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Signs Point To No Or Slow Growth In Global Job Markets In 2013
Some Optimism For U.S. Job Growth
There is some room for muted optimism for U.S. job market.
Unemployment line in California.
Employment in non-manufacturing businesses grew in September for the second consecutive month. ISM’s Non-Manufacturing Employment Index was at 51.1%.
This reflects a decrease of 2.7 percentage points when compared to the 53.8% registered in August. Eight industries reported increased employment, seven industries reported decreased employment, and three industries reported unchanged employment compared to August.
Comments from respondents include: “Trying to do more with [fewer] folks” and “Continued expansion of workforce.”
The industries reporting an increase in employment in September, listed in order: construction; transportation & warehousing; retail trade; finance & insurance; public administration; management of companies & support services; health care & social assistance; and accommodation & food services.
Industries reporting a reduction in employment in September were: arts, entertainment & recreation; real estate, rental & leasing; other services; mining; professional, scientific & technical services; information; and wholesale trade.
The ISM’s Employment Index for manufacturing was 54.7% in September, which is 3.1 percentage points higher than the 51.6% reported in August.
This is the 36th consecutive month of growth in the Employment Index.
An Employment Index above 50.5%, over time, is generally consistent with Bureau of Labor Statistics data on manufacturing employment.
Of the 18 manufacturing industries, 11 reported growth in employment in September.
Manufacturing industries reporting growth were: textile mills; printing & related support activities; wood products; food, beverage & tobacco products; paper products; petroleum & coal products; primary metals; furniture & related products; fabricated metal products; miscellaneous manufacturing; and machinery.
The six industries reporting a decrease in employment in September were: plastics & rubber products; electrical equipment, appliances & components; nonmetallic mineral products; transportation equipment; computer & electronic products; and apparel, leather & allied products.
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