US employment market data in detail: Production sector is the clear loser – Christmas helps retailers

The US employment data was released earlier with 145,000 new jobs created in Decembe. This was weaker than expected (160,000 jobs). In terms of the total of 145,000 new jobs, there were 6,000 new jobs in the state. Thus, there are 139,000 new jobs created in the US private sector. A total of 1,000 jobs were cut in the manufacturing sector! In the mining sub-sector, the change was exactly -9,000, with the oil and gas sub-sector actually increasing by 2,500 jobs. The construction sector created 20,000 new jobs. The industrial sector shed 12,000 jobs. The metal subsector alone lost 7,200 jobs in December.

US-Arbeitsmarktdaten im Detail - Verarbeitendes Gewerbe

That leaves 140,000 new jobs in the US services sector in December. 41,200 of these jobs were created in retail. And of those, 33,200 new jobs were created in apparel stores! Ohhh miracle, in the consumption month of December the stores have massive demand for employees… will there be a big minus in clothing stores in January? 9,300 jobs were cut in courier services. It’s funny with the actually gigantic demand, when the Amazon orders should have been dramatically higher in December?

The sector “professional and business services” was rather slow in December with only 10,000 new jobs. “Education and care also showed relatively weak growth with 36,000 new jobs. The “leisure and hospitality” sector delivered 40,000 new jobs, which is quite respectable for this largest of all job machines in the US.

Please follow and like us:

Be the first to comment

Leave a Reply

Your email address will not be published.


*