For American Growth, Learning to Innovate in a Service Economy
The U.S. economy desperately needs to create more jobs. Payrolls were up 103,000 jobs in December, according to the U.S. Department of Labor. These numbers provide some encouragement that job growth may be returning to the U.S. economy.
Not surprisingly, most of these new jobs were in services. The Department of Commerce estimates that–just like in most advanced economies around the world–more than 70 percent of employment in the U.S. comes from service firms, with the most recent growth in jobs led by leisure, hospitality and health-care workers. Services have long been a major piece of the employment puzzle, and the most recent data simply confirms that our economy will be even more service-focused going forward.
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