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Service Super Sectors

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What are the nine service super sectors? Explain the growth of each super sector using examples to support your reasoning.

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Service Supersectors
To allow for ease of analysis, the US Economic Classification Policy Committee combined NAICS sectors into groupings called "super sectors" (US Department of Labor: Bureau of Labor Statistics, 2003). The nine service super sectors are comprised of
• Education and Health Services
• Financial Activities
• Government
• Information
• Leisure and Hospitality
• Professional and Business Services
• Transportation and Utilities
• Wholesale and Retail Trade
• Other Services

Education and Health Services
The Education and Health Services super sector has shown steady employment growth for the past decade, increasing by nearly 20% (Bureau of Labor Statistics, 2014a). Two factors have had a significant impact on the growth of this sector: the proliferation of online college education from both private and public institutions, and the so-called greying of America. Online education has increased every year for the past ten years (Sheehy, 2013). The Baby Boomer generation, which makes approximately up one third of the population of the United States, began retiring in 2006 (Orlovsky, 2007). The sheer numbers are already overwhelming the healthcare industry; the healthcare sector will continue to grow to meet their needs.

Financial Activities
This sector has had difficulties since the start of the great recession in 2007. The sector had shown steady employment increases until that time, peaking in 2007 and then dropping by 8.5%. This sector has still not recovered fully, remaining at only 94% of the people formerly employed (Statistics, Bureau of Labor, 2014b).

When looked at separately, the number of federal employees has increased (Strain, 2014).Total government employment — federal plus state and local — has fallen significantly since 2008. Many state and local government entities were forced to downsize during the great recession. Overall, the government sector has grown.

The Information sector includes establishments engaged in the following processes: (a) producing and distributing information and cultural products, (b) ...

Solution Summary

This is review of the 9 service super sectors and their growth during the past 10 years. It is APA 6th Edition formatted with numerous references.

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1. Evaluate this assertion: since 1997 there has been a steady decline in hospital mergers. A major reason for this decline has been the lack of anticipated cost savings from the mergers.

2. Also, if a health care merger goes wrong what are the chances of a successful "demerger?"

BrainMass OTA, please provide you ideas in a concise less than 150 words per question. I need this to the point, succinct and brief because OTAs tend to confuse me with verbose, too in-depth analysis in which I can draw from for my own response. Please, use as much plain English as possible.

In your response I would like you to reference the attached chapter from McLean, Robert A. (2003). Financial Management in Health Care Organizations (2nd ed.). Albany, NY: Delmar Publishers.

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