8 RISING INDUSTRIES
According to “ West Virginia Economic Outlook 2017-2021 ,” service-providing sectors will experience the most job growth , specifically professional and business services , education and health services , leisure and hospitality , trade-transportation and utilities , government , construction , natural resources and mining and manufacturing . Here we take a look at these eight rising industries and the role they will play in West Virginia ’ s future .
Professional and Business Services
In the next five years , the professional and business services sector is expected to add jobs at a pace of more than 1.7 percent per year . Much of this growth is expected to come from increased contract labor utilization by natural gas producers and field support services firms , but the gas industry ’ s improved prospects should also bolster demand for engineering , legal and other consulting industries .
Education and Health Services
Thanks to steadily growing demand for health care , education and health services will see employment grow at an average rate of 0.7 percent .
Leisure and Hospitality
Leisure and hospitality is expected to enjoy job gains of nearly 0.7 percent per year through 2021 , with the food services and drinking places sector likely growing faster than the accommodation sector .
Trade-Transportation and Utilities
Retail will likely see moderate improvements of 0.3 percent per year through 2021 , while wholesale trade and transportation and warehousing sectors are expected to see job growth proceed at roughly 0.4 percent . In addition , transportation companies that provide services to natural gas rigs and well sites will benefit from the anticipated growth in drilling activity .
Government
Government employment is projected to eke out a minimal increase as the structural budget issues facing the state government will likely limit any potential hiring activity and many local governments are dealing with shrinking tax bases and a lower level of receipts from coal severance tax allocations .
Construction
The construction sector is expected to get a major boost in the coming years . The forecast calls for the sector to grow on average 2.2 percent annually through the end of 2021 . Much of the growth will occur between 2017-2019 as the energy industry will see several key projects proceed . Reconstruction in the areas affected by the June 2016 floods will also bolster activity over the next year or so . At the same time , major commercial projects as well as several major projects by WVU will continue to add tens of millions of dollars more in spending during the next few years . The forecast also calls for single-family housing starts to rise at approximately 6.5 percent per year through 2021 .
Graph 2.13 WV Employment Growth Forecast by Sector
SOURCE : U . S . Bureau of Labor Statistics and WVU BBER Econometric Model
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