The truth in numbers
Most analysts don’t foresee the economy sliding back into a feared “double dip” recession, but the struggle to recovery poses a challenge for President Bush and will be a key topic for voters heading into the November elections.
In Friday’s report, employment in the services industry surged by 100,000 in August, compared to an average monthly gain of 62,000 in the previous five months. Jobs in health care and temporary employment firms helped fuel the growth.
Government employment also was up by 41,000. Federal and local government hiring more than offset losses in state education. Employment in the federal government rose by 20,000 last month, with the Transportation Security Administration, which oversees the nation’s security at airports, accounting for most of the increase.
Construction employment rose by 34,000 in August, reversing a loss of 30,000 jobs in July.
But factory jobs fell sharply in August by 68,000 after four months of losses that averaged just 18,000. The industry’s losses were widespread. Retail employment also dropped by 55,000 last month despite a back-to-school shopping rush. Most of the cuts were in department stores. |
