The Business services industry encompasses a broad range of activities that benefit companies without the need for them to supply tangible products. These activities can offer convenience, lower costs, better safety and marketing benefits for large firms that can’t do everything in-house. These activities include business-to-business (B2B) shipping, accounting and bookkeeping, warehousing, marketing and inter and intra-departmental communication.
Unlike goods, which can be stored in inventory, services cannot be stockpiled or saved for future use. Instead, a service is delivered when it is demanded by the customer. This is one of the primary differences between a product and a service.
A B2B service provider helps a client in exchange for a flat or hourly fee. These businesses are a large segment of the economy and can be found anywhere in the world. The services they provide are often complex and require an understanding of a variety of industries. They may help customers reduce costs, improve productivity or increase profit margins. The services they offer may also include consulting, training and other forms of information technology.
This section provides data and insights about employment and unemployment in the professional and business services industry supersector. Data comes from both employer and establishment surveys, as well as a national survey of households. Tables present information about the number of jobs, unemployment rates and labor force participation, gross job gains and losses and union membership and representation. It also includes an analysis of sector-level employment changes and projections.