August 8, 2011 in Snips
Amid the turmoil surrounding congressional negotiations over the debt ceiling, what has received less attention is that the United States created 117,000 jobs between June and July. Which industries were those jobs created in?
#6 – Construction
Jobs Created: 8,000 Average Hours per Week: 38.3 Average Weekly Earnings: $971.67
Almost all of the growth in construction came from specialty trade contractors. These are businesses that take on individual assignments within a larger construction site and are rarely responsible for an entire development. Companies that handle individual projects such as rewiring homes would also come under this category. With new housing starts predicted to decline even further from their current historic lows, it’s not surprising that all of this growth came from non-residential construction.
#5 – Mining and Logging
Jobs Created: 10,000 Average Hours per Week: 44.2 Average Weekly Earnings: $1,236.27
Actual extraction of raw minerals did not contribute to jobs outside of the oil and gas sector. The majority of the jobs came from support activities for mining. This includes people who explore potential mining sites and prepare them for future projects, suggesting that there might be an increase in the number of miners hired in the future.
#4 – Leisure and Hospitality
Jobs Created: 17,000 Average Hours per Week: 25.8 Average Weekly Earnings: $341.08
While the pay is low, the industry seems to be booming with jobs added across the board. Despite the drop in consumer spending, companies added 7,400 employees who were involved in amusements, gambling, and recreation to their payroll. There was also a 5,500 surge in those involved in performing arts and spectator sports (these people were no doubt relieved to see the end of the NFL lockout).Perhaps due to the increasing number of tourists visiting the United States, business added 3,000 employees in the accommodation and food services field. Other tourist related sectors such as museums and zoos also saw slight increases in the numbers of people employed.
#3 – Durable Goods Manufacturing
Jobs Created: 23,000 Average Hours per Week: 40.6 Average Weekly Earnings: $1028.40
The automobile industry was responsible for more than half of the growth in the increase in employment in durable goods manufacturing. The bureau of labour statistics notes that this is primarily because the industry laid off fewer people than was expected for July. The manufacturing of fabricated products, semiconductors, electronic components, and furniture related products also added significant numbers of jobs to the economy.
#2 – Retail Trade
Jobs Created: 25,900 Average Hours per Week: 31.4 Average Weekly Earnings: $500.83
Stores that sold health care products accoutned for more than a third of the increase in jobs created by the retail industry. In keeping with the increase in employment by the automobile manufacturing industry, motor vehicle and parts dealers created 5,000 jobs. Merchandise stores and miscellaneous retailers together added almost 10,000 jobs to the economy while stores that sold clothing and other fashion accessories hired another 3,400 employees
#1 – Professional and Business Services
Jobs Created: 34,000 Average Hours per Week: 35.7 Average Weekly Earnings: $1,000.31
The biggest contributors of jobs to the United States’ economy were those who are involved in providing professional services. 12,500 employees were added to the payrolls for the purpose of providing administrative support services. Those who offer management and technical consulting adding 6,100 to their staff while legal service providers hired 4,000 additional people. 3,1000 business managers were also hired in the month of July.
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