Service sector has two divisions:-
1. Skilled labour 2. Unskilled labour
The people engaged in unskilled sector are not growing properly.For example:- A small scaled labourer has less provisions as compared to the person engaged in a skilled sector. He /she will have to work on national holidays whereas the persons engaged in skilled sector will have holidays on national days.He will get no money if customers do not approach him. On the contrary the people engaged in skilled sector will get money regularly . The people engaged in unskilled sector lack job safety.
Hope it helps you.

Introduction:
The service sector is a crucial part of the economy, encompassing various industries that provide intangible goods or services to customers. While most segments of the service sector are experiencing growth and increased importance, there is one particular area that is not keeping pace with the others.

Financial Services:
One part of the service sector that is not growing in importance is financial services. This sector includes activities such as banking, insurance, investment, and other financial intermediation services. While financial services are still essential for the functioning of the economy, their relative importance is declining due to various factors.

Reasons for the Decline:
1. Digitization: The advent of digital technology has transformed the financial services industry. Online banking, mobile payment apps, and robo-advisors have reduced the need for physical branches and human intermediaries. This shift towards automation and self-service has resulted in a decrease in the demand for traditional financial services.

2. Emergence of Fintech Startups: Fintech startups have disrupted the financial services industry by offering innovative and customer-centric solutions. These firms leverage technology to provide efficient and cost-effective services, attracting customers away from traditional financial institutions. As a result, the market share of traditional financial services providers is diminishing.

3. Changing Consumer Behavior: The preferences and behaviors of consumers are evolving. Many individuals, particularly the younger generation, are more inclined towards alternative financial services and solutions. Peer-to-peer lending platforms, cryptocurrency exchanges, and crowdfunding platforms are gaining popularity, reducing the reliance on traditional financial services.

4. Regulatory Challenges: The financial services sector faces stringent regulations and compliance requirements, which can hinder growth and innovation. Compliance costs and regulatory burdens often deter startups and new entrants from entering the market, limiting competition and innovation.

Example:
A suitable example of a declining part of the financial services sector is traditional brick-and-mortar banking. With the rise of online banking and mobile applications, customers are increasingly opting for digital banking services, which offer convenience and accessibility. As a result, physical branches are becoming less relevant, leading to their closure or downsizing. This trend is evident in many countries where the number of bank branches has significantly decreased in recent years.

Conclusion:
While the service sector as a whole is experiencing growth, the importance of certain segments, such as financial services, is declining. Factors such as digitization, the emergence of fintech startups, changing consumer behavior, and regulatory challenges contribute to this trend. However, it is important to note that while the relative importance may be diminishing, financial services still play a crucial role in the economy and will continue to evolve to meet the changing needs of customers.