The first half of the year is already over, and it was not a good one for the stock markets overall. All global indices are clearly in the red since the beginning of the year. But there is also good news from the USA.
Solar Industry: Pandemic Effect Not Yet Fully Recovered
The Department of Energy (DOE) presented the U.S. Energy and Employment Report (USEER) recently. According to the report, over 17,212 new jobs were created in the U.S. solar industry last year. Compared to the previous year, this is an increase of 5.4%. Overall, this energy sector comes to exactly 333,887 jobs as of the end of December 2021.
A year ago, it was still 316,675. Compared to the pre-pandemic year, however, this is still a slight decline of -3.4%. That’s because in 2019, the number of people employed in the solar industry was 345,393. But the turnaround is clear.
Employment Surge in U.S. Energy Sector
The same is true for the entire energy industry in the US. After a sharp decline in 2020 to 7.5 million jobs, employment is now up 4% to 7.8 million.
The encouraging 4% increase in employment across the energy industry is well above the U.S. economy’s average of 2.8%. Another detail from the latest DOE report is interesting. 40% of energy industry jobs were in the “climate neutrality” (“Net-zero emissions economy“) sector. This includes jobs related to electric and hybrid cars, for example. Here, the growth was 26 and 19%, respectively.
You Should Place A Clear Focus On These Crisis-Winner Industries
Bottom line: the employment numbers for the U.S. energy sector as a whole, but especially for solar and e-mobility, underscore its status as a crisis-winner sector. Or to put it another way: even as winning industries in the current crisis. Therefore, as an investor, you should set a clear focus here in your portfolio.