The Jobs Recovery By Industry

Tonight we look at the jobs recovery by various industries.

After 25 months of expansion in the U.S. labor market,  41 percent of the total amount of jobs lost during Great Recession have been recovered.  The private sector has created 4.1 million jobs or about 46 percent of the jobs it shed during the recession.

The table below breaks down how each industry is faring.  The Leisure & Hospitality and Mining industry have recovered all the jobs losses, and then some.  The recovery has produced 1.25 million Professional Service jobs, almost 83 percent of those lost during the recession.

Manufacturing has recovered only 21 percent of jobs losses, financial services 11 percent, retail and wholesale trade around 25 percent,  with construction faring the worst in the private sector, recovering only 1.1 percent of the 1.95 million job lost during the housing bust led recession.   No wonder policymakers are so anxious about a housing market recovery.

Government is in a budget constrained counter-cyclical hiring mode shedding 474k jobs during this  recovery after creating 95K jobs during the recession.   Most of the job losses are at the state and local government level.

More later.   Stay tuned.

(click here if table and chart are not observable)

This entry was posted in Economics, Employment and tagged , , . Bookmark the permalink.

4 Responses to The Jobs Recovery By Industry

  1. Pingback: Thursday 7atSeven: not so normalized earnings | Abnormal Returns

  2. Pingback: America’s Minimum Wage Recovery | The Big Picture

  3. Collette says:

    You must spent a lot of time writing posts on your website, you
    can save a lot of work, just type in gogle:
    treoughan’s rewriter

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.