The U.S. growth engine is being driven by service oriented businesses now accounting for over 71% of all jobs, while government and goods-producers amount to 15%, and 14%, respectively. In May, 90,000 new hires were added to the private sector, led by service providers at 82,000 workers, while goods producers grew by 8,000. Last month the government sector eliminated 15,000 jobs. Private sector payrolls rose 1.8% in the past year, an increase of 2,263,000, while government hiring was a scant 0.4%, at 87,000. For enterprising individuals looking to open a business for themselves, or find gainful employment, I’d say taking a closer look into the services space is a great place to start!
