U.S. added 308,000 jobs in March, well above forecasts [View All]

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U.S. added 308,000 jobs in March, well above forecasts. Details soon.Stocks Set to Rise on Job Creation Hopes
April 02, 2004 08:09:00 AM ET
http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20040402/bs_nm/economy_jobs_dc

WASHINGTON (Reuters) - U.S. employment rose last month at the fastest pace in nearly four years, easily outstripping expectations, as workers returned after a grocery store strike and construction hiring bounced back on better weather, a government report on Friday showed. <snip>

Non-farm payrolls climbed 308,000 in March, the Labor Department said, the biggest gain since April 2000 and well above the 103,000 rise expected on Wall Street.

The unemployment rate ticked up to 5.7 percent from the two-year low of 5.6 percent seen in January and February.

Upward revisions to January and February payrolls helped contribute to the positive tone of the report, which could fuel expectations that the Federal Reserve may be closer to raising overnight interest rates from their current 1958 low of 1 percent than had been thought. <snip>

BEFORE THE REPORT REUTERS WAS SAYING
By Bill Rigby

NEW YORK (Reuters) - U.S. stocks are set to rise on Friday as investors anticipate a sharp pickup in new jobs in Friday's monthly employment report.

The report, due at 8:30 a.m. (1330 GMT), will be closely watched for signs that the economy's recovery is sustainable.

``It's all about jobs -- the market has been subdued all week long just waiting for the numbers,'' said David Hegarty, head of equity trading for Commerzbank Securities. ``A lot of people are looking for an upside on the number.''

Economists expect to see between 103,000 and 120,000 new jobs created in March, up from 21,000 in February. The unemployment rate is expected to hold steady at 5.6 percent.

The number of jobs created would have to beat that estimate comfortably to trigger a rally, Hegarty said, while any sell-off would likely be limited by technical support levels if the jobs data disappoints.


DETAILS FROM DOL ON THE REPORT
http://www.bls.gov/news.release/empsit.nr0.htm

Technical information:
Household data: (202) 691-6378 USDL 04-596
http://www.bls.gov/cps/

Establishment data: 691-6555 Transmission of material in this release is
http://www.bls.gov/ces/ embargoed until 8:30 A.M. (EST),
Media contact: 691-5902 Friday, April 2, 2004.


THE EMPLOYMENT SITUATION: MARCH 2004

Nonfarm payroll employment increased by 308,000 in March, and the
unemployment rate was about unchanged at 5.7 percent, the Bureau of LaborStatistics of the U.S. Department of Labor reported today. Payroll job growth was fairly widespread, as construction employment rose sharply and several major service-providing industries also added jobs.

Unemployment (Household Survey Data)

The unemployment rate, 5.7 percent, and the number of unemployed persons, 8.4 million, were essentially unchanged in March. Both measures remained below their recent highs of June 2003.Unemployment rates for the major worker groups--adult men (5.2 percent), adult women (5.1 percent), teenagers (16.5 percent), whites (5.1 percent), blacks (10.2 percent), and Hispanics or Latinos (7.4 percent)--showed little or no change over the month. The unemployment rate for Asians was 4.2 percent in March, not seasonally adjusted.
(See tables A-1, A-2, and A-3.)

Total Employment and the Labor Force (Household Survey Data)

Total employment in March held at 138.3 million, and the employment-population ratio--the proportion of the population age 16 and over with jobs--was essentially unchanged at 62.1 percent. The civilian labor force was about unchanged over the month at 146.7 million, and the labor force participation rate remained at 65.9 percent. (See table A-1.)

In March, the number of persons who worked part time for economic reasons increased to 4.7 million, about the same level as in January. These individuals indicated that they would like to work full time but were working part time because their hours had been cut back or because they were unable to find full-time jobs. (See table A-5.)

Persons Not in the Labor Force (Household Survey Data)

The number of persons who were marginally attached to the labor force totaled 1.6 million in March, about the same as a year earlier. (Data are not seasonally adjusted.) These individuals wanted and were available to work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed, however, because they did not actively search for work in the 4 weeks preceding the survey. There were 514,000 discouraged workers in March, also about the same as a year earlier. Discourageworkers, a subset of the marginally attached, were not currently looking for work specifically because they believed no jobs were available for them. The other 1.1 million marginally attached had not searched for work for reasons such as school or family responsibilities. (See table A-13.)

Industry Payroll Employment (Establishment Survey Data)

Total nonfarm payroll employment rose by 308,000 in March to 130.5 million, seasonally adjusted. The over-the-month increase in employment included gains in construction, retail trade, and health care and social assistance. The number of factory jobs was unchanged in March. Since August 2003, payroll employment has risen by 759,000. (See table B-1.)


