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Expanding & Declining
Industries
Over the 2008 -
2018 decade, employment in Rhode Island
is projected to increase by nearly 40,000 jobs or 7.8 percent.
The most recent employment
projections have RI employment reaching 549,200 by 2018. Job gains are
anticipated in nearly all sectors of the economy with individual industries
within the sectors projected to grow and decline at different rates. While
total employment in the Manufacturing sector is expected to continue to
decline, near average growth is expected for a few industries within the
sector including Computer & Electronics, Chemical, Food and
Transportation Equipment manufacturing. In contrast, while employment in the
Information sector is expected to grow at an average rate,
Telecommunications, an industry within that sector, is expected to decline
by nearly eight percent.
Expanding
industry data can be used to segment the labor market, thereby identifying
employers that are more likely to be hiring. This type of market
segmentation is expected to facilitate job development because the job
seeker or counselor is able to focus his/her job search on the employers
that are in the faster growing industries.
We consider an
expanding industry to be one that is
growing at a faster rate than the rest of the economy.
Any
industry that is projected to grow by at least 8 percent and add a minimum
of one hundred jobs during the 2008-2018 projection period or any industry
that is projected to add a minimum of 100 jobs annually, regardless of the
growth rate, is classified as an “expanding industry.”
A
declining industry is considered to be any industry, with a minimum
employment level of 100, that is expected to show negative employment
levels, resulting in the loss of fifty jobs or more during the 2008-2018
projection period.
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Industries
Adding the Most Jobs
2008-2018 |
| Industry
Title |
Projected
Growth |
| Professional,
Scientific, & Technical Services |
6,332 |
| Educational
Services |
4,691 |
| Ambulatory
Health Care Services |
4,358 |
| Food
Services and Drinking Places |
3,193 |
| Hospitals |
3,113 |
| Social
Assistance |
2,978 |
| Nursing
& Residential Care Facilities |
2,876 |
| Administrative
& Support Services |
2,649 |
| Specialty
Trade Contractors |
1,557 |
| Management
of Companies & Enterprises |
1,201 |
| Internet
Service Providers, Web Search Portals, & Data Processing
Services |
1,156 |
| Credit
Intermediation & Related Activities |
941 |
| Wholesale
Electronic Markets & Agents & Brokers |
862 |
| Religious,
Grantmaking, Civic, Professional & Similar Organizations |
804 |
| General
Merchandise Stores |
681 |
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The
following tables show
Rhode Island's expanding and declining industries at the three-digit North
American Industry Classification System (NAICS) subsector level. It is
recommended that these tables be used in conjunction with the virtual
one-stop system, EmployRI. Counseling and placement professionals, as well
as job seekers and students, can use this information to identify individual
employers that may be adding jobs and the types of positions they may be
hiring. The declining industries table can be used to identify the types of
jobs that are being phased out, indicating the current skills of displaced
workers – a potential supply of trained labor. “EmployRI” is available
on the Department of Labor and Training website at: https://www.employri.org
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