Which sectors provided the most job growth since January 2007: A 10-year look

Source: Bureau of Labor Statistics, CES Series

Last Friday, the Bureau of Labor Statistics reported the U.S. economy created 156,000 jobs in August 2017, a number below economists' consensus estimates. The unemployment rate "was little unchanged" according to the BLS, but actually ticked upward to 4.4 percent. Major job gains emerged in manufacturing, construction, professional and technical services, health care and mining. How have these sectors fared since the peak before the Great Recession, which began in December 2007 and ended in June 2009? How does Friday's snapshot relate to longer term trends? 

The decline in manufacturing jobs in the United States has trended downward over the decades. Few workers are producing more output. The interesting takeaway from this chart is the decline in construction jobs. Despite the uptick in the economy, construction jobs are down 800,000 since January 2007.  The high-paying education and health services and professional the business services added more than two-thirds of the decade long gain to total non-farm employment. Less impressive is the gain in the generally lower paid professions of leisure and hospitality which added 2.6 million since January 2007. 

Massachusetts adds 3,900 jobs in April 2017 as unemployment rate ticks up to 3.9 percent

OVERVIEW

• In its preliminary estimates, the Bureau of Labor Statistics suggests that Massachusetts added 3,900 jobs in April. The job gains over the previous month (March 2017) occurred in Professional, Scientific, and Business Services; Education and Health Services; Trade, Transportation, and Utilities; Other Services; Information; and Manufacturing.
• The state’s labor force participation rate increased to 66.5 percent from 65.9 percent with an increase of 33,000 entrants into the job market.
• Government lost 1,000 jobs in April but since last year the sector has added 7,700 jobs or 1.7 percent.

ANALYSIS 

• More workers are coming off the sidelines to enter the job market. The state’s unemployment rate for April 2017 increased only because the labor force saw an increase of 33,000 workers or 1.5 percent since last year. This represents a healthier view of full employment. The unemployment rate of 3.9 percent is still lower than the national rate of 4.4 percent. Since April 2016, the Administrative & Support, Waste Management, and Remediation sector added 7,000 jobs, the percentage leader at 3.9 percent. The Health Care and Social Assistance subsector continues to grow adding 18,300 jobs — at a 3.0 percent clip. Education Services has remained flat adding zero jobs while the Arts, Entertainment and Recreation subsector lost 1,300 jobs. Local government remains a strong jobs generator with 5,800 jobs. Despite well-known struggles, the Retail sector added 4,100 since last April.

A brief analysis of last week's Massachusetts jobs report

My analysis of last week's MA Jobs Number and URate.