Hess Associates

Job Losses and Gains 2013

A recent Vault study taken from the US Bureau of Labor Statistics
found the following 20 industries led the gains in employment
Especially the sectors people like to spend money on – entertainment/food

RANK INDUSTRY
1 Food services and drinking places
2 Administrative and support services
3 Arts, entertainment, and recreation
4 Employment services
5 Amusements, gambling, and recreation
6 Health care
7 Temporary help services
9 Professional and technical services
10 Services to buildings and dwellings
11 Local government, excluding education
12 Residential specialty trade contractors
13 Accommodation
14 Building material and garden supply stores
15 Motor vehicle and parts dealers
16 Home health care services
17 Social assistance
18 Food and beverage stores
19 Computer systems design and related services
20 Management and technical consulting services


And linked to that, the following industries led the losses in employment
Due in part to cuts in government spending

RANK INDUSTRY
1 Local government education
2 Clothing / accessories stores
3 Department stores
4 General merchandise stores
5 State government education
7 Educational services (PRIVATE)
8 Federal, no Postal Service
9 Commercial banking
10 Depository credit intermediation
11 Nonstore retailers
12 Credit intermediation/related
13 Motion picture /sound recording
14 Miscellaneous store retailers
15 Nursing care facilities
16 Printing/related support activities
17 U.S. Postal Service
18 Furniture/home furnishings stores
19 Child day care services
20 Electronics and appliance stores

The net effect being that the US reported a 1.2 percentage point decline in the unemployment rate over the course of 2013. (or people withdrawing from the labor force)

http://www.presstv.ir/detail/2014/01/10/344839/us-job-growth-weakest-in-three-years/

[In the US, the unemployment rate is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.]

——————————————————————————————————-
In Canada, job growth was up 1%, the worst in a decade, representing fewer than 175,000 net jobs in 2013,

http://www.huffingtonpost.ca/2013/12/11/job-market-canada-2013_n_4421034.html

while the Unemployment Rate in Canada increased to 7.20 percent in December of 2013 from 6.90 percent in November of 2012. These differences could reflect the dichotomy between jobs gained and people deciding to re-enter the labour force and be counted as unemployed. So the unemployment rate could rise while more people are working.

http://www.tradingeconomics.com/canada/unemployment-rate

[The unemployment rate in Canada also measures the number of people actively looking for a job as a percentage of the labour force].

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