Are you considering entering the fabulous cosmetology industry? If so, you might be wondering just how big the cosmetology industry really is, and what is the job outlook for people attending cosmetology school in Austin right now? We’ve got you covered with the latest cosmetology industry statistics.
What is the Cosmetology Industry?
The cosmetology industry covers barbers and hairstylists, along with a range of other beauty service providers including makeup artists, estheticians, and nail care professionals.
Job Outlook for Cosmetologists
- Hair salons throughout the US bring in around $44 billion in revenues every year.
- Industry profits for hair stylists grew from 1.9% in 2009 to 5.7% in 2014.
According to BLS.org, in 2018 there were 766,100 jobs open to professionals in the cosmetology industry. Job outlook between now and 2028 is expected to grow by 8%, which is faster than average. Population growth is a leading factor in the demand for more beauty service providers, but it’s not the only factor.
Even during the most recent recession, the cosmetology industry remained profitable. According to the American Association of Cosmetology Schools, non-employee-based salons and spas increased by seventy-two percent between the years 1999 and 2009. At the same time, they experienced a 116 percent increase in sales. Salons who hired employees saw an 11 percent increase, with sales swelling by 47 percent over that same period of time.
The AACS reported that 1/3 of all cosmetology professionals are self-employed. This includes cosmetologists who rent a booth at a beauty shop or salon, as well as those who own and operate their own cosmetology businesses. To put that number into perspective, just 7 percent of people in the US are self-employed.
Increase in Demand for Cosmetology Industry Professionals
The US Department of Labor reported that the cosmetology job market is expected to expand by 16 percent between 2010 and 2020. Population expansion has something to do with it, but so too does a greater demand for advanced treatments like hair coloring, makeup artistry, and so forth.
Interestingly, hair coloring services jumped 2.6 percent thanks to Baby Boomers looking to cover up their gray hair.
Blow-dry bars are also fueling the industry, with a twenty-five percent growth in revenues in 2017.
Kickstart Your Future at Avenue Five Institute
A job in the cosmetology industry is exciting and offers a whirlwind of unique opportunities. It all begins when you enroll in Cosmetology School.
Avenue Five Institute offers two vibrant locations, one in North Austin and one in South Austin. Our hands-on cosmetology program has so much to offer, learn more or book a tour at one or both campuses – we look forward to meeting you!