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The 10 Industries That Lost The Most Jobs In 2010
While markets and profits rebounded this year, hiring did not.
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Since last November, the BLS has recorded a mediocre 842K increase to nonfarm payrolls, with a 1,088K increase to the private sector.
State and local governments suffered the most as property tax revenue cratered. Manufacturing job loss continued in most sectors.
Nov. 2009: 4,505,000
Nov. 2010: 4,472,000
Change: –33,000
Nondurable goods includes everything from food manufacturing to apparel and chemicals to paper products. Plastic and rubber products alone lost 18,900 jobs. This continues an ongoing migration of factory jobs out of America.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 1,295,900
Nov. 2010: 1,257,000
Change: –38,900
It should come as no surprise that significantly more jobs were lost in residential construction than in nonresidential construction -- 31,300 versus 7,600.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 2,793,600
Nov. 2010: 2,754,600
Change: –39,000
This year's increasing state deficits have resulted in more government hiring freezes and layoffs.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 1,966,800
Nov. 2010: 1,927,500
Change: –39,300
Per the ongoing housing crash, this number won't surprise anyone.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 961,400
Nov. 2010: 920,600
Change: –40,800
Of all the sectors in the information industry, telecommunications was hit the hardest.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 682,800
Nov. 2010: 641,700
Change: –41,100
With the continued development of digital communication technologies like smart phones, Skype and Google docs, who still sends mail? The loss of jobs in the U.S. Postal Service reflects a long-term and continuing secular change.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 918,400
Nov. 2010: 876,200
Change: –42,200
Though professional and technical services as an industry has only lost 3,900 jobs, the accounting and bookkeeping subsector lost a whopping 42,200 jobs. Blame it on efficiency.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 3,627,600
Nov. 2010: 3,525,500
Change: –102,100
Special ity trade contractors are hired for specific activities like concrete pouring, painting, electrical work, etc. With job losses in construction, it's natural this industry would be hit hard as well.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 6,448,000
Nov. 2010: 6,330,500
Change: –117,500
Local government revenue, often driven by property tax, has faced an unprecedented revenue collapse. Cities turned to hiring freezes at best, layoffs at worst.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
Nov. 2009: 8,054,100
Nov. 2010: 7,910,400
Change: –143,700
School systems, also dependent on property taxes, are near broke around the country. Job loss has been severe.
Source: Seasonally-adjusted nonfarm payrolls from the U.S. Bureau of Labor Statistics
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