Wednesday, November 11, 2009
Curious about how the major U.S. nonfarm payroll categories have changed since record keeping began in 1939, the chart below was prepared. Note that the lowest growth categories are listed at the top and the highest growth categories are at the bottom.
Obviously, the demise of manufacturing and the rise of education and health care are the most significant aspects of the data. But, the government category and the professional and business services categories were a bit surprising, expansion in the former expected to be larger and growth in the latter expected to be smaller.
Surely, many counted in professional and business services work for companies that contract with the federal, state, or local government, however, this number is not broken out in the Labor Department data.