by Nick Dobbins
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.*
Seasonally adjusted employment increased in August as the state gained 6,100 jobs (0.2 percent) for the month. The growth was spearheaded by goods producers, who added 3,600 jobs (0.8 percent), although service providers also added 2,500 (0.1 percent). Supersectors with the biggest numerical increases included Construction (up 2,500, 2.3 percent) and Professional and Business Services (up 2,500, 0.7 percent). The largest declines occurred in Financial Activities (down 800, 0.4 percent) and Leisure and Hospitality (down 600, 0.2 percent). On an annual basis employment in the state grew by 56,311 (2 percent). Supersectors with large annual increases included Government (up 17,875, 4.7 percent), Manufacturing (up 9,921, 3.2 percent), and Professional and Business Services (up 9,791, 2.8 percent). Other Services (down 1,573 or 1.3 percent) and Financial Activities (down 1,885 or 1 percent) remain the only supersectors to have shed employment over the past 12 months.
Mining and Logging
Employment in Mining and Logging was up sharply in August with the supersector adding 300 jobs (4.1 percent). This is the largest single-month seasonally adjusted increase in Mining and Logging since July 2010. For the year the supersector's employment has grown by 575 (7.8 percent).
Employment in the Construction supersector was up in August, adding 2,500 jobs (2.3 percent) and in the process erasing the loss of 1,100 jobs in July. Construction employment remains strong on an annual basis, up 7,446 (6.4 percent) over August of 2013 thanks to large increases in Heavy and Civil Engineering (up 3,759, 19.8 percent) and Specialty Trade Contractors (up 4,541, 6.3 percent).
Employment in Manufacturing expanded in August as the supersector added 800 jobs (0.3 percent), with growth coming in both Durable (up 600, 0.3 percent) and Nondurable Goods Manufacturing (200, 0.2 percent). This is the third straight month of growth for the supersector. On the year Manufacturing has added 9,921 jobs (3.2 percent) with most of those gains coming from Durable Goods (up 8,535, 4.3 percent).
Trade, Transportation, and Utilities
Employment in Trade, Transportation, and Utilities was relatively flat in August, gaining just 200 jobs (0.0 percent). Employment declines in both Retail and Wholesale Trade (down 300 or 0.1 percent and 1,000 or 0.8 percent, respectively) tempered the strong gains in Transportation, Warehousing, and Utilities, which added 1,500 jobs (1.6 percent). For the year the supersector has gained 4,360 jobs (0.8 percent), with all three major component sectors adding employment. Industries with the largest over-the-year growth included Durable Goods Merchant Wholesalers, which added 2,065 jobs (3.2 percent), largely driven by Motor Vehicle and Parts Dealers, and Transportation and Warehousing which added 1,595 jobs or 2.0 percent, primarily in Truck Transportation.
Information employment was up in August, growing by 400 jobs (0.7 percent) over July estimates. The supersector also recovered on an annual basis with August estimates helping push the over-the-year change back into the positive (up 540 or 1.0 percent) after preliminary July estimates showed the supersector briefly dipping into negative annual job growth.
Financial Activities employment was one of a small handful of supersectors showing adjusted job losses in August, down 800 jobs or 0.4 percent. Losses of 1,000 (0.7 percent) in Finance and Insurance outweighed a gain of 200 jobs (0.5 percent) in Real Estate and Rental and Leasing. Financial Activities continues to lose jobs on an over-the-year basis as well, down 1,885 (1.0 percent) from August 2013 estimates. The loss is largely the product of a steep decline in employment in Credit Intermediation and Related Industries which has shed 2,054 jobs (3.7 percent) for the year.
Professional and Business Services
Employment in Professional and Business Services was strong in August, adding 2,500 jobs (0.7 percent) over July estimates. All three component sectors saw monthly growth, with the largest coming in Administrative and Support and Waste Management and Remediation services, which added 2,100 jobs (1.6 percent). Growth has also been strong on an annual basis, with the supersector adding 9,791 jobs (2.8 percent) over the past 12 months. Annual gains have been distributed among the component sectors, with each one growing by at least 2.0 percent.
Educational and Health Services
Employment in Educational and Health Services grew very slightly in August, adding 100 jobs (0.0 percent) following steep declines in the supersector's July estimates. Neither component sector moved much, as Educational Services shed 200 jobs (0.3 percent) while Health Care and Social Assistance added 300 (0.1 percent). Annually, Educational and Health Services has added 6,257 jobs (1.3 percent) with gains of 6,540 (1.5 percent) in Health Care and Social Assistance more than compensating for the loss of 283 jobs (0.5 percent) in Educational Services.
Leisure and Hospitality
Employment in Leisure and Hospitality was down in August, losing 600 jobs (0.2 percent) on the back of an equal loss in Accommodation and Food Service (down 0.3 percent). Arts, Entertainment, and Recreation employment was flat for the month. For the year the supersector added 3,004 jobs (1.1 percent), with both component sectors contributing to the gain. While Full-Service Restaurants have lost 3,519 jobs (4.0 percent), Limited-Service Eating Places have grown by 2,900 (3.6 percent).
Employment in Other Services grew slightly in August, adding 300 jobs (0.3 percent) for the month. Annually, the supersector has lost 1,573 jobs (1.3 percent), with declines in all three component industries. Religious, Grantmaking, Civic, Professional, and Similar Organizations has seen the largest numerical and proportional over-the-year drop, losing 1,074 jobs (1.5 percent).
Government employers added 400 jobs (0.1 percent) in August. Federal Government lost 100 jobs (0.1 percent) while Local Government added 500 (0.2 percent), and State Government employment was unchanged. Since August 2013, Government has added 17,875 jobs (4.7 percent) with the gains coming almost entirely from Local Government which added 19,774 jobs or 7.8 percent as State Government employment declined (down 1,902, 2.1 percent), and Federal Government employment has been almost completely static, adding three total jobs (0.0 percent) over the past year.
|Seasonally Adjusted Nonfarm Employment (in thousands)
|Mining and Logging
|Trade, Transportation, and Utilities
|Professional and Business Services
|Educational and Health services
|Leisure and Hospitality
|Source: Department of Employment and Economic Development, Current Employment Statistics, 2014.
* Over-the-year data are not seasonally adjusted because of small changes in seasonal adjustment factors from year to year. Also, there is no seasonality in over-the-year changes.