The good news is the Metropolitan Statistical Area (MSA) didn’t see any overall job loss. The bad news is the drop in local, state, and federal jobs in our region.
Overall, employment was flat at 253,700, although some sectors saw large job losses.
The biggest job losses were seen in the government sector. Local government shed 425 workers in August. State employment fell by almost 300, and the federal sector lost 100 jobs. Even private education and health services lost 225 jobs. Mining, logging, and construction (MLC) and manufacturing both shed about 200 jobs.
The only sector to meaningfully add jobs was retail, up 100. Retail employment now stands at 27,800, the highest level since October last year.
The momentum graph I introduced a few months ago has changed somewhat. In June, most industries were in the top right segment, indicating growth over the month and year. In August, most industries are in the two left segments, indicating weakening employment trends.
These trends contrast with the national jobs report for August, which was particularly strong. Nationwide, employment rose by 162,000 compared to the average monthly gain of 31,000 over the prior 12 months. Nationally, local government education added jobs as did food services and drinking places. Manufacturing and healthcare also added jobs at the national level.
It may be too much to read into one month’s data, but only five industry sectors have year-on-year growth: State government, private education and health services, manufacturing, leisure and hospitality, and other services.
