Newspapers the fastest-shrinking industry in the U.S.

LinnkedIn reporting: How has our economy evolved in the past five years? Which industries are shrinking or growing through these challenging economic times? These are some of the questions that the Council of Economic Advisors (CEA) delves into each February in the “Economic Report of the President” (ERP). This year, the CEA worked with us to glean further insights into industry trends both during the recent recession and after its end in June 2009 [1].
With the data and methodology [2] in hand, we calculated the growth rates in industry size between 2007 and 2011. Here’s what we found:

The fastest-growing industries include renewables (+49.2%), internet (+24.6%), online publishing (+24.3%), and e-learning (+15.9%). Fastest-shrinking industries were newspapers (-28.4%), retail (-15.5%), building materials (-14.2%), and automotive (-12.8%).
Instead of the growth in percentage terms, we also examined the volume of job gain / loss by industry, as indicated by the largest bubbles in the figure above. Our data show that even through the recession, the industries with the largest volume of employment growth (the largest circles on the figure above) were internet, hospitals & healthcare, health, wellness & fitness, oil & energy, IT and renewables. On the other side of the story, retail, construction, telecommunications, banking, and automotive had the largest volume of job losses between 2007 and 2011.