Sunday, September 18, 2011

BLS Says Jobs Up, "Employment" Down

New Mexico didn’t stand out in the August jobs report from the Bureau of Labor Statistics, released Friday, September 16. The labor force, on a seasonally adjusted basis, shrank by another 6,500, bringing it to 929,700, down 24,000 from August 2010. Employment, 889,800 a year ago, was 868,300 in August 2011. The number of officially unemployed—people who say they’re looking for work—dropped to 61,400, but that’s only because so many have given up and bagged the whole job game. Our 1.9 percentage point drop in the unemployment was the nation’s largest. It would be nice if that meant improvement in the economy. Total wage jobs (different from “employment”), still using seasonally adjusted numbers, was 805,500 in August, increased 3,100 (not quite four tenths of one percent) from July and 7,400 from August 2010 (approaching one percent). Among the sectors, construction spent the summer at around 40,000 jobs with manufacturing at 29,000. At least they’re not dropping. Trade, together with transportation and utilities for some reason, gained 5,000 (138,600) during the August-to-August year. Finance gained 2,300. Professional and business services, with 93,900 employees, remained in the summer range, but still is down 5,500 for the year. Leisure and hospitality, which sort of means tourism, has spent the year at about 83,000 wage jobs. Government, with 194,600 jobs, is down 1,300 for the year. Education and heath services (127,200 jobs) was steady during the summer and is up 7,600 since August 2010.

1 comment:

The Tame Lion said...

So true! Vigorously nodding my head in agreement!