Unlike most media reports, there are many growing industries, but it is true that jobs for unskilled workers are shrinking; it doesn’t just happen in the United States, it also happens everywhere else.
On the positive side, there are many industries that are developing due to the sharp increase in exports; new demands and changes in our way of life; here are some niche sectors we discovered:
1. Fashion industry
The fashion industry is going through a good period, more and more American brands are now recognized worldwide, the success of brands like Forever 21 has allowed many American fashion companies to export. In general, foreign consumers are very fond of American fashion, which has helped many American companies to develop in offshore markets.
The successful expansion of American retailers such as Target, Wal-Mart, Sears and Costco has also helped raise awareness of American fashion brands in new markets. The increase in consumer spending, particularly from Asia, has helped many American businesses while their domestic revenues have slowed.
So take a look at some of the American fashion companies, and if you have international merchandising or marketing experience, this might be for you.
2. Language teachers
It is a two-way growth. First, an increasing number of Americans are learning the 2nd language because they see it as an asset for their careers, popular languages include Chinese, Spanish, Russian and Arabic. Learning a second language can really open up huge opportunities for you; and if you already master another language, now is a good time to use it and make it a business.
The second growth comes from learning English in Asia, a growing number of middle-class families also means an increasing number of students enrolling in English lessons. There is a huge demand for English teachers in China, Taiwan, Korea, and Japan. In many cities, parents must apply years in advance to enroll their children in kindergartens in English only; it is a great career opportunity if you are interested in finding career experience abroad.
3. Components and accessories for electric cars
Auto sales have picked up in North America and are growing rapidly outside the United States. GM and Ford both reported record revenues in China and India; reflecting the high demand for American vehicles abroad.
A good way to enter this sector is to work with automotive components or accessory companies, as new technologies such as new car batteries, new engine converters or new car windows have increased to an even faster than car sales.
The same analogy was raised by another economist last year when it came to mobile phones – the companies that derive the most benefit from mobile phones are not the phone companies but for companies like Texas Instruments that make chips and components for mobile phones.
4. Asian tech companies in the United States
A number of announcements have been made by Asian companies to expand their operations in the United States. In the past, these were mainly Japanese companies; Nowadays, there are many more choices, these companies are strengthening their presence in North America and need local employees with local knowledge.
Some good names include Asus, HTC, Samsung, Lenovo, Acer, Samsung, LG or Sony Ericsson. Companies like Asus and HTC have grown successfully in recent years.
There are also various openings with large car manufacturers like Nissan, Honda, Kia or Toyota who wish to increase their market share in North America.
5. Canadian businesses
Right across the border, Canadian businesses are growing in the United States. For Canadian companies, the United States is still the number one international destination.
One way to find growing Canadian companies is to consult the largest companies listed on the Toronto Stock Exchange. As mentioned earlier, Canadian banks have grown in the United States; some now have more branches in the United States than in Canada. Other good examples are solar companies, water treatment companies, environmental companies or IT companies.
Canada also faces a skills shortage, one of the main reasons being the loss of talent for American businesses. Some Canadian provinces now offer more opportunities for people to work in Canada, and the American experience was highlighted as a preference.
So if you’re looking for a change, maybe you can travel north and find new opportunities.
Other articles will be published to cover faster-growing industries and businesses in the United States.