Industries & Professions /
Employment for collection workers is expected to grow as fast as the average for all careers through 2020, according to the U.S. Department of Labor (DOL). Demand for cash flow is causing businesses to hire more and more debt collectors. Also, America's debt is growing. Due to the relaxed standards for credit cards, more people, regardless of their financial circumstances, are able to get credit cards, make purchases on credit, and build up large debts they have difficulty repaying. The DOL also notes that the health care industry is one of the fastest growing employers of bill collectors and collection agencies; growth of 44 percent is expected for collection workers in this sector through 2020. This is largely because health insurance plans frequently do not adequately cover payment for medical procedures, and patients are often left with large bills that they have difficulty repaying. Economic recessions also increase the amount of personal debt that goes unpaid. Therefore, unlike many occupations, collection workers usually find that their employment and workloads increase during economic slumps.
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