Sector changes in May

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Private sector hiring was a bit disappointing last month, as only half of the nation’s 10 major industry groups reported employment increases. In all, the construction, government, information, leisure and hospitality, and professional and business services industries recorded job losses in May.

Although sector job growth was not as strong as hoped this month, the following industries still recorded employment increases throughout May.

  • Finance: Hiring within the industry rose by 3,000 last month, as 7.72 million finance professionals were employed. Hiring also augmented on a year-to-year basis; only 7.69 million professionals were employed in May 2011.
  • Healthcare: Employment remained steady in May, as 32,800 healthcare workers were hired, including recent college graduates. A majority of the hiring occurred in ambulatory healthcare services, particularly physicians’ offices.
  • Manufacturing: Hiring also remained robust within the manufacturing sector, as 12,000 new positions were added to the national economy. In all, nearly 12 million workers were employed last month.
  • Retail Trade: Although hiring is currently much slower than it was in late 2011, 2,300 Americans received new job opportunities within the industry in May. Most hiring occurred in clothing or food and beverage stores.
  • Temporary Help Services: For the second straight month, hiring rose within the sector, as 9,200 new positions were generated. Roughly 2.5 million Americans were employed.
  • IT Design and Consulting: This sector added 7,500 jobs in May with the bulk being seen in computer systems design.

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