Current Employment Statistics Highlights April 2008

Bureau of Labor Statistics Current Employment Statistics Highlights April 2008 Bureau of Labor Statistics May 2, 2008 Employment in total nonfarm Over-the-month change, 2007-08 240 200 160 120 80 46 40 0 -40 -80 -120 7 8 Mar07 No v -07 Mar08 Dec -0 7 Jan-0 7 Oc t07 Jan-0 8 -0 7 Jul- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 May Apr0 8 Seasonally adjusted in thousands 177 126 162 140 107 57 74 81 60 41 25 -20 -76 -83 -81 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. B-3. Employment in total nonfarm Over-the-year percent changes, 2007-08 1.8 1.5 1.3 1.2 1.2 1.2 1.1 1.0 0.9 1.0 1.0 0.9 0.8 0.7 0.6 0.6 0.4 0.3 0.3 1.3 1.3 1.5 0.0 7 8 Mar07 No v -07 Mar08 Dec -0 7 Jan-0 7 Oc t07 Jan-0 8 -0 7 Jul- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 May Apr0 8 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. • • In April, employment in total nonfarm payrolls was little changed (-20,000). This comes after a 3-month decline totaling 240,000 jobs. The over-the-year percentage change in total nonfarm payroll employment continues to slow. In fact, the rate has declined over each of the last 6 months. Employment in total nonfarm Over-the-month change, April 2008 Seasonally adjusted in thousands Natural resources and mining Construction Manufacturing Wholesale trade Retail trade Transportation and warehousing Utilities Information Financial activities Professional and business services Education and health services Leisure and hospitality Other services Government -70 -60 -50 -40 -30 -20 -10 0 -3 -61 -46 -11 -27 1 0 -2 3 39 52 18 7 9 10 20 30 40 50 60 Total nonfarm: -20 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Data are preliminary. • • The goods-producing sector dropped 110,000 jobs in April led by jobs losses in construction and manufacturing. The service-providing sector gained 90,000 jobs in April. Jobs gains were led by education and health services and professional and business services. Retail trade experienced the only significant job loss among service providing industries. Index of total private aggregate weekly hours 115 110 105 100 95 90 85 Jan-0 5 Jan-9 7 Jan-9 8 Jan-9 9 Jan-0 1 Jan-0 0 Jan-0 2 Jan-0 3 Jan-0 4 Jan-0 6 Jan-0 7 Jan-0 8 Seasonally adjusted, 2002=100 April 2008 Level: 107.2 Percent change: -0.4 1997-2008 115 110 105 100 95 90 85 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Notes: Shaded area denotes recession. Most recent two months of data are preliminary. Aggregate weekly hours are the product of average weekly hours and production and nonsupervisory workers. • In April, the average weekly hours of production and nonsupervisory workers on private nonfarm payrolls fell by 0.1 hour to 33.7. The workweek has fluctuated no more than 0.1 hour from 33.8 hours, seasonally adjusted, since November 2004. The index of total private aggregate weekly hours fell by 0.4 percent in April. Index of total private aggregate weekly payrolls 140 130 120 110 100 90 80 70 Jan-0 5 Jan-9 7 Jan-9 8 Jan-9 9 Jan-0 1 Jan-0 0 Jan-0 2 Jan-0 3 Jan-0 4 Jan-0 6 Jan-0 7 Jan-0 8 Seasonally adjusted, 2002=100 April 2008 Level: 128.1 Percent change: -0.2 1997-2008 140 130 120 110 100 90 80 70 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Notes: Shaded area denotes recession. Most recent two months of data are preliminary. Aggregate weekly payrolls are the product of average hourly earnings, average weekly hours, and production and nonsupervisory workers. • In April, average hourly earnings for production and nonsupervisory workers on private nonfarm payrolls experienced the smallest change since May 2006, edging up by 1 cent to $17.88. Over the past 12 months, average hourly earnings have increased by 3.4 percent. The index of total private aggregate weekly payrolls fell 0.2 percent in April. The index has grown by 3.8 percent over the past 12 months. • Employment in construction Over-the-month change Seasonally adjusted in thousands 12 8 4 0 -4 -8 -12 -16 -20 -24 -28 -32 Residential building Nonresidential building Heavy and civil engineering Residential specialty trades Nonresidential specialty trades -22.4 -10.7 -8.6 -15.4 -4.9 -2.3 -2.7 -7.7 -0.8 April 2008 Prior 12-mo. avg. -15.7 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Data are preliminary. B-11. Employment in housing-related industries Over-the-month changes, 2007-08 20 0 -20 -40 -60 -80 -100 -120 7 8 Mar07 No v -07 Mar08 Dec -0 7 Jan-0 7 Oc t07 Jan-0 8 -0 7 Jul- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 May Apr0 8 Seasonally adjusted in thousands Residential construction Housing-related, excluding construction Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. • Employment in construction declined by 61,000 in April, as losses were spread between the residential and nonresidential components. Since peaking in September 2006, employment in the industry has fallen by 457,000. The downturn in the housing market has affected employment in other industries besides construction, such as home centers and real estate credit. • Employment in manufacturing 1997-2008 19,000 Seasonally adjusted in thousands 19,000 April 2008 Level: 13,596 Change: -46 18,000 18,000 17,000 17,000 16,000 16,000 15,000 15,000 14,000 14,000 13,000 Jan-9 7 Jan-9 8 Jan-9 9 Jan-0 0 Jan-0 1 Jan-0 2 Jan-0 3 Jan-0 