The December 2014 Payroll Jobs Report

by Dr. Paul Craig Roberts January 9. The Bureau of Labor Statistics reports that a quarter of a million new jobs were created in December. The reported new jobs are concentrated in construction (48,000), professional and business services (52,000), health care and social assistance (43,700), and waitresses and bartenders (43,600) . The construction jobs are in heavy and civil engineering construction and specialty trade contractors. The personal and business services jobs are primarily administrative and waste services, about half of which are temporary help services. Ambulatory health care and nursing and residential care account for half of the health care and social assistance jobs. There are 43,600 new jobs in food services and drinking places. Durable goods manufacturing provided 13,000 jobs. The largest component is fabricated metal products (4,600 jobs). Manufacturing of computer and electronic products provided 400 jobs. In December the economy hired 500 more people in legal services, lost 14,100 jobs in accounting and bookkeeping, created 5,100 jobs in architectural and engineering services, 9,000 jobs in computer systems design and related services, and hired 3,800 managers. Continue Reading>>>

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