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: 5,734,793

As a primary provider of healthcare in the United States, the Hospitals industry is expected to grow an annualized 2.8% to $1.2 trillion over the five years to 2020, with an expected increase of 1.6% in 2020 alone. This traditionally fragmented industry has recently begun consolidating, largely due to the pressures of healthcare reform. Demand for industry services has steadily grown over the past five years, as healthcare reform legislation broadened insurance coverage and the sinking unemployment rate increased disposable income.

To maintain an advantaged position in this competitive industry, hospitals seek the most skilled and specialized healthcare professionals, thereby increasing... Learn More

3. Fast Food Restaurants in the US

Employment number for 2020: 4,830,011

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. However, compared with other operators in the accommodations sector, fast food restaurants have still performed well over the past five years due to the relatively low prices and convenience they offer. The addition and popularity of fast-casual restaurants has also boded well for this industry as a whole, helping the industry maintain revenue growth despite declining profitability. Nonetheless, intense internal and external competition has forced fast-food operators to emphasize low prices in... 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. Professional Employer Organizations in the US

Employment number for 2020: 3,212,629

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. Over the five years to 2020, industry revenue has increased at an annualized rate of 5.2% to $206.2 billion, including estimated growth of 1.8% in 2020 alone.

Over the past five years, demand for professional employer organizations (PEOs) has increased dramatically as overall economic... Learn More

6. Single Location Full-Service Restaurants in the US

Employment number for 2020: 3,066,420

The Single Location Full-Service Restaurants industry has experienced modest growth over the five years to 2020. Since 2015, the growing domestic economy and rising consumer spending have led to consistent increases in consumers spending money on food away from home. This has increased full-service restaurant spending. The fine dining segment has done 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 have struggled with low growth as consumers have traded down to the innovative products served by... Learn More

7. 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

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. Chain Restaurants in the US

Employment number for 2020: 2,548,013

The Chain Restaurants industry has experienced steady growth over the five years to 2020. As per capita disposable income increased and unemployment declined, consumers increased their spending, giving rise to greater spending on meals eaten away from home, including sit-down meals. The industry has experienced increasing levels of competition and growing input costs, such as labor. Consequently, the average industry profit margin has decreased slightly over the five years to 2020, despite continued revenue growth. Industry revenue has grown as industry operators increasingly benefited from economies of scale. Over the five years to 2020, industry revenue is expected to increase... Learn More