What the hell is the service sector?

[onodera]

I keep reading about the service sector and how it dominates the developed economies and I always go , because I imagine a whole army of hairdressers and waiters.
I have a suspicion that it is so big and important because trade and finance are included there. Is that so? Does anyone have a breakup of the service sector of the economy of any developed country so I could see how much there's left without trade and finance?

[Aeson]

Judging by the internet, 99% of a technologically advanced economy is porn related.

[SlowwHand]

http://en.wikipedia.org/wiki/Tertiary_sector_of_industry

[Saras]

Re: What the hell is the service sector?

Originally posted by onodera
I keep reading about the service sector and how it dominates the developed economies and I always go , because I imagine a whole army of hairdressers and waiters.
I have a suspicion that it is so big and important because trade and finance are included there. Is that so? Does anyone have a breakup of the service sector of the economy of any developed country so I could see how much there's left without trade and finance?

retail and wholesale trade, finance, telecoms, legal services, consulting, engineering, training, facilities maintenance, advertising, marketing, media, publishing, entertainment, software etc etc etc.

Last I checked iirc UK financial sector was about 10%, and no idea about trade.

[SlowwHand]

If it's not manufacturing something, it's service.

[LordShiva]

Teh Service Sector

[Dinner]

Basically if you aren't involved in manufacturing, agriculture, mining, forestry, or some other industry which produces an item you can hold in your hand then you're provide a service. Financial services, accounting, legal advice, computer programing, engineering, writers, scientists, educators, retail sales, office clerks, medical personal, domestic help, etc...

The reason it is so big is because of the definition. Likely every country with modern agriculture (as opposed to peasant subsistence farming) likely has its economy dominated by services. Most services simply redistribute existing wealth though a few like programmers are creating useful new wealth.

[Dinner]

Actually I'm confused. Is distribution and trade in goods a service or not?

[Nugog]

Hospitality is also part of the service sector.

[Saras]

Originally posted by Oerdin
Actually I'm confused. Is distribution and trade in goods a service or not?

Yes.

[Jon Miller]

Originally posted by Oerdin
Basically if you aren't involved in manufacturing, agriculture, mining, forestry, or some other industry which produces an item you can hold in your hand then you're provide a service. Financial services, accounting, legal advice, computer programing, engineering, writers, scientists, educators, retail sales, office clerks, medical personal, domestic help, etc...

The reason it is so big is because of the definition. Likely every country with modern agriculture (as opposed to peasant subsistence farming) likely has its economy dominated by services. Most services simply redistribute existing wealth though a few like programmers are creating useful new wealth.

I produce knowledge (Right now) and am not in the service sector.

JM

[Dinner]

So power generation would be manufacturing (since you turned coal into energy or what not) but water utilities would be distribution? Or do the water utilities turn untreated water into treated water and there for is manufacturing? Also what about bakers, brewers, & wine makers who take raw materials and "manufacture" a finished product?

[Jon Miller]

I dont' count bakers as service industry

waiters/etc are though

JM

[Dinner]

But if we say a baker isn't a service because he's taking one type of food and turning into a fancier food then why not a cook who takes raw foods and makes fancy foods?

[Jon Miller]

cook isn't a service either..

JM