Economic history has shown that, as an economy develops, so does its service sector. This is certainly true for the United States, one of the most highly developed countries in the world and certainly a service economy. As Statista’s Felix Richter details below, according to the U.S. Bureau of Labor Statistics, service-providing jobs account for more than 70 percent of nonfarm payrolls in the country, while goods-producing jobs account for less than 15 percent of jobs. In the 1940s, both sectors were tied at little above 40 percent, with government…
