U.S. Service Industries Sustained Pace of Expansion

The transcript discusses the results of the midterm elections, highlighting Republican victories in the Senate, House, and governor races. It mentions Mitch McConnell's likely role as Senate Majority Leader and the potential for bipartisan cooperation with President Obama. Paul Ryan emphasizes working with the President on agreeable bills while maintaining party principles. The labor market shows positive signs, with an increase in jobs and service industry growth, despite a slight dip in the ISM non-manufacturing index.

What was the significant outcome for Republicans in the Senate during the midterm elections?

• They gained more than six seats.

• They lost control of the Senate.

• They maintained the same number of seats.

• They gained control of the House.

Who is expected to become the next Senate Majority Leader following the midterm elections?

• Paul Ryan

• Barack Obama

• Mitch McConnell

• Nancy Pelosi

What approach does Paul Ryan suggest Republicans should take when working with President Obama?

• Focus only on foreign policy issues.

• Agree with all of the President's proposals.

• Work on bills that align with Republican principles.

• Avoid working with the President entirely.

How did the labor market perform in October according to the transcript?

• It experienced a significant decline in jobs.

• It remained stagnant with no job growth.

• It added fewer jobs than the previous month.

• It added more jobs than the previous month.

What percentage of the overall economy do service industries constitute?

• 90%

• 70%

• 50%

• 100%