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 were the significant outcomes of the midterm elections mentioned in the text?

Who is likely to become the next Senate Majority Leader according to the text?

What approach does Congressman Paul Ryan suggest regarding working with the President?

What does the October jobs report indicate about the labor market?

How do service industries contribute to the overall economy as mentioned in the text?