Biggest Industries by Employment in the US in 2020

1. Public Schools in the US

Employment number for 2020: 6,663,262

The Public Schools industry includes traditional elementary (kindergarten through fifth grade), middle (sixth or seventh through eighth grade) and high schools (ninth through 12th grade), as well as both charter and magnet schools. Due to operators' reliance on state and local government funding, industry revenue is directly affected by changes in tax revenue, which are affected by overall economic health. Government funding for primary and secondary education is estimated to grow at an annualized rate of 1.6% over the five years to 2020. As such, industry revenue is estimated to increase at an annualized rate of 2.6% to $804.4 billion,... Learn More

2. Hospitals in the US

Employment number for 2020: 5,062,611

Despite being a primary provider of healthcare in the United States, revenue for the Hospitals industry has declined over the five years to 2020, as hospitals across the United States have struggled with the COVID-19 (coronavirus) pandemic. As the coronavirus pandemic spread in early 2020, hospitals have been crucial in the treatment and control of the virus. However, due to the highly contagious nature of the virus, people have avoided hospitals for nonessential and nonemergency care. While hospitals have experienced an influx of patients with coronavirus, and are, in many cases, operating at capacity, high value patients are staying away.... Learn More

3. Fast Food Restaurants in the US

Employment number for 2020: 4,205,512

Over the five years to 2020, the Fast Food Restaurants industry has grappled with shifting consumer preferences and a saturated food service landscape that have kept prices low. The addition and popularity of fast-casual restaurants have also boded well for this industry as a whole, helping the industry maintain revenue growth before taking a hit in 2020. Nonetheless, intense internal and external competition has forced fast-food operators to emphasize low prices in a battle to attract consumers. This has been intensified by falling consumer sentiment, resulting from economic fallout following the COVID-19 (coronavirus) outbreak in 2020. Moreover, the mandatory shelter-in-place... Learn More

4. Office Staffing & Temp Agencies in the US

Employment number for 2020: 3,298,289

Over the five years to 2020, the Office Staffing and Temp Agencies industry has recorded growth due to a growing US labor market and overall economic improvements. However, the COVID-19 (coronavirus) pandemic has created unfavorable economic conditions in 2020. This has caused the industry and labor market to significantly decline over the year. Industry operators supply businesses with workers for predetermined periods of time to supplement their existing staff. Operators in the industry are considered legal employers of temp workers since they are responsible for payroll, although they do not directly supervise the employees at work sites.

During the current five-year... Learn More

5. Colleges & Universities in the US

Employment number for 2020: 2,956,479

The Colleges and Universities industry includes public and private nonprofit colleges and universities that offer academic courses and grant baccalaureate or graduate degrees. Over the five years to 2020, strengthened job markets and better employment prospects have hindered industry demand, causing high school graduates to enter the workforce and forgo postsecondary education. Nevertheless, growth in government funding and private donations have kept industry revenue afloat. Overall, industry revenue is estimated to grow marginally, increasing at an annualized rate of 2.6% to $528.4 billion over the five years to 2020, including an increase of 1.7% in 2020 alone.

According to Federal Student... Learn More

6. Single Location Full-Service Restaurants in the US

Employment number for 2020: 2,878,699

The Single Location Full-Service Restaurants industry experienced revenue declines over the five years to 2020. For most of the past five years, the growing domestic economy and rising consumer spending led to consistent increases in consumers spending money on food away from home. This increased full-service restaurant spending. The fine-dining segment performed particularly well over the past five years due to solid growth in the income levels of affluent consumers and an expanding corporate market. Conversely, restaurants at the lower end of the market struggled with low growth as consumers traded down to the innovative products served by a growing... Learn More

7. Professional Employer Organizations in the US

Employment number for 2020: 2,811,192

The Professional Employer Organizations industry comprises organizations that specialize in providing human resource management and administrative services through a coemployment relationship. Industry participants are responsible for all aspects of employee management, including hiring, payroll and benefits administration. These companies serve as the legal employers of their clients' employees, although the clients continue to manage their day-to-day operations. The industry has boded well during the first four years of the current period. However, during 2020, COVID-19 (coronavirus) caused disruption in the global financial markets leading to increased unemployment during 2020, leading to decreased demand for industry operators. Over the five years... Learn More

8. Supermarkets & Grocery Stores in the US

Employment number for 2020: 2,733,764

Revenue for the Supermarkets and Grocery Stores industry has grown over the five years to 2020, benefiting from a strengthening economy for most of the period. As per capita disposable income has increased, many consumers have shifted to premium, organic and all-natural brands, helping lift industry revenue. Conversely, inflationary food costs have caused many consumers to continue purchasing private label brands over the past five years. While a shift toward more generic goods curbs revenue growth, it helps operators maintain profit, as store brands are less costly to produce than national brands. Overall, industry revenue has grown an annualized 1.2%... Learn More

9. The Retail Market for Shoes

Employment number for 2020: 2,570,533

Increasing per capita disposable income and e-commerce sales have spurred growth for the Retail Market for Shoes over the five years to 2019. Industry operators span a diverse range of retail channels, selling men's, women's, children's and athletic footwear and accessories. The rising price of industry products, coupled with increasing sales volumes, has driven revenue growth during the five-year period. Furthermore, the industry has benefited from a rise in the popularity of products spanning a wide range of price points. To a certain degree, shoes are relatively inelastic because some shoes are necessary; however, the majority of industry products are... Learn More

10. Burger Restaurants

Employment number for 2020: 2,228,140

The Burger Restaurants industry has relished growth in the domestic economy over the five years to 2019 as the unemployment rate fell to record lows and per capita disposable income increased, providing consumers will more money to eat away from home. Although the industry experienced increased competition from the broader food service market, burger restaurants still represent the largest segment of the market, especially among limited-service restaurants. Therefore, industry revenue is anticipated to increase at an annualized rate of 2.6% to $129.4 billion in 2019. A large percentage of this growth was during the first half of the period as... Learn More