Posted: 24 Jun 2011 10:19 AM PDT

This is the second part of a two-part interactive map series on jobs. For part one, please see Interactive Map: Employment History Since 2001 by Job Type (Healthcare, Education, Mining, Construction, Finance, Real Estate, etc)

Part two has a focus on job creation and losses during the economic recovery. Please consider the following interactive map, using Tableau Software, with data courtesy of Economic Modeling Specialists.

This interactive map may take a bit to load. Please give it time on a slow connection.

Note on Economic Modeling Data

"Our data is used by many to research and understand regional employment trends and dynamics. It's composed of comprehensive information on industries, occupations, demographics — as well as things like occupational skills, education, training, and even the names and size of companies in your region broken down by industry.

To do this we link nearly 90 data sources — from federal sources like the Bureau of Labor Statistics to state and private sources.

If you've ever worked with this sort of information, you know it can be hard to collect and present. It's also often incomplete and outdated. So we organize the data, bring it up to date, and build software and reports around it so you can put it to use more quickly and effectively"

Jobs Gained or Lost Since Dec 31, 2007
Industry	2008	2009	2010	2011
Health Care	461,860	792,679	1,023,907	1,278,794
Finance & Insurance	323,802	629,082	490,384	444,530
Mining & Oil	195,813	345,116	337,917	422,752
Educational Services	121,337	195,899	236,766	295,498
Government	358,591	451,680	398,853	90,393
Arts & Entertainment	92,418	108,263	77,181	65,855
Management	60,985	25,371	16,323	26,615
Utilities	13,019	20,773	13,771	11,275
Professional	203,493	-107,607	-164,853	-39,124
Agriculture & Forestry	-18,909	-26,033	-33,643	-71,928
Other Services	-30,456	-221,109	-246,875	-82,177
Food & Lodging	71,681	-242,538	-273,658	-145,099
Information	-30,863	-203,185	-299,866	-331,269
Real Estate	-76,068	-232,452	-335,391	-359,874
Transportation	-107,538	-501,697	-559,415	-486,346
Admin & Support	-389,951	-1,226,173	-1,097,484	-774,404
Retail & Wholesale	-428,934	-1,759,253	-1,977,146	-1,854,109
Manufacturing	-478,023	-2,072,959	-2,415,322	-2,290,390
Construction	-612,184	-1,955,402	-2,468,184	-2,519,538
Totals	-269,927	-5,979,545	-7,276,735	-6,318,546

Jobs Gained or Lost vs. Year Ago
Industry	2008	2009	2010	2011
Totals	-269,927	-5,709,618	-1,297,190	958,189
Admin & Support	-389,951	-836,222	128,689	323,080
Health Care	461,860	330,819	231,228	254,887
Other Services	-30,456	-190,653	-25,766	164,698
Food & Lodging	71,681	-314,219	-31,120	128,559
Professional	203,493	-311,100	-57,246	125,729
Manufacturing	-478,023	-1,594,936	-342,363	124,932
Retail & Wholesale	-428,934	-1,330,319	-217,893	123,037
Mining & Oil	195,813	149,303	-7,199	84,835
Transportation	-107,538	-394,159	-57,718	73,069
Educational Services	121,337	74,562	40,867	58,732
Management	60,985	-35,614	-9,048	10,292
Utilities	13,019	7,754	-7,002	-2,496
Arts & Entertainment	92,418	15,845	-31,082	-11,326
Real Estate	-76,068	-156,384	-102,939	-24,483
Information	-30,863	-172,322	-96,681	-31,403
Agriculture & Forestry	-18,909	-7,124	-7,610	-38,285
Finance & Insurance	323,802	305,280	-138,698	-45,854
Construction	-612,184	-1,343,218	-512,782	-51,354
Government	358,591	93,089	-52,827	-308,460

Job Table Notes

Data is as of May 31, 2011
2011 comparison is to December 31, 2010
Job gains in 2011 are higher than reported by the BLS. I see no reason to believe the BLS.
Since December 2007, the economy has lost 6,318,546 jobs
In 2011, the big job gainer is not healthcare but "administration"
Healthcare and Education are the two bright spots throughout the recession.

