June 21, 2007
Nonfarm payroll employment increased by 2.3 million in 2006.
Employment trends varied by industry. A weak housing market hurt employment in construction and related industries, and imports continued to compete with manufactured goods such as textiles and apparel.
Oil prices hit an all-time high in the summer and had a dual effect, hindering growth in retail trade while boosting employment in mining and other industries that produce energy.
Shortages of skilled labor suppressed hiring in temporary help services, but spurred wage growth in professional and technical services.
Increased tax revenues had a positive influence on hiring for health care and education.
These data on employment are from the Current Employment Statistics (CES) program and have been seasonally adjusted. For more information, see "Payroll employment and job openings rate continued to grow in 2006," by Kimberly Riley, Emily Lloyd, and Natalie Propst, Monthly Labor Review, March 2007.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Industry employment trends in 2006 on the Internet at http://www.bls.gov/opub/ted/2007/jun/wk3/art04.htm (visited May 26, 2015).
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Trends in long-term unemployment
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Housing: before, during, and after the Great Recession
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