Right now, some service businesses are more affected than others by tariffs on goods.
Services also account for about a third of U.S. exports.
ISM data was mostly positive, while S&P Global reported weakness. The discrepancy may be down to who’s responding — and when they’re doing it.
Airline tickets and eating out cost more in August than July. But price gains are easing in other previously sticky industries.
The services sector has expanded in 47 of the last 50 months, according to the Institute for Supply Management. Several business owners in the sector report renewed strength this year.
Instead of $50 main courses, they’re opting for sandwiches and other lower-priced items, say restaurants around the country.
China sells goods into the U.S. market easily, but American service providers face a range of barriers in China, which vary across industries.
Most jobs in the U.S. are service jobs. They make up the biggest part of the economy, far bigger than manufacturing or farming.
That question stumped Kai and Molly on this week’s “Make Me Smart.” Here’s the answer.
The vast majority of American jobs are in the services sector; as distinct to manufacturing, agriculture and others.
