Question

According to the Bureau of Labor Statistics​ (BLS) high-paying jobs in health care and jobs in​ leisure, hospitality, and education will expand quickly over the next five years. How does the BLS expect what and for whom goods and services are produced to change in the next five​ years?

Answer 1

According to analyzes by the Bureau of Labor Statistics, there will be expansion of complex goods and services, which require greater education in their production and marketing. Thus, these services tend to cater to those people who have the resources to pay for it. This means that the rapid expansion of services expected over the next five years will focus on the richest. Healthcare, education and leisure firms will tend to produce more personalized services to increase their profitability. This is basically the market logic of the economy.