Employment in health care increased by 28,000 in August, with the largest gains occurring in ambulatory health care services (+17,000) and hospitals (+9,000). Thus far in 2010, the health care industry has added an average of 20,000 jobs per month, about in line with the average monthly job growth in 2009.
Manufacturing employment declined by 27,000 over the month. A decline in motor vehicles and parts (-22,000) offset a gain of similar magnitude in July as the industry departed somewhat from its usual layoff and recall pattern for annual retooling.
As Goldman puts it… this is the Obama economy at work. Sure, when the government puts a massive effort towards healthcare, you’ll see job growth there. And yet in the area we keep talking about expanding, manufacturing, it doesn’t happen.
Business Insider Emails & Alerts
Site highlights each day to your inbox.