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Career Services Market Sizing
Key Takeaways
- The job training and career counseling market is estimated to reach $15.3 billion in 2022, growing at a compound annual growth rate of 1.7% between 2017 and 2022. In 2012, the market was valued at $14.736 billion.
- Between 2008 and 2011, the market grew from $12.93 billion to $13.56 billion.
- Gen Zers are motivated to advance and grow their careers through learning new skills. In fact, nearly 76% of Gen Zers consider learning as the most important factor in their career advancement. Moreover, 94% of Gen Zers are more motivated and engaged when they are offered learning opportunities related to their job.
Introduction
This research brief analyzes the job training and career counseling market in the United States. It provides the market size and growth. The research brief outlines the historical breakdown of the market size from 2008 to 2022.
While our research could not find any publicly available data surrounding the share of Gen Z in the market or proving that Gen Z is a primary driver of growth, we found some quantitative and qualitative data that shows how the generation is affecting the market. These findings were added below. Further details on the logic can be found in the Research Strategy section.
Job Training and Career Counseling — Market Analysis
- According to an IBIS World report, the job training and career counseling market in the United States grew at a compound annual growth rate (CAGR) of 1.7% between 2017 and 2022.
- The market was valued at $14.736 billion in 2012 and $14.4 billion in 2018. By 2022, the market is anticipated to reach $15.3 billion.
- These findings are supported by another report from Market Research which found that the market recorded a market size of $16.5 billion in 2019.
- The chart below outlines the market growth between 2008 and 2011.
- 2008: $12.93 billion.
- 2009: $13.14 billion.
- 2010: $13.35 billion.
- 2011: $13.56 billion.
- The chart below explains how the market has grown between 2012 and 2021.
- 2012: $14.736 billion.
- 2013: $14.281 billion.
- 2014: $13.962 billion.
- 2015: $14.176 billion.
- 2016: $13.893 billion.
- 2017: $14.104 billion.
- 2018: $14.404 billion.
- 2019: $15.093 billion.
- 2020: $16.499 billion.
- 2021: $15.585 billion.
Market Size and Growth
Historical Breakdown (2008 to 2011)
Historical Breakdown (2012 to 2021)
Job Training and Career Counseling — Gen Z
- Gen Zers are motivated to advance and grow their careers through learning new skills. In fact, nearly 76% of Gen Zers consider learning as the most important factor in their career advancement.
- Eighty-three percent of Gen Zers want to learn skills to perform better in their current role.
- Gen Zers value continual learning and development (L&D) more than other generations. Ninety-four percent of Gen Zers are more motivated and engaged when they are offered learning opportunities related to their job.
- They favor in-person training (instructor-led), with 40% of them preferring this option.
- Gen Zers, "who indicated plans or hopes to leave their current roles, have the clearest job-hunting agenda of any age cohort. They’re the leaders in seeking better alignment with their values (80%), more opportunities to learn or practice new skills (76%), and more opportunities to move up or increase responsibilities (61%)."
Research Strategy
For this research on the job training and career counseling market in the United States, we leveraged the most reputable sources of information available in the public domain, including research websites like ResearchGate, Business Wire, and Market Research. Moreover, we scoured industry experts' websites, including the National Career Development Association (NCDA). We also combed through consulting websites, such as Statista and IBIS World.
While our research could not find any publicly available data surrounding the share of Gen Z in the market or proving that Gen Z is a primary driver of growth, we found some quantitative and qualitative data that shows how the generation is affecting the market.
Note: In some instances, slightly dated resources were used to add robustness and corroboration to the findings, considering the nature of the topic (for the historical breakdown) and the limited availability of more recent reputable sources (for Gen Z).