Employment in Major Sectors, Year over Year, 2012-2013
In 2013 certain sectors of the American economy have seen substantial growth in employment, whereas others have actually reduced their workforces. Mining and Logging and Professional and Business Services hold the top spot for employment growth by percentage in 2013 from 2012, while Nondurable Goods and Government have decreased their number of employees.
To study the employment changes in the past year in greater detail, we have divided year-over-year employment changes by major sectors. We have further mapped this data by state to see which geographical areas were most affected by workforce population changes.
Year-over-Year Change in Professional and Business Services, 2012 –2013
Professional and business services employment continued an upward trend, increasing by 32,000 workers in September 2013. Temporary help services had an increase of 228,000 workers over the past 12 months, with 20,000 workers added in September 2013. The states with the most significant growth were California and Texas.
Year-over-Year Change in Manufacturing, 2012 – 2013
Over the last 12 months, employment in Manufacturing has remained stable. Durable goods, supplemented by metal products and machinery, added 64,000 jobs, while non-durable goods employment decreased by 26,000 employees. Michigan was the only state to see large employment growth in the sector, despite in prior years ranking in the top two states for job losses.
Year-Over-Year Change in Construction, 2012 - 2013
According to data released by the Associated General Contractors of America, construction employment in the last year expanded in 194 metro areas and declined in 88. Alaska, Wyoming, Mississippi, and Louisiana added the most jobs in the sector by percentage, and the largest job losses were in Indiana. In September 2013, employment in construction increased by 20,000, which helped boost the low monthly average of the past six months.
Year-over-Year Change in Financial Activities, 2012 – 2013
Looking at the past 60 years, Financial services as an industry has expanded its share of the economy from 2.5 percent to 8.5 percent of the GDP. Since 2009, Richmond, Virginia, has had a 12 percent growth in financial sector employment. New York, home to the largest banking sector, has seen financial employment drop by 7.4 percent since 2007. With firms looking to cut costs, they are focusing on moving business functions to less expensive locations, thus resulting in less employment in traditional financial centers. In September 2013, financial companies lost 7,200 jobs following a reduction of 5,900 jobs in August.
Year-over-Year Change in Government, 2012 – 2013
In September 2013, the federal government employed 2,721,000 full-time workers - it’s lowest since 1966. The federal government currently employs (in civilian jobs) 2 percent of the employed population in the United States. Members of the armed forces number around 1.4 million. Over the past 12 months, federal government employment has decreased by 94,000. The federal government is continuing to shrink, while state government jobs are growing slowly. State and local jobs are up 0.02 percent with 2,000 jobs in the past 12 months.