A postscript to the February Johnson City MSA labor market report shows some month-over-month jobs sector growth even though the year-over-year picture is softer.
Total non-farm jobs grew by 1,200 from January. The lion’s share of the gains were in the government sector.
Sectors that show job gain in February were:
– Mining, Logging, and Construction.
– Professional and Business Services.
– Education and Health Services.
– Leisure and Hospitality.
The only sector with a month-over-month jobs loss was Trade, Transportation and Utilities.
Manufacturing, Financial Activities, Information and Other Services were unchanged from January’s total.
That’s the short-term look and reflects some seasonal hiring.
Which sectors are gaining and losing jobs on year-over-year comparison
The longer-term perspective comes when you compare the sectors’ growth or loss during the past 12 months.
Based on that metric there are more sectors that have lost jobs than those adding jobs.
February sectors that were down on the year-over-year comparison are:
– Information -6.7%. Since this sector has the fewest number of employees it’s not as significant as the year-over-year down trend in the Government or Education and Health Service sectors. They have the MSA’s largest number of workers.
– Financial Activities -2.7%.
– Manufacturing -2.5%.
– Government -1.6%.
– Education and Health Services -1.4%.
Growth sectors are:
– Other Services +4.5%.
– Retail trade +2.1%.
– Leisure and Hospitality +1.2%.
– Professional and Business Services +1.2%.
The other three sectors – Mining, Logging and Construction; Transport and Utilities; Wholesale Trade – are flat.
A timeline of the year-over-year changes can be found at the MTSU’s Business and Economic Research Center website.
The primary February labor market report can be found by CLICKING HERE.