December 8, 2006 (Jobs Byte)
Employment Growth Steady, but Construction Jobs Plummet
Jobs Byte by Dean Baker
For Immediate Release: December 8, 2006
Contact: Dan Beeton, 202-293-5380 x 104
establishment survey showed the economy adding 132,000 jobs in November,
bringing average growth over the last three months to 138,000. Private sector
employment growth has averaged 104,000 over this period, as the government
sector has been adding 34,000 jobs per month.
overall employment picture in this report is mixed. Manufacturing lost 15,000
jobs in November and is now down 95,000 jobs (all production workers) from its
peak in June. The job decline is compounded by a fall in the average workweek.
As a result, hours in manufacturing have been declining at a 4.6 percent annual
rate over the last 4 months.
was also hard hit, losing 29,000 jobs in November, after losing 24,000 jobs in
October. This is the largest 2-month decline since the sector lost 70,000 jobs
in April-May of 2002. All sectors of
construction employment are now shedding jobs, although the residential sector
has been most affected, losing 110,000 jobs since its February peak.