The 6.3 million jobs lost since the beginning of 2008 is deceptively low. The Economy should have been gaining 1.8 milling jobs a year, not losing jobs. In other words, the economy is down 10 to 12 million jobs from where it should be.

Thanks to Ross Perez at Tableau Software and also to Economic Modeling Specialists for this post.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Italian Bank Stocks Plunge, Trading Suspended; Juncker Principle in Action

Posted: 24 Jun 2011 07:13 AM PDT

Italy, the big elephant in the room that the EU does not even see yet, may be waking up. Please consider, Italian Banks Plunge on Debt Concern

Italian banks slumped in Milan trading amid concern the European debt crisis may spread just as lenders face scrutiny from regulators over capital levels.

UniCredit SpA (UCG), Italy's biggest bank, and Intesa Sanpaolo SpA (ISP), the second-largest, led lenders lower, tumbling as much as 8.9 percent and 7.2 percent respectively. Both stocks were briefly suspended after breaching limits on intraday swings. Italian 10-year bonds fell, increasing the additional yield investors demand to hold the securities instead of benchmark German bunds to the most since the euro was introduced in 1999.

"Contagion fears keep re-emerging as long as credible, lasting solutions in Greece are pending," said Christian Weber, a Munich-based strategist at UniCredit.

Prime Minister Silvio Berlusconi said today the country's banks are "well capitalized." Speaking at a summit of European leaders in Brussels, Berlusconi said he wasn't worried about Moody's comments about the country's banks.

The European Banking Authority yesterday updated its stress tests to take into account extra trading losses that banks may face on their holdings of sovereign debt from crisis-hit European Union countries including Greece.

Italian banks are also seeking to raise money from investors to bolster capital. Unione di Banche Italiane ScpA (UBI), Italy's fourth-biggest bank, fell as much as 5 percent to 3.628 euros. The lender may struggle to lure buyers to its 1 billion- euro ($1.4 billion) rights offering, which closes today. The bank is offering investors eight new shares at 3.808 euros for every 21 held.

Juncker Principle in Action

Italian Prime Minister Silvio Berlusconi appears to be following the "Juncker Principle".

Jean-Claude Juncker, Luxembourg PM and Head Euro-Zone Finance Minister says "When it becomes serious, you have to lie".

Italian banks are in a scramble to raise capital even though the prime minister assures us that its banks are "well capitalized."

Actions speak louder than lies.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

What Changed? Nothing; Bond Market Displays Big Yawn

Posted: 24 Jun 2011 04:51 AM PDT

Those watching the stock market ramp yesterday might be wondering if something meaningful had happened. Nothing did. The EU agreed to give Greece more money, but everyone knew they would anyway.

Let's take a look at sovereign bond spreads to see what they think about the non-news.

10-Year Debt Greece - Yield 16.8%

10-Year Debt Spain - Yield 5.6%

10-Year Debt Ireland - Yield 11.89%

10-Year Debt Portugal - Yield 11.37%

10-Year Debt Italy - Yield 4.94%

In case of differences between charts and listed values, go with listed values. Bloomberg interactive charts are delayed. Listed values are as of 6:40 AM Central 2011-06-24.

Big Yawn

The stock market reacted as if there was news, the bond market put out the big yawn. Greek yields came down slightly, but that is simply reflective of the can-kicking exercise.

Spanish yields essentially did nothing, while Irish and Portuguese yields hit new highs.

Spain and Italy are poised to smack Trichet, the ECB, EU, and the IMF the smack across the face and it's just a matter of time before they do. Meanwhile the action in Irish and Portuguese bonds shows the immense stress did not go away.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Home Refinance Calculator

Friday, June 24, 2011

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

No comments:

Post a Comment