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Construction, manufacturing jobs lost in October

Friday, November 6, 2009

Construction employment saw a recent drop, which continues a trend.
Construction employment saw a recent drop, which continues a trend.

People who operate construction equipment for a living continue to see job losses according to the latest numbers from the government.

The Bureau of Labor Statistics reported that 62,000 construction jobs were lost in October. The bureau also reported that the sector saw an average job loss of 188,000 a month for the last three months.

Though large, that is an improvement when compared to the three months prior to that, when average monthly job losses hit 357,000. Since the recession began in December of 2007, 1.6 million construction jobs have been lost.

Manufacturing also saw a decrease in jobs. For October, that sector lost 61,000, bringing its total to 2.1 million since the beginning of the recession. However, a recent report from the Institute for Supply Management noted that manufacturing growth is increasing. Its index went up from 52.6 in September to 55.7 in October. Any number above 50 indicates growth in the industry.

Overall, the country's unemployment rate jumped to 10.2 percent in October after being at 9.8 percent the month before.

"We have known for some time now that the unemployment rate could reach this level, and it is an unacceptable situation," Secretary of Labor Hilda Solis said. "We are working hard to reverse these circumstances for the millions of Americans who need and want work but cannot find it."
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