Biggest Industries by Employment in the US in 2021

1. Public Schools in the US

Employment number for 2021: 6,670,942

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 2.2% over the five years to 2020. As such, industry revenue is estimated to increase at an annualized rate of 2.7% to $802.8 billion... Learn More

2. Hospitals in the US

Employment number for 2021: 5,021,662

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 2021: 4,334,326

Over the five years to 2020, the Fast Food Restaurants industry has grappled with shifting consumer preferences and a saturated food service landscape that has 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 2021: 3,307,096

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 2021: 3,154,855

The Colleges and Universities industry includes public and private nonprofit colleges and universities that offer academic courses and grant baccalaureate or graduate degrees. For most of the past five years, strengthened job markets and better employment prospects hindered industry demand, causing high school graduates to enter the workforce and forgo postsecondary education. However, this trend has reversed since the COVID-19 (coronavirus) struck, bolstering industry demand. Moreover, growth in government funding and private donations have further supported the industry revenue during the same period. Overall, industry revenue is estimated to grow at an annualized rate of 4.5% to $578.4 billion over... Learn More

6. Single Location Full-Service Restaurants in the US

Employment number for 2021: 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 2021: 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 2021: 2,625,198

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 is expected to grow an... Learn More

9. The Retail Market for Shoes

Employment number for 2021: 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. IT Consulting in the US

Employment number for 2021: 2,243,823

The IT Consulting industry comprises companies that help businesses design and implement information technology (IT) systems and infrastructure. Due to the low capital requirements of this industry, a modest number of operators are small nonemployers or independent contractors. Over the five years to 2020, shifting technological trends toward cloud computing and data analytics have caused larger operators to acquire smaller companies and develop new products to stay relevant. For example, Accenture PLC (Accenture) completed its acquisition of Orbium, a technology consultancy for financial services providers, in February 2019. Similarly, International Business Machines Corp. (IBM) completed its largest acquisition in company... Learn More