,300
Annual job decline (%): 2.3
This particular industry refers to a wide variety of products whose manufacturing will steadily decrease in the US in part due to the growth of this sector in China. Some examples include: jewelry, medical equipment, toys, office supplies, sporting goods, and signs.
No. 9: Federal Government Jobs
No. of jobs in 2010: 76,600
No. of jobs in 2020: 60,200
Annual job decline (%): 2.4
With the exception of Postal Service (which are listed further down on this countdown) and electric utilities workers, all federal government jobs will decline by approximately 2.4% per year over the next ten years.
No. 8: Agricultural Chemical Manufacturing
No. of jobs in 2010: 35,300
No. of jobs in 2020: 27,500
Annual job decline (%): 2.5
As a result of stricter environmental policies and the advances in technology, numerous workers in the field of agricultural chemical manufacturing will lose their jobs over the course of the following decade.
No. 7: Metal Ore Mining
No. of jobs in 2010: 36,400
No. of jobs in 2020: 28, 100
Annual job decline (%): 2.5
Due to the depletion of local mines and the increasingly stricter environmental regulations, numerous workers from the metal ore mining field are expected to lose their jobs.
No. 6: Pipeline Transportation
No. of jobs in 2010: 42,400
No. of jobs in 2020: 32,600
Annual job decline (%): 2.6
There will be approximately 10,000 less jobs in the pipeline transportation field by the year 2020. However, the situation might be less dramatic in the event that the construction of the Keystone Pipeline will be cleared by then.
No. 5: Computer Equipment Manufacturing
No. of jobs in 2010: 161,600
No. of jobs in 2020: 117,500
Annual job decline (%): 3. 1
Even though demand for computers and IT-related equipment is on the rise, globalization has made other markets more attractive in terms of manufacturing – in particular, Asia.
No. 4: Communications Equipment Manufacturing
No. of jobs in 2010: 118,000
No. of jobs in 2020: 85,700
Annual job decline (%): 3. 1
The reason for this industry’s decline is that manufacturing processes are cheaper outside the USA.
No. 3: Postal Service
No. of jobs in 2010: 656,400
No. of jobs in 2020: 474,600
Annual job decline (%): 3.2
Due to its increasing losses, the Postal Service has already announced that it will be reducing approximately 150,000 jobs by the year 2016. This declining trend is presumed to continue even afterwards.
No. 2: Leather & Allied Product Manufacturing
No. of jobs in 2010: 27,800
No. of jobs in 2020: 12,700
Annual job decline (%): 7.6
As demand from footwear, furniture, or auto manufacturers has steadily decline, so have the revenues of the leather industry. This may be attributed to the fact that consumers are now shifting their attention towards cheaper alternatives for leather, such as plastic or vinyl.
No. 1: Apparel Knitting Mills
No. of jobs in 2010: 157,700
No. of jobs in 2020: 66, 100
Annual job decline (%): 8.3
This industry was already declining at the end of the previous decade and it will continue its downward spiral in the years to come.
