Saturday, December 09, 2006

Jobs Numbers--Behind the Noise

Yah, well, "jobs are up."

Unless you're in manufacturing or construction.

Retail added 20,000 jobs; "education and health services" added 41,000; "leisure and hospitality" added 31,000; "government" added 18,000. "Professional services" added 43,000. (Think H&R Block.)

Construction was negative 29,000 (the housing slump--and it will get worse) and manufacturing was negative 15,000.

From Q2 to Q3, Manufacturing and Construction lost 500,000 jobs. Education/Health, Leisure/Hospitality, and Government categories added 260,000 in the same period.

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