Expanding service sector
Synonyms: Increasing services industry
Implementation: In western economies, growth in the service sector was very marked in the past two decades of the twentieth century. This rapid expansion, and concomitant growth in employment, has been driven by a combined growth in services to businesses and social and personal services, in particular in the 1980s.
Claim: Overall employment growth in the service sector will slow down in the decade of the 1990s and a polarization of jobs is likely to occur. Currently the service sector in North America and western Europe, in particular the financial sector, retailing and the public sector, is being restructured as manufacturing was in the 1980s, in response to financial constraints, competitive pressure and new technologies. Job cuts and early retirement schemes will be introduced as firms consolidate or are taken over.
Subjects: ServicesIndustry Service sector
Type Classification: C: Cross-sectoral strategies