- by New Deal democratFriday’s December jobs report saw the first decline in employment since the lockdowns of March and April. Let’s take a closer look.As I pointed out Friday, the losses were concentrated in the food and dining (restaurant) and amusement and recreation sectors, both of which are shown below normalized to 100 as of February:The two sectors are down 20% and 30% from their February peaks.By contrast, the leading job sectors of manufacturing, residential and overall construction, and temporary help positions all continued with gains, and are close to if not completely recovered from their pandemic losses. Below I show these YoY in two time periods for easier comparison (note two of the series did not begin until the 1980s).1955-1982:1983 - present:This is one of the many
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- by New Deal democrat
Friday’s December jobs report saw the first decline in employment since the lockdowns of March and April. Let’s take a closer look.