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In the united states, the service sector has been responsible for nearly 90 percent of all new jobs since 1990.

What is the service sector in the US?

  • According to the U.S. Census Bureau, the service sector includes a variety of service industries, such as warehousing and transportation services, information services, securities, and other investment services, professional services, and waste management. It also produces intangible goods or services rather than goods.
  • The United States already had a "service economy" by 1940, meaning that more than half of its workforce was engaged in creating intangibles. The tertiary sector employed two-thirds of the workforce by 1975.
  • The United States annually exported services worth more than 50 billion dollars. Given this, it is simple to understand why the service sector has grown to be the most valuable component of the American economy.
  • By offering greater network facilities, the service sector aids in the development of agricultural production. Moving raw resources and finished products from one location to another is helpful.

In the united states, the service sector has been responsible for nearly 90 percent of all new jobs since 1990.

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