2022 was another game-changing year for the employment market, as Covid-era shakeups continued to ripple through all industries. Arguments rage on about whether we are heading into a recession, if we are already in one, and even what the definition should be anymore.
What any of this means for job-seekers varies wildly with whoever you ask.
It can be just as complicated to name the best industries to work in for 2023. What makes them the top/best? Is it pay? Growth? Enjoyment of work?
We looked into many Best industry lists for 2023, and based our picks on:
- Job growth
- Potential compensation
- Job seekers’ desire to work in it
- Overall health of the industry
With this in mind, here are our Top 5 Industries for Job Seekers in 2023.
Healthcare
Healthcare is one of the five biggest industries in the U.S., by employment. We don’t have any reason to think this will change, given our aging population. At the same time, few industries are feeling the pain of the ongoing skills shortage more than this one.
On the plus side, this means better pay and growth opportunities for 2023. The downside is the hours can be long, as you're making up for gaps in staffing. Unlike a restaurant, a hospital can’t close a night when they don't have enough people.
Hospitality
It’s hard to imagine an industry hit worse in 2020 than Hospitality. In one of the great comeback stories, it’s not only bounced back, but is one of the top industries for wage/salary growth.
The industry has weathered this surge in demand with a lack of good people. This has made them more open to job candidates with no experience in the field. Plus, the sector has a range of positions outside the service workers we see on the front lines (management, advertising, sales, etc.).
Information Technology
The explosion in demand for cloud services, data analysis, artificial intelligence, and other related technologies has further heated up what was already a hot sector. The challenge the industry faces is the professional education/training required for key positions keeps the number of potential job applicants too low.
This is great news for the software engineers, support staff, and other educated professionals critical to this work. It will keep their salaries climbing, and competition for advancement lower than it would otherwise be.
Construction
Lack of housing options has plagued the real estate market for years now. This, along with redevelopment in major city centers, has created an uptick in construction projects. Too bad they don’t have the people to get the work done.
The lack of skilled trades workers has been discussed for years, and the consequences are holding back what is an otherwise thriving sector. According to a recent report, 3 out of 10 current skilled trades workers will retire by 2026.
Once again, this is a boon to most entering the field. Carpenters, electricians, plumbers, welders, etc. will be able to demand top dollar for their work, with numerous leadership opportunities opening.
Finance
Employment for financial analysts is projected to grow 9 percent by 2031, faster than the average for all other U.S. occupations. That’s just one aspect of the Finance field, but should give you an idea of what to expect for the whole thing.
Finance requires professionals with a specific skill set, and a level of education beyond the average American. Because of this, those who make the grade will continue to find it a profitable career path beyond the 2020s.
These are not, by any means, the only great industries going into the new year. The ongoing worker shortage should open doors across the board. If you focus on finding work you can excel in, there will be a solid career path, or two, waiting for you.
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