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Blog Category: Service Sector

Census Bureau Reports Post-Recession Growth in 10 of 11 Service Sectors

Graphic of motion picture and video industries change (graph: Census Bureau)

The Department of Commerce's U.S. Census Bureau today released its 2010 Service Annual Survey, which shows that of the nation’s 11 service sectors, 10 showed an increase in revenues for employer firms between 2009 and 2010. These figures are the first findings from this survey to track the revenues of services after the December 2007 to June 2009 recession.

The statistics cover multiple service sectors: the information services sector; the health care and social assistance sector; the finance and insurance sector; and the arts, entertainment and recreation sector. The information sector increased from $1.08 trillion to $1.1 trillion. Within this sector, Internet publishing and broadcasting continued to see increased revenues, up 11.3 percent from $19.1 billion to $21.3 billion in 2010. Television broadcasting increased 12.0 percent from $31.6 billion to $35 billion. Cable and subscription other programming as well as wireless telecommunications carriers also saw increases in revenue of 7.3 percent and 5.3 percent, respectively, to $55.2 billion and $195.5 billion.

See the complete list on their full press release.

This growth within the service sector mirrors a May 2011 report that showed the record services trade surplus that continues to grow. U.S. trade in private services totaled $526.6 billion in 2010, representing a trade surplus that is growing, rising from $66.7 billion in 2003 to $168 billion in 2010.