US Service Sector December 2000 Performance
Jan 6, 2001
US services employment continue to grow according to data released by the Bureau of Labor Statistics on 5 January 2001. Once more, services employment offset losses in the manufacturing sector. Services contributed 81,000 new employments with transportation and utilities making most contributions to this figure. Health services and private education with 23,000 and 21,000 respectively also made an important contribution to employment. Despite the contribution of the services sector to low unemployment, services corporations and research institutions have reported a decline in service sector activity and a surge in layoffs. The National Association of Purchasing Management reported a decline in the index of service sector activity from 58.5 to 53, the lowest in the year, suggesting positive but slower growth in the services sector. Most of the growth in new orders came from the transportation sector due to the holiday season. The employment index also showed slower job creation after the index went down from 54.5 to 51. Despite the slower growth prices and costs in the sector continued to rise slightly after the cost index passed from 57 to 58 in December.
Source: Bureau of Labor Statistics.
The report is available at: http://www.bls.gov
Non-manufacturing Report on Business. National Association of Purchasing Management.
The Report is available at: http://www.napm.org/NAPMReport/NMROB012001.cfm
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