Job Training & Career Counseling in the US - Industry Market Research Report

On the job: A falling unemployment rate is expected to hinder industry growth

Small, nonprofit establishments provide most job training and career counseling services. Company profit margins are thin, so federal funding and numerous programs supporting these needed services are vital. Before COVID-19, the number of industry establishments was on the decline. But with government aid to help the struggling economy to retool and retrain, establishment numbers rose. Corporate profit rebounded post-COVID-19 and a pivot occurred. The industry that benefited from funding in the downturn was poised to recover with the new remote economy. These changes caused industry-wide revenue volatility over the period. Revenue has grown at a CAGR of 1.8% to $18.0 billion over the five years to 2023, when revenue declined 2.3% following a 9.1% jump in 2022. This industry provides vocational rehabilitation or job counseling and training to those who are unemployed, underemployed or those with disabilities. Operators also provide services to those that have a job market disadvantage due to a lack of education, job skills or experience. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.