4 Jan-0 5 Jan-0 6 Jan-0 7 Jan-0 8 13,000 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Notes: Shaded area denotes recession. Most recent two months of data are preliminary. Over-the-month change, 2007-08 10 Seasonally adjusted in thousands Employment in fabricated metal products 5 1 0 0 1 4 1 2 3 -2 -5 -2 -1 -2 -3 -2 -4 -2 -10 -11 -15 7 8 Mar07 No v -07 Mar08 Dec -0 7 Jan-0 7 Oc t07 Jan-0 8 -0 7 Jul- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 May Apr0 8 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. • Manufacturing employment decreased by 46,000 in April and by 326,000 over the past 12 months. Over the month, the manufacturing workweek declined by 0.3 hour to 40.9 hours and overtime fell by 0.1 hour to 3.9 hours. Nearly all of the job losses occurred in durable goods manufacturing. Losses occurred in motor vehicles and parts (-17,000) and in fabricated metal products (-11,000). Declines also occurred in furniture and related products (-4,000) and in semiconductors and electronic components (-3,000). • Employment in wholesale trade Over-the-month change, 2007-08 25 20 16 15 10 5 0 -5 -10 -15 7 8 Mar07 No v -07 Mar08 Dec -0 7 Jan-0 7 Oc t07 Jan-0 8 -0 7 Jul- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 May Apr0 8 Seasonally adjusted in thousands 18 13 14 12 11 9 6 3 5 -2 -2 -6 -10 -4 -11 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. Employment in retail trade Over-the-month change, 2007-08 80 60 40 20 0 -20 -40 -60 7 8 Mar07 No v -07 Mar08 Dec -0 7 Jan-0 7 Oc t07 Jan-0 8 -0 7 Jul- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 May Apr0 8 Seasonally adjusted in thousands 60 44 35 13 13 5 13 -16 -33 -15 -18 -16 -25 -43 -19 -27 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. • Wholesale trade employment continued to edge down in April. Since November 2007, employment in this industry has declined by an average of 6,000 per month, contrasting with the average monthly job growth of 11,000 over the prior 12month period. Employment in retail trade continued to trend down, with a decrease of 27,000 in April. Since reaching a peak in March 2007, the industry has shed 137,000 jobs. Over the month, job losses continued in building material and garden supply stores (-12,000) and in department stores (-8,000). • Over-the-month change, 2007-08 100 80 60 40 24 20 0 -20 -40 -60 7 Employment in professional and business services Seasonally adjusted in thousands 70 52 28 35 23 21 21 9 -3 -28 -44 8 Mar07 No v -07 Mar08 Dec -0 7 Jan -0 7 Oc t07 Jan-0 8 -0 7 Ju l- 0 7 Aug-0 7 S ep-0 7 Jun-0 7 7 Feb-0 Feb-0 Apr0 Apr0 8 39 25 2 -30 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. Employment in selected professional and business services Over-the-month change, April 2008 Professional and technical Professional and technical Accounting and bookkeeping Architectural and engineering Computer systems design Management and technical consulting Management of companies Management of companies Administrative and waste services Administrative and waste services Employment services Services to buildings -10 0 -0.3 5.6 10 20 -0.8 13.9 Professional and business services: +39 30 40 6.2 1.1 10.2 9.1 Seasonally adjusted in thousands 26.8 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Data are preliminary. • • In April, professional and business services gained 39,000 positions after shedding 102,000 jobs during the first quarter of 2008. Professional and technical services employment rose by 27,000 in April. Computer systems design added 10,000 jobs over the month and employment in accounting and bookkeeping services edged up by 9,000. Employment in employment services was little changed in April, though temporary help services jobs continued to trend down. • May Employment in health care Over-the-month change, April 2008 Seasonally adjusted in thousands Ambulatory health care Ambulatory health care services* services* Offices of physicians 2 0.6 6.7 3.7 9.4 10.3 5.8 3.9 -5 0 5 10 15 20 25 7.6 5.5 Health care: April 2008:+36.9 Prior 12-mo. avg.: +30.7 21.7 16.5 Outpatient care centers Home health care services Hospitals Hospitals Nursing Nursing and residential and residential care facilities care facilities Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Data are preliminary. * Includes additional component industries not shown separately. • Employment in health care continued to increase in April with a gain of 37,000. This industry has added 365,000 over the past 12 months. In April, there were gains of 22,000 in ambulatory health care services and of 9,000 in hospitals. Over-the-month change, 2007-08 50 Seasonally adjusted in thousands 41 40 34 30 21 17 32 26 20 18 Employment in food services and drinking places 31 33 20 19 13 13 10 7 18 10 0 Feb 07 Jan-0 7 Jan-0 8 Feb -0 8 M ar07 No v -07 M ar08 Dec -0 7 -07 Oc t07 Jul- 0 7 Jun07 Aug07 07 7 Ap r0 May S epAp r0 8 Source: Bureau of Labor Statistics, Current Employment Statistics survey, May 2, 2008. Note: Most recent two months of data are preliminary. • Employment continued to trend upward in food services in April (18,000), although job gains have slowed over the past 6 months. Since October 2007, food services employment has grown by an average of 13,000 per month; this compares to the average increase of 28,000 jobs per month for the preceding 12 months.