March 12, 2001 (The Editor’s Desk is updated each business day.)
Job losses continue in manufacturing
Large job losses continued in manufacturing, where employment declined by 94,000 in February, following a similar loss (as revised) in January.
[Chart data—TXT]
With the exception of motor vehicles, where some workers returned from temporary layoffs, employment declines in manufacturing were widespread in February. The diffusion index of employment change in manufacturing was 28.1. (An index under 50 indicates that employment is contracting in more industries than it is expanding in.)
Total nonfarm payroll employment increased by 135,000, in February. The job losses in manufacturing were offset by gains in services and most other major industry divisions.
These data are from the Current Employment
Statistics program. The total private diffusion index is calculated
from 356 industry employment series covering the entire private sector.
The manufacturing diffusion index is based on 139 industries. To derive
the indexes, each component industry is assigned a value of 0, 50, or 100,
depending on whether its employment decreased, was unchanged, or
increased. The average value is the diffusion index. For more information
on labor market developments, see news release USDL 01-57, The
Employment Situation: February 2001.
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
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