FUNDAMENTALS OF COMPUTER

Detailed explanation-1: -The service industries include the retail sector, the financial sector, the public sector, business administration, leisure and cultural activities. The service industries accounted for 79% of total UK economic output (Gross Value Added) and 82% of employment in July-September 2022.

Detailed explanation-2: -The tertiary sector is the main growth area. Most people work in hospitals, schools, offices and financial services. Also, as people have more free time and become wealthier there is a greater demand for leisure services. Therefore more jobs become available in the tertiary sector.

Detailed explanation-3: -The UK’s economy is dominated by services industries. These include retail, hospitality, professional services, business administration and finance. In 2021, services industries contributed £1.7 trillion in Gross Value Added (GVA) to the UK economy, 80% of total UK GVA.

Detailed explanation-4: -The UK employment rate was estimated at 75.6% in October to December 2022, 0.2 percentage points higher than the previous three-month period. The increase in employment over the latest three-month period was driven by part-time workers.