December 3, 1999 (The Editor’s Desk is updated each business day.)
Service sector dominant source of new jobs
The service-producing sector of the economy is
projected to grow by 19.1 million wage-and-salary jobs between 1998 and
2008. This represents nearly 95 percent of total employment growth over
that period. In the latter year, the service-producing sector will account
for almost 3 out of every four jobs in the U.S. economy.
[Chart data—TXT]
Within the service-producing sector, the robust growth of the services
industry division will continue. Employment in this diverse group of
industries is projected to increase by 11.8 million by 2008, accounting
for about 60 percent of total growth in the service-producing sector.
Within the services division, nearly three-quarters of projected job
growth is concentrated in three industry groups—business services (4.6
million jobs), health services (2.8 million) and engineering, management
and other services (1.1 million).
Projections of the industrial composition of employment are a product
of the Employment Projections program. The
services industry division is the sub-set of the service-producing sector
of the economy that supplies services to other businesses and to
individuals. Other service-producing industries include transportation,
communications, utilities, trade, finance, and government. To find out
more, see articles from the November
1999 issue of
Monthly Labor Review.
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
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