A snapshot analysis of the latest national employment and unemployment reports from the U.S. Bureau of Labor Statistics reveals a mixed bag of economic news and national labor markets.

On the employment side, the national economy has seen a net loss of 8.4 million nonfarm jobs from its last employment peak in January 2008, representing a 6.1 percent drop in total employment. Approximately half the decrease was the result of steep losses from just two sectors: construction (23% of losses) and manufacturing (26%). Notably, construction employment is still declining, but manufacturing employment has leveled off the last three months.

TIP’s thoughts:

• While construction activity is currently down, employment within the sector will (eventually) start increasing again once the overall economy rebounds and the glut of empty homes and offices fill up. This will occur due to two factors: 1) ongoing population growth and 2) renewed employment growth once the economy rebounds.

• U.S. manufacturing employment, on the other hand, is unlikely to see substantial employment increases, in spite of an improved economic climate in the future. Note that, in the chart, the number of jobs in this sector appears to only stabilize during periods of economic growth and tends to plunge when the economy goes south. While it’s true that some American manufacturers close shop permanently in the U.S. during times of recession and move production off-shore, what is more typical is the retooling of plants to maintain production with fewer workers and increased technology.

Related posts:

1. Geography of Jobs- Updated through November 2011
2. Manufacturing Grows, but Few New Hires
3. Manufacturing’s Up (Where are the jobs?)
4. The Economic Rebound: It Isn’t What You Think
5. The Geography of Jobs