Industry Analysis & Industry Trends
High unemployment rates and demand for job training allowed the industry to grow during the past five years. However, revenue is set to move downward over the next five years. Increased competition from colleges and universities that offer free career counseling will cut into industry demand. Further, the employment rate will improve, so fewer individuals will need the industry's services. Nevertheless, unemployment will decrease slowly, preventing a severe decline in revenue... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Job Training and Career Counseling industry is in the decline stage of its life cycle. During 2008 and 2009, federal government funding increased for the industry. Funding has been diverted to job training centers, which are providing additional help and training for those who are unemployed. Despite this support, industry value added, which measures the industry's contribution to the overall economy, is anticipated to grow at an annualized rate of only 1.1% over the 10 years to 2018, while GDP is expected to grow 2.1% annually on average.
Because the industry's barriers to entry are low to medium, a lot of sole proprietors entered the industry to take advantage of the high unemployment rate caused by the recession... purchase to read more