Sales
- The service industry is responsible for nearly 20 percent of the nation’s GDP, 4 percent of which is contributed by restaurant sales alone.
- In 2013, the service industry added $3.35 trillion to the national GDP.
- Total industry sales for 2014 increased 4 percent as compared to 2013.
- In fact, the service industry recorded the strongest sales volume on record in December 2014, as well as the eighth consecutive monthly increase, totalling $49.6 billion on a seasonally-adjusted basis.
Employment
- The service industry is the world’s fastest growing industry, adding one new job every 2.5 seconds.
- Job growth within the industry has outpaced U.S. national job growth for 15 years running.
- In the last five years, the service industry has added 3 million jobs.
- In total, the service industry is responsible for more than 25 percent of all private sector jobs within the U.S.
Opportunity
- The majority of entry level restaurant employees receive a pay raise within the first 6 months of starting the job.
- 9 out of every 10 restaurant managers, supervisors, and chefs started their careers in an entry level position within the service industry.
- 8 out of every 10 restaurant owners, too.
Connect The Dots: The service industry is here to stay, so find your way in with Sirvo!