Fastest-Growing Industries in the US (And Why They Need Background Checks)

179509445Which industries are going to grow the fastest in the coming years, and why are background checks important for the explosion of jobs? We looked at US Department of Labor statistics to answer both questions.

While technology and the economy have pushed numerous industries into long-term decline—particularly those within the manufacturing sector — other fields are booming. Indeed, according to the DOL and the Bureau of Labor Statistics, industries in healthcare, social services, professional and business services, information technology, and finance are expected to see substantial growth over the course of the upcoming decade.

Needless to say, this growth is going to push businesses in these industries to ramp up their hiring numbers. Employee background checks are going to be an extremely important component in making that transition. Here are just a few of the country’s fastest growing industries, as well as why pre-employment background checks are going to be vital to their sustained growth and evolution.

Aged Care Providers

The BLS predicts the home health services industry will add 760,400 jobs between 2014 and 2024,. That figure is almost double the amount of job growth the BLS predicts for any other industry.

It’s not particularly difficult to see why home healthcare is going to become so much more important over the next few years. Thanks to aging Baby Boomers, the population of the United States is growing older. According to Census data, the senior citizen population in the United States (or those over the age of 65) will be 83.7 million by 2050 — almost double what it was in 2012. This trend of increasing age will lead to a substantial rise in the demand for aged healthcare. In turn, this rise in demand will mean that both home healthcare and nursing/residential care industries are going to add a plethora of new jobs in the coming years and decades.

If you’ve paid much attention to the news lately, it will be clear why background checks are vital for keeping these industries viable. On more than a few recent occasions, we’ve seen stories about home healthcare workers who abused their positions to embezzle from elderly patients. In-home care is often an ideal opportunity for theft or embezzlement because some of the older adults in need of these services don’t notice that they are being cheated or robbed.

Background checks can help to identify individuals with histories of theft, embezzlement, fraud, abuse, or neglect — all factors that can manifest themselves in nasty ways in the home healthcare industry. While there is slightly more oversight in nursing homes or residential care facilities, the same types of crimes against patients do sometimes occur, meaning that in-depth background checks will need to be a cornerstone of both industries.

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The housing market crash, the 2008 financial crisis, and the ensuing Great Recession were all caused in part by massive fraud and corruption in the finance sector. The economy has made a solid recovery in recent years, but most people still aren’t ready to trust Wall Street again. For good reason: according to a February 2009 report from U.S. News & World Report, the average employee lost $10,000 of their retirement savings in 2008. Wealthy savers with more than $200,000 invested in retirement funds, meanwhile, lost a quarter of their savings.

Despite these heartbreaking monetary losses and the distrust that came with them, it looks like investing is picking up steam again. BLS reports list two “Financial activities” sectors on the fastest growing industries list: “Securities, commodity contracts, and other financial investments and related activities” and “Funds, trusts, and other financial vehicles.”

Individuals working in these two industries have a high level of responsibility when it comes to the financial assets of clients. Criminal background checks looking for past convictions of fraud, forgery, theft, or embezzlement will be paramount. In addition, civil background checks might be recommended to find out if financial advisors, investment portfolio managers, and/or trust executors have been sued in the past for poor handling of money.

Offices of Dentists or Physicians

Home healthcare may be the fastest growing industry in the United States, according to DOL statistics, but the healthcare sector in general is going to grow significantly in the next decade. Among the centers of growth are offices of physicians and offices of dentists. Doctor’s offices are expected to drive the creation of more than half a million jobs between 2014 and 2024. Dental offices are expected to see a smaller expansion of about 150,000 jobs but are still notable for their growth rate.

Individuals working in doctor’s or dentist’s offices need to be thoroughly screened for several reasons. For one thing, many of the jobs in these healthcare-related settings demand specialized training and certification. Verification background checks are a smart precaution to ensure that all workers have the necessary education, experience, certification, or licensing. For another thing, employees in these offices often have sweeping access to both patient records and drugs or medications. Background checks can help ensure trustworthy employees and prevent issues with identity theft, prescription drug theft, information leaks, and more.


These industries represent just a few of the many sectors that are likely to see growth in the company years. As you can see, background checks are essential for each field — though there are different reasons for their importance depending on the industry. In the growing world of entrepreneurial tech startups, for instance, background checks might be most important as a protection of brand image. In the medical fields, background checks are essential as a liability precaution. In both cases and in many others, pre-employment checks are as essential as any other facet of your business.

Bottom line, if your business or industry is growing, congratulations. Just don’t skip the background checks as you rapidly onboard new employees to meet demand. Failing to properly vet your employees is something that will eventually have consequences, and those consequences truly can undo all of the growth your business is experiencing right now.

Michael Klazema

Michael Klazema
Michael Klazema has been developing products for the background screening industry since 2009 and is lead author and editor for a background checks community.

Michael Klazema

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