According to the US Bureau of Economic Analysis, just 15 of the country’s 22 economic groups contributed to an increase in GDP in the fourth quarter of 2022.
So, if you want to hitch yourself to a star in your future career, aiming your ambitions toward these top industries is a good start for focusing your efforts.
Check out this list of the most profitable types of industries to help guide your efforts.
1. Wholesale Trade
The wholesale trade dominates the list of different industries that most impact the US economy. The wholesale industry affects a wide range of additional industries, such as transport, agriculture, manufacturing, utilities, and more.
For example, a wholesaler could sell mechanical parts to manufacturers, farmers, or utility companies, or raw materials to the food industry.
Jobs in wholesale include everything from unskilled labor to executive management positions. The PSA, LPD, SFMECA, and RCM training linked here can help you advance across these work portfolios.
2. Manufacturing Industry
The primary business activity of manufacturers is to create goods for use with the help of tools, chemical processes, labor, machines, and other equipment, especially if you need sanitary gaskets to adhere to specific hygiene standards.
The manufacturing industry serves broad sectors like industrial design, high-tech goods, automobiles, healthcare, and food.
It transforms items from the wholesale industry into finished goods on a large scale.
3. Retail Trade
This is one of the most widespread industry classifications, as it occupies the final step in the distribution of merchandise. It refers to selling goods at a profit to the public without altering the original much.
There are two main types of retailers:
These retailers operate fixed point-of-sale locations designed to attract a high volume of customers. They typically sell merchandise for household or personal consumption.
Some may also provide after-sales installation and repairs.
Non-store retailers also serve the public, but they don’t have large retail outlets. These operators use direct-response catalogs, digital marketing, and word-of-mouth advertising to promote their businesses.
They may deliver their goods or offer them for sale via temporary premises, like stalls.
4. Finance Sector
The finance industry occupies the top spot in the business world. This sector manages the money and investments that keep the economy stable and productive.
It impacts the banking sector and includes things like:
- Real estate investment trusts
- Health and welfare funds
- Insurance investment funds
Without a stable and effective finance industry, it’s difficult for other industries in the US to thrive and grow.
5. Healthcare and All Its Facets
The healthcare industry includes services performed by health workers, physical assets like hospitals, and pharmaceuticals used to promote human health.
Some jobs that fall under the healthcare industry include:
- Hospital administrators
- Pharmaceutical manufacturers
- Pharmaceutical salespeople
Other industries like manufacturing, wholesale, and finance may also impact the healthcare sector.
Putting This List of Types of Industries to Work
Taking this list of types of industries into account when deciding on your future studies can help you determine paths for advancement based on an entry-level position.
By equipping yourself with a qualification that applies to these major industries, you’ll never find yourself short of work opportunities.
Would you like to discover more options for maximizing your career? Browse our website for all the best work tips.