- 2 -

Table A. Major indicators of labor market activity, seasonally adjusted (Numbers in thousands)
______________________________________________________________________________
| Quarterly | |
| averages | Monthly data |
|_________________|__________________________| Feb.-
Category | 2003 | 2004 1/| 2004 | Mar.
|_________________|_________________ ________|change
| IV | I | Jan. 1/| Feb. | Mar. |
_________________________|________|________|________|________|________|_______
HOUSEHOLD DATA | Labor force status
|____________________________________________________
Civilian labor force.....| 146,986| 146,661| 146,863| 146,471| 146,650| 179
Employment.............| 138,369| 138,388| 138,566| 138,301| 138,298| -3
Unemployment...........| 8,616| 8,273| 8,297| 8,170| 8,352| 182
Not in labor force.......| 75,290| 75,695| 75,298| 75,886| 75,900| 14
|________|________|________|________|________|_______
| Unemployment rates
|____________________________________________________
All workers..............| 5.9| 5.6| 5.6| 5.6| 5.7| 0.1
Adult men..............| 5.5| 5.1| 5.1| 5.1| 5.2| .1
Adult women............| 5.1| 5.0| 5.0| 4.9| 5.1| .2
Teenagers..............| 16.3| 16.6| 16.7| 16.6| 16.5| -.1
White..................| 5.1| 5.0| 4.9| 4.9| 5.1| .2
Black or African | | | | | |
American.............| 10.7| 10.1| 10.5| 9.8| 10.2| .4
Hispanic or Latino | | | | | |
ethnicity............| 7.1| 7.4| 7.3| 7.4| 7.4| .0
|________|________|________|________|________|_______
ESTABLISHMENT DATA | Employment
|____________________________________________________
Nonfarm employment.......| 130,002|p130,327| 130,194|p130,240|p130,548| p308
Goods-producing 2/.....| 21,676| p21,706| 21,696| p21,672| p21,750| p78
Construction.........| 6,766| p6,822| 6,812| p6,791| p6,862| p71
Manufacturing........| 14,340| p14,311| 14,314| p14,310| p14,310| p0
Service-providing 2/...| 108,326|p108,621| 108,498|p108,568|p108,798| p230
Retail trade.........| 14,915| p14,971| 14,945| p14,961| p15,008| p47
Professional and | | | | | |
business services..| 16,114| p16,195| 16,172| p16,185| p16,227| p42
Education and health | | | | | |
services...........| 16,705| p16,773| 16,746| p16,767| p16,806| p39
Leisure and | | | | | |
hospitality........| 12,172| p12,229| 12,218| p12,221| p12,249| p28
Government...........| 21,549| p21,547| 21,527| p21,542| p21,573| p31
|________|________|________|________|________|_______
| Hours of work 3/
|____________________________________________________
Total private............| 33.7| p33.8| 33.8| p33.8| p33.7| p-0.1
Manufacturing..........| 40.6| p41.0| 41.0| p41.0| p40.9| p-.1
Overtime.............| 4.4| p4.6| 4.5| p4.6| p4.6| p.0
|________|________|________|________|________|_______
| Indexes of aggregate weekly hours (2002=100) 3/
|____________________________________________________
Total private............| 98.7| p99.1| 99.1| p99.1| p99.0| p-0.1
|________|________|________|________|________|_______
| Earnings 3/
|____________________________________________________
Avg. hourly earnings, | | | | | |
total private..........| $15.45| p$15.52| $15.49| p$15.52| p$15.54| p$0.02
Avg. weekly earnings, | | | | | |
total private..........| 520.55| p523.95| 523.56| p524.58| p523.70| p-.88
_________________________|________|________|________|________|________|_______

1 Beginning in January 2004, household data reflect revised population
controls used in the Current Population Survey.
2 Includes other industries, not shown separately.
3 Data relate to private production or nonsupervisory workers.
p=preliminary.

- 3 -

Construction employment increased by 71,000 in March, following a decline
in February. This industry has added 201,000 jobs over the past year. Most
of the March employment gain occurred among specialty trade contractors.

Retail trade added 47,000 jobs in March. This sector has added 132,000
jobs since December, after posting a net job loss in 2003. Within retail
trade, employment in food stores increased by 13,000 over the month, reflect-
ing the net impact of workers returning from a strike. Wholesale trade em-
ployment edged up over the month. Since October, the industry has added
39,000 jobs.

Employment in health care and social assistance rose by 36,000 in March.
Over the year, this industry has gained 255,000 jobs. In March, employment
increased in hospitals (12,000), offices of physicians (9,000), and nursing
and residential care facilities (7,000).

In the financial sector, employment in credit intermediation and related
activities grew by 11,000 in March. Following declines in the last quarter
of 2003, employment in credit intermediation expanded in the first quarter,
reflecting a rise in mortgage refinancing activity. Prior to the fourth
quarter of 2003, the industry had been adding jobs for about 3 years.

Professional and business services added 42,000 jobs in March. Small em-
ployment increases occurred in several of the component industries, including
architectural and engineering services, computer systems design, and manage-
ment consulting. Elsewhere in professional and business services, employment
in temporary help services was about unchanged over the month. Since April
2003, however, the industry has added 212,000 jobs.

Within the leisure and hospitality sector, employment in food services and
drinking places increased by 27,000 over the month and by 186,000 over the
year.

Manufacturing employment was unchanged in March at 14.3 million. Declines
in manufacturing employment began moderating late last summer. Employment in
both durable and nondurable goods manufacturing was little changed in March.

