US Service Sector Soars in July

"Don't call it a comeback / I've been here for years." - LL Cool J

The U.S. service sector expanded in July at its fastest pace in five months. The Institute for Supply Management (ISM) reported that its service index rose to 56 last month, exceeding economists' expectations for 53 and a significant improvement over June's 52.2. A reading above 50 indicates the sector is expanding.

U.S. Jobs: It's All About The Service Sector

The U.S. Service Sector is not only the economy's most diverse sector, it is huge - employing 90% of the workforce. Service workers are the highest paid and best educated, and they are the lowest paid and least educated. The sector encompasses neurosurgeons, college professors, delivery-truck drivers and dishwashers.

The United States Census Bureau published an interesting study entitled "1940-2010: How Has America Changed?" Looking at the American workforce, we see that it has more than tripled in the last 70 years with a major industry shift from jobs in manufacturing and agriculture (41.9%) to service jobs.  This mega trend is unlikely to reverse any time soon.


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