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Among developed countries, it is an important source of well-paying jobs for the middle class (e.g., engineering) to facilitate greater social mobility for successive generations on the economy. Currently, an estimated 20% of the labor force in the United States is involved in the secondary industry.
Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary and secondary sectors and more emphasis on the tertiary sector. The less developed countries exhibit the inverse pattern.
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services). Some authors add quaternary (knowledge) or even quinary (culture and research) sectors. Over time, the fraction of a society's activities within each sector changes.
Secondary sector of the economy is included in the JEL classification codes as JEL: L6 The main article for this category is Secondary sector of the economy . Subcategories
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
These easy New Year's appetizer recipes, like fondue bites and shrimp cocktail, will keep the party going all night as you ring in New Year 2025.
[1] [citation needed] It divides the economy into two parts, called the "primary" and "secondary" sectors. The distinction may also be drawn between formal/informal sectors or sectors with high/low value-added. A broader concept is that of labour market segmentation. While the word "dual" implies a division into two parallel markets ...