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More About the Growth of Service Industries

Recently I pointed out [1] that service industries have outpaced goods-producing industries. The vast majority of jobs in the United States are in service-producing industries — about 80%.

Here’s more about the growth of service industries. According to the Bureau of Labor Statistics, the 10 fastest growing industries in the United States are all service industries.

Five of the 10 fastest growing are information services. Four of them are health-care services. The remaining one is a public works service (water and sewer systems).

Here is another chart with a macro view of service industries growing over the next seven years, while goods-producing industries decline.

Does this surprise you?