The cosmetology industry continues to grow. This industry is alive and well, with salons creating new jobs, beauty stores selling more retail, and spas gaining new customers. The Bureau of Labor Statistics predicts a 10% growth overall from 2014 to 2024 for cosmetology careers, which is great news for anyone thinking about enrolling in beauty school!
Employment in the Coming Years
The Bureau has estimated that projected employment in 2024 for hairstylists will be 655,600 – that’s a lot of jobs! And it’s a growth of 58,400 jobs compared to 2014. Manicurists, pedicurists and skin care specialists can expect an increase in their jobs, as well, about 10%. Massage therapy will do even better, with a 22% growth by 2024!
The Opportunity to Come
So why is the industry going to grow so much in 2017 and the coming years? Well, there are several reasons:
- Baby boomers are starting to retire, and they have disposable incomes. Women will always get their hair done and purchase beauty products. That doesn’t stop when they reach 60.
- Men’s services are becoming popular. Hair, skin and beard care are still relatively new trends for men, but this niche market is growing and becoming increasingly popular. It likely won’t end anytime soon and will rather grow, increasing service and product sales at salons.
- Millennial moms are concerned with their child’s skin and hair. These new moms are willing to pay top dollar to make sure their kids have a great experience in a salon and that their skin is being cared for. Children’s services will likely increase in the next few years.
2017 is going to be a good year for the cosmetology industry, and it’s only going to get better. What the future holds, no one knows for sure, but the cosmetology industry has always been resilient and successful, even in times of economic stress. People will always want their hair to look nice and feel healthy!
If you’re ready to start your cosmetology career in this amazing industry, schedule a tour at VICI Beauty School. Also, check out 10 Amazing Careers in the Beauty Industry to learn more about the jobs available to you. Or take our fun cosmetology definitions quiz to see how much you already know about the beauty industry!