The below lists are grouped together into 3 basic categories, which as you can see below, are ranked in terms of the amount of various U.S. dollars generated in the last 3 years. These basic industries are commonly referred to as Industrial Production (see the link above for more details)
It is important to note that the distribution of these types of manufacturing industry is both geographically and by sector, as a whole, so the allocation of value in the economy is actually quite complex.
The chart below is from a G.E. study from 2015, but the same trend is true.
Since the 1930s, the construction and manufacturing industries are shown in yellow and in green, respectively, with finance, insurance and real estate making up the red/orange portion of the country and some people ask following question is basic industries a good career path and my answer is yes.
Agriculture
Government, Building & Construction, Wholesale Trade, Retail Trade, Transportation & Warehousing, Manufacturing, Mining, Oil & Gas, and Utilities.
Featuring The best basic industries in the United States. Information is presented as follows:
- General Industry
- Higher Education
- Healthcare
- Real Estate
- Manufacturing
- Transportation & Warehousing
- Information
- Government
- Wholesale Trade
- Mining
- Utilities
- Education
- Real Estate
- Mining
- Real Estate
- Manufacturing
- Utilities
- Health Care
- Business Services
- Mining
- Transportation & Warehousing
- Retail Trade
- Manufacturing
- Mining
- Government
- Wholesale Trade
- Utilities
- Agriculture
- Health Care
- Information
- Education
Manufacturing
A broader perspective of the state of manufacturing, by economic sector, over the past 30 years, is summarized by the following graphic from the Bureau of Labor Statistics:
Photo by Scott Kirsner.
In real terms, the manufacturing sector has increased its output by more than 40 percent since 1980, even though overall economic output has increased just 7 percent.
Per our calculations, basic materials such as food, fiber, and energy have increased output by 33 percent over the past 30 years, while durable goods, such as machinery and autos, have increased output by less than 20 percent.
Retail
Electronics
Healthcare
Education
Aerospace
The chart above shows the top basic industries according to the US Bureau of Labor Statistics.
I hope you will enjoy looking at the charts as much as I have when looking at the numbers behind the charts. If you want to know more about the data just scroll down the page. The goal is to bring you more in-depth analysis about the underlying data and provide insights into which industry may be looking to hire.
If you liked this article and do any online retail research be sure to also check out my other articles about the best selling products on Amazon.
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Others:
Time Magazine – #3.
Finance
Insurance
Industrial manufacturing
Sporting goods and hobby
Food and beverages
The Top Basic Industries In America
If you thought that was rough, it gets even worse. The list also includes the following:
Dentistry
Photography
Cosmetic surgery
Cosmetics
Pulp and paper
Private detectives
Medical research
Nuclear power
Agriculture
And even more fascinating:
Fire fighting
Transportation
House cleaning
Pedestrian vehicles
Children’s clothing
An expensive way to become rich
Here’s the list of which industries people are flocking to when they want to become rich:
This list looks bizarrely simplistic compared to the lists we’ve made over the years. In previous decades, the top industry was education – with new industries emerging all the time.
Healthcare
Water
Transportation
Semiconductors
Renewable Energy
Homebuilding
Agriculture
Government
Most Popular
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Transportation
Financial
Diversified
Electricity
Mining
Architecture
Architecture Financial Banking
Banking Financial
Fundamentals:
In no particular order, the top basic industries in America are as follows:
The oil & gas sector has the highest average annual growth in jobs per capita.
Mining jobs are predicted to rise by 11% from 2010 to 2020. The good thing about miners is that they are quite diverse. In other words, they operate in both traditional and non-traditional materials. Also, when the economy is good they have the most diverse economic cycle.
According to the Bureau of Labor Statistics, in 2010 mining and logging jobs ranked 1st in the country for average wage.
Aerospace
Automotive
Metals
Railroad
Oil & Gas
Construction
The opinions expressed in this article are the author’s own and do not necessarily reflect the views of EconMatters.
If there’s one thing we have learned over the last fifty years or so, it’s that America runs on money. Money in the form of credit. Money in the form of imports. Money in the form of exports. Money as an investment in new machines and structures. All of it, in short, comes down to money.
Or, more accurately, the lack of money in some cases.
Conclusion
The Emerging-Markets-Initiatives-for-Development (EMID) project, sponsored by USAID and financed by the European Commission, is a research and development program aimed at identifying and implementing best practices in social, economic, and environmental sustainable development for small and medium-sized enterprises.
This recently released EMD Agenda report compares five basic industries and identifies the top five best practices for SMEs in each:
High performance electricity/gas utilities;
Insurance/financial services;
Solar-panel manufacturing;
Food/beverage manufacturing;
Oil and gas extraction and support services.
The EMD Agenda provides basic statistics on the five industries that are primarily employment-driven and trade-oriented.
