You're More Likely to Get Laid Off If You Work in One of These Industries, Study Finds According to the Bureau of Labor Statistics, these 10 industries have the highest rates of layoffs.
By Madeline Garfinkle Edited by Jessica Thomas
Opinions expressed by BIZ Experiences contributors are their own.
Nothing is ever guaranteed, but when it comes to a job, some industries are safer than others.
Job marketplace Outsource Accelerator found the worst and best industries for job security by analyzing data from the Bureau of Labor Statistics.
Jobs in the arts, entertainment and recreation field have the worst job security, with an average layoff rate of 2.98% in 2022. Based on the number of people employed in those industries, that's nearly 69,400 layoffs per month, according to the report.
Next on the list is the construction industry, with a layoff rate of 1.8% in 2022, equating to 139,200 layoffs on average per month.
Related: The Portfolio Life: A Surprising Route to Job Security
Professional and business services have the third-highest rate of layoffs at an average of 1.56%. However, because this category encompasses many industries (accounting, engineering, computer services, etc.), it has the highest number of layoffs per month with an average of 353,000. The total number of people working in this category is about 22.6 million.
As far as the industry with the most security, jobs in the federal government have the lowest rate of layoffs with an average of 0.22%. With recession fears looming, it's not a bad time to work a government job. You can see the top 10 least secure industries below.
|
Industry |
Average number of layoffs per month |
Layoff rate |
1. |
Arts, entertainment and recreation |
69,400 |
2.98% |
2. |
Construction |
139,200 |
1.80% |
3. |
Professional and business services |
353,200 |
1.56% |
4. |
Information |
33,800 |
1.12% |
5. |
Other services |
61,000 |
1.06% |
6. |
Transportation, warehousing and utilities |
78,000 |
1.08% |
7. |
Nondurable goods manufacturing |
48,000 |
0.98% |
8. |
Mining and logging |
5,000 |
0.78% |
9. |
Accommodation and food services |
112,400 |
0.82% |
10. |
Real estate and rental and leasing |
17,800 |
0.78% |
