Posting in Environment
Social networking giant studied the 'data exhaust' of 150 million-plus members who share information and insights about career changes.
LinkedIn, the social networking site for professionals, has been studying its massive membership base -- 150-million strong -- and has drawn up some interesting conclusions about where the growth is in today's economy.
By tracking people's jobs and job changes over the past four years, the social networking site was able to generate data on what industries were hottest, and which ones people were running away from. As LinkedIn's Scott Nicholson puts it, "it’s just a hint of what we can see by scouring the 'data exhaust' of 150 million-plus LinkedIn members who share information and insights with each other."
Nicholson's research team identified industry trends from 2007 through 2011 "by longitudinally following anyone in the US who has a position listed in 2007. We adopted this methodology to control for the incredible growth in our member base since people who join LinkedIn after 2007 still are likely to list a job they had in 2007. This provides us a sample size in the tens of millions."
Of course, there may be somewhat of a bias in the LinkedIn results, as the most active members reporting their career situations are likely to be more tech-savvy and therefore more involved in tech-oriented industries. Nevertheless, it provides an interesting snapshot of where people are going.
Here are the top 10 top growth industries, based on what LinkedIn is seeing. The one major surprise here is to see "public policy" as a growing industry -- this probably overlaps, or may even be interchangeable, with the "think tank" category.
- Renewables and environment (+49%)
- Internet (+25%)
- Online publishing (+24%)
- Philanthropy (+17%)
- E-learning (+16%)
- Public policy (+15%)
- International trade & development (+14%)
- Think tanks (+13%)
- Venture capital (+12%)
- Computer games (+11%)
And here is LinkedIn's view of the top shrinking industries. It may not be too surprising to see restaurants as taking a beating, given the recent recession we're climbing out. And the declines in capital markets and banking -- well, it was a nasty time to be in the business. Puzzling is the decline in supermarkets. The population continues to grow, everyone still has to eat no matter what, and there really isn't an Amazon of supermarkets out there eating everyone's lunch. So what gives? Telecom also seems to be suffering; the rise of Internet-based communications may be behind that.
- Newspapers (-28%)
- Restaurants (-26%)
- Warehousing (-25%)
- Capital markets (-21%)
- Supermarkets (-20%)
- Retail (-15%)
- Automotive (-13%)
- Construction (-12%)
- Banking (-11%)
- Telecommunications (-11%)
Mar 8, 2012
Manufacturing and machining is growing by leaps and bounds...we could take care of the unemployment if people were willing to learn the skill sets needed and unfortunately our education system has decided not to support the best economical answer to our country's woes. Educators generally say uneducated things like, not everyone is cut out for college and so they believe the uneducated belong in blue collar jobs...the fact is, machinists and many trades need to be educated in several areas rather than one degreed area...Example: machinists = science / metallurgists, math / geometric dimensioning, caluclus, geometry, communications, interpersonal and intrapersonal, social intelligence, business, accounting, art, understanding of materials and how they act within certain forms (basket weaving, pottery, jewelry making / welding) They should be making more than most "white" collar administrators and I am still trying to figure out why they do not.....oh, possibly because the administrators and educators who have no true understanding of what it takes have written the business models. So let me rewrite it. Administration = gofers for the resources needed by front line workforce. Organizational developers shoudl be the CEO's and Presidents, mbas, vice presidents and the repair and manufacturing sector should be running lean because of the diversified education they hold. How do I know? Because I have worked in the white collar world and in education....and now that I have found manufacturing, I could not be happier! Karen Schultz
I'd like to think it's the growth in farmers' markets, CSA and other cooperative, local methods of getting food. My small(ish) town has a farmers' market Wednesday, Saturday and Sunday, different locations and different times. I get a bag of produce delivered to my door, year round. Slow Money finds ways to bring investment dollars to local foods.
Is it also possible to explain the data trends by positing that "shrinking" industries simply do not find LinkIn as useful as, say, Facebook or Yelp for reaching customers or recruiting new help, so they just stop using it so much?
I suspect that small supermarkets are being swallowed up by more efficient bigger markets, reducing the number of people needed. Also, real estate busts affect the surrounding retail sectors.
I have always known international trade was going to be big, as the years go our communication gets bigger, globalization gets stronger. According to this blog http://importexporthomestudy.com/import-export-help/how-to-export-products/ also trade deficits will improve with the export industry.
Before the closest thing we had to choose from was, "environmental services," which is closer to taking out the trash than promoting recycling. Was this data adjusted for people who switched to "Renewables & Environment" from a similar stand-in sector when they added the R&E option?
This is another good explanation for the fallout in this sector. There is a movement toward co-ops offering fresh foods, versus megamarkets. But its uncertain how much of a dent this is making in the industry.
That certainly makes sense. As I mentioned in the post, there is likely a bias toward industries in the technology sector in the LinkedIn base.
My experience with LinkedIn has been that it's more like spam than something that's useful for most people
There is a lot of consolidation in this sector, so they may help explain why the opportunities seem to be diminishing,
Agreed, this is an area in which North America has lagged the rest of the world. Assuming that much of the LinkedIn base is North America, this suggests greater impetus in this direction.
Not clear from the LinkedIn report. It's likely that there are the traditional services rolled up with newer ventures such as solar, green, engineering etc.