Life Coaches

As of 2021, the life coach industry in the U.S. is a $991.5 million business. There was a nearly 2 percent decline in growth in the life coach market from 2016 through 2021, and a 1 percent decline in employment of life coaches in 2021. The coronavirus pandemic contributed to an economic slowdown in 2020, which caused consumers to scale back on their spending. On the other side of this, however, is that with more people unemployed, more life coach services will be needed to help people resume or redirect their businesses and professions. As reported by the market research group IBISWorld, "...when consumer confidence drops, consumers look for life coaches to help them deal with the added stress of unemployment, lower pay, or uncertain career outlooks. Moreover, many Americans enlist life coaches' services especially for professional settings during weak economic periods." As the pandemic becomes contained and the economy improves, more people will be in need of life coaches to get their business and personal goals on track.