Position statement
The U.S. has the world's largest economy and the highest per-capita GDP, thanks to the dominant services sector. Services are the glue that holds the modern economy together. Telecommunication networks, computer networks, distribution networks, and other technology-rich inputs underpin a changing economic landscape where services expand opportunities and increase productivity across other sectors of the economy and the globe. The service sector represents the largest portion of U.S. employment and economic output – accounting for 93 million jobs and nearly 80 percent of U.S. private sector GDP – approximately $8.5 trillion. U.S. service exports reached $414 billion in 2006, with a surplus of $73 billion.
The jobs created by the service sector are among the best-paying and most highly skilled. Service jobs paid an average of $51,045 annually in 2005, and in many service industries, including professional services, management services, finance, insurance and others, the average compensation levels are much higher. Allowing freer trade in services, one of IBM's top market access priorities, will accrue even more benefits for the U.S. economy.
