In November 2024, the service sector in the United States businesses in the Fifth rose. Revenue measures increased to a score of 9, the highest since March 2022, up from 3 in October. Demand also increased, with its index moving up to 14 from 3.
Local business conditions have improved, with their index increasing to 10, recovering from a previous low of -4. This optimism extends to future business conditions, which rose to 43 from 32. Although the employment situation slightly worsened, dropping to -1, companies still raise wages.
The number of skilled workers available remains steady, with a slight drop in the index to 1. Businesses plan to hire more and expect little change in the ease of finding qualified workers in the next half year.
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Price trends showed a small rise in costs and charges, but companies foresee a slight slowdown in price increases next year.