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In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction .
[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 ...
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.
Labor market segmentation is the division of the labor market according to a principle such as occupation, geography and industry. [1]One type of segmentation is to define groups "with little or no crossover capability", such that members of one segment cannot easily join another segment. [2]
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.
Download as PDF; Printable version; ... Documentary television series about industry (1 C, 39 P) E. ... Pages in category "Secondary sector of the economy"
Sometimes, secondary jobs are performed by high school or college students. The majority of service sector, light manufacturing, and retail jobs are considered secondary labor. [1] Secondary market jobs are sometimes referred to as “food and filth” jobs, a reference to workers in fast food, retail, or yard work, for example. [2]
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)