Discuss the importance of services to the economy. The service sector plays a crucial role in the U.S. economy, employing more than 80 percent of the workforce and accounting for a similar percentage of the gross domestic product.
1. To keep track of how service employment is affecting the U.S. economy, go to www.bls.gov/bdm/. Look at the right sidebar, which gives the latest numbers for Business Employment Dynamics. What trends to you see? Do the numbers support the information from the chapter?