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Five Industries Benefiting from a Growing Female Workforce

According to the latest available data from the Bureau of Labor Statistics (BLS), women accounted for 46.8% of total employed individuals in 2016, nearly half of the workforce. Furthermore, women are outpacing their male peers in both enrollment and educational attainment. In 1980, the education gap between men and women was 7.0%; by 2015, that figure became statistically insignificant. Additionally, according to the Survey of Business Owners conducted by the US Census, female-owned businesses generated an estimated $1.4 trillion in 2012, representing an 18.7% increase from 2007. For women looking to level the playing field, these developments are promising, but still do not amount to equal pay. Using IBISWorld’s database of more than 700 industry reports and the latest available BLS employment statistics, here are five industries experiencing robust growth in female labor participation.

Software Publishing

Five-year revenue growth: 3.0%
Five-year employment growth: 3.0%
Five-year female employment growth: 9.7%
Average wage: $149,004.70

The Software Publishing industry is expanding robustly as more businesses, particularly startups, demand innovative computer software products to run their operations smoothly. Over the five years to 2017, private investment in computers and software increased an annualized 4.2%, resulting in greater investments in new software. In addition, the proliferation of smartphones, tablets and online mobile connections fueled industry growth. As the number of mobile internet connections rises, demand for mobile software applications is similarly anticipated to increase. Consequently, revenue for the Software Publishing industry is estimated to have increased at an annualized rate of 3.0% over the five years to 2017.

Despite the tech sector’s historical reputation as a male-dominated environment, women have increasingly gained technical degrees in the past five years and have increasingly gained employment in tech industries. Consequently, in 2016, BLS data stated that women accounted for 30.5% of the Software Publishing industry. As employment in this industry rises, the number of female workers is anticipated to follow suit.

Internet Publishing and Broadcasting

Five-year revenue growth: 15.4%
Five-year employment growth: 12.4%
Five-year female employment growth: 15.6%
Average wage: $41,491.57

Similar to the Software Publishing industry, the Internet Publishing and Broadcasting industry is historically male-dominated. Now, the latest BLS data reports women account for 35.0% of total industry employees. These industries includes social media editors (SEOs), web content creators and other web publishing occupations.

However, the share of female employees rose sharply during the five-year period, albeit in line with the industry’s overall growth. The increasing number of household broadband connections and mobile internet connections have led to significant industry expansion. Furthermore, as advertising expenditure increases, the number of investments in online advertising rises, further bolstering revenue. As the industry continues to expand in the future, operators will need to hire more employees. Over the five years to 2017, employment in the Internet Publishing and Broadcasting industry is estimated grow an annualized 12.4%. In response to overall employment growth, the number of female employees in this industry is forecast to increase 15.6% over the five years to 2017.

IT Consulting Services

Five-year revenue growth: 1.4%
Five-year employment growth: 3.0%
Five-year female employment growth: 8.0%
Average wage: $83,818.25

Shifting technological trends toward cloud computing and data analytics boosted demand for new services and encouraged businesses to enlist assistance from the IT Consulting Services industry. Furthermore, strong corporate profit for most of the five-year period drove businesses to invest in their computers and software, bolstering revenue for industry operators. Overall, industry revenue is projected to have increased at an annualized rate of 1.4% over the five years to 2017.

As compared with overall employment growth, there has been a marked increase in female employees in the IT Consulting Services industry. Despite women only accounting for 26.1% of total employees in 2016, the number of female employees in the industry anticipated to grow at a staggering annualized rate of 8.0% over the five years to 2017. This represents a marked shift in the direction of industry employment demographics.

Real Estate Loans & Collateralized Debt

Five-year revenue growth: -2.4%
Five-year employment growth: 2.0%
Five-year female employment growth: 5.0%
Average wage: $78,785.17

In 2016, females accounted for 49.8% of total employees in the Real Estate Loans and Collateralized Debt  industry, according to the BLS. Operators in this industry specialize in nondepository lending services, and generate revenue by securitizing and selling mortgages and other loans on secondary markets.

According to Oliver Wyman’s 2016 report “Women in Financial Services,” female representation at the executive level is set to hit 30.0% in 2048. Though there is a lack of female participation at the executive level, research by McKinsey and Company indicates that companies with a larger proportion of women in senior roles perform better than those with less female representation. Over the five years to 2017, employment in the Real Estate Loans and Collateralized Debt is expected to rise an annualized 2.0%. In response to overall employment growth, the number of female employees in this industry is forecast to increase at an annualized rate of 5.0% during the same period.

Veterinary Services

Five-year revenue growth: 3.4%
Five-year employment growth: 2.1%
Five-year female employment growth: 5.1%
Average wage:$35,749.17

According to the American Veterinary Medical Association (AVMA), females held 56.6% of total US veterinarian positions in 2016. Specifically, the AVMA report indicated that female veterinarians dominated companion animal-exclusive clinical practices. In total, females accounted for 61.2% of total private practice positions in the companion animal-exclusive category, which represents 65.5% of total private practices.

Equally promising, the Survey of Business Owners conducted by the Census shows that women owned 36.8% of total operations in 2012, up from 28.3% in 2007. As a result, while overall employment in the Veterinary Services industry is anticipated to rise an annualized 2.1%, female employment is forecast to rise at an annualized rate of 5.1% during the same period. IBISWorld forecasts industry revenue to rise an estimated annualized 3.4% to $38.8 billion over the five years to 2017.

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