Employment in a number of other industries edged up in March, including
transportation and warehousing (13,000), utilities (2,000), and government
(31,000). Within government, the March job gain was concentrated in state
and local education.

Weekly Hours (Establishment Survey Data)

The average workweek for production or nonsupervisory workers on private
nonfarm payrolls decreased by 0.1 hour in March to 33.7 hours, seasonally
adjusted. The manufacturing workweek also declined by 0.1 hour to 40.9 hours.
Manufacturing overtime was unchanged at 4.6 hours over the month.
(See table B-2.)

The index of aggregate weekly hours of production or nonsupervisory workers
on private nonfarm payrolls fell by 0.1 percent in March to 99.0 (2002=100).
The manufacturing index was down by 0.3 percent over the month to 94.1. (See
table B-5.)

Hourly and Weekly Earnings (Establishment Survey Data)

Average hourly earnings of production or nonsupervisory workers on private
nonfarm payrolls increased by 2 cents in March to $15.54, seasonally adjusted.
Average weekly earnings fell by 0.2 percent over the month to $523.70. Over
the year, average hourly earnings grew by 1.8 percent, and average weekly earn-
ings increased by 1.5 percent. (See table B-3.)

http://www.bls.gov/news.release/empsit.t14.htm

Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail
ESTABLISHMENT DATA ESTABLISHMENT DATA

Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail

(In thousands)


Not seasonally adjusted Seasonally adjusted

Change
Industry Mar. Jan. Feb. Mar. Mar. Nov. Dec. Jan. Feb. Mar. from:
2003 2004 2004p 2004p 2003 2003 2003 2004 2004p 2004p Feb. 2004-
Mar. 2004p

Total nonfarm......... 129,148 128,190 128,794 129,801 129,921 130,027 130,035 130,194 130,240 130,548 308

Total private........... 107,131 106,767 106,968 107,816 108,305 108,483 108,491 108,667 108,698 108,975 277

Goods-producing............. 21,529 21,168 21,126 21,335 21,949 21,686 21,668 21,696 21,672 21,750 78

Natural resources and mining.... 556 556 556 563 571 571 570 570 571 578 7
Logging...................... 64.2 62.9 62.1 62.0 69.2 67.6 65.9 65.1 64.2 66.7 2.5
Mining......................... 491.5 492.9 494.0 501.2 501.6 503.4 504.3 505.1 506.5 510.8 4.3
Oil and gas extraction........ 119.8 126.8 128.5 128.4 121.2 123.9 124.6 126.9 128.4 129.2 .8
Mining, except oil and gas(1). 196.4 191.7 191.1 196.3 201.9 202.4 202.0 200.0 199.8 201.8 2.0
Coal mining.................. 70.5 69.2 69.4 70.0 70.7 69.5 69.8 69.6 69.9 70.2 .3
Support activities for mining. 175.3 174.4 174.4 176.5 178.5 177.1 177.7 178.2 178.3 179.8 1.5

Construction.................... 6,319 6,399 6,356 6,516 6,661 6,771 6,774 6,812 6,791 6,862 71
Construction of buildings..... 1,510.6 1,535.2 1,524.0 1,550.5 1,571.4 1,583.9 1,585.1 1,593.3 1,591.4 1,610.0 18.6
Heavy and civil engineering
construction................. 811.6 816.6 806.8 840.4 898.1 918.8 920.7 928.0 923.9 925.9 2.0
Specialty trade contractors... 3,997.0 4,046.9 4,025.0 4,124.7 4,191.3 4,268.6 4,268.4 4,290.2 4,276.0 4,325.9 49.9

Manufacturing................... 14,654 14,213 14,214 14,256 14,717 14,344 14,324 14,314 14,310 14,310 0
Production workers........... 10,303 9,952 9,953 9,991 10,346 10,048 10,044 10,035 10,027 10,024 -3

Durable goods.................. 9,066 8,818 8,835 8,864 9,092 8,874 8,868 8,869 8,877 8,882 5
Production workers........... 6,232 6,040 6,049 6,074 6,244 6,089 6,079 6,081 6,081 6,080 -1

Wood products................. 528.5 526.0 528.9 529.9 537.4 536.3 536.6 536.3 538.5 538.5 .0
Nonmetallic mineral products.. 485.9 475.7 471.0 480.5 497.1 489.7 487.5 492.7 488.6 490.0 1.4
Primary metals................ 488.8 462.2 460.8 461.0 489.3 464.1 464.6 462.2 461.5 460.7 -.8
Fabricated metal products..... 1,492.0 1,469.2 1,473.3 1,475.6 1,494.5 1,468.1 1,471.2 1,471.8 1,475.9 1,476.7 .8
Machinery..................... 1,171.1 1,137.3 1,140.3 1,143.8 1,169.3 1,142.5 1,140.4 1,138.7 1,139.5 1,141.6 2.1
Computer and electronic
products(1).................. 1,387.0 1,331.2 1,331.6 1,333.9 1,388.6 1,334.4 1,332.2 1,333.2 1,332.9 1,334.2 1.3
Computer and peripheral
equipment................... 231.4 218.2 218.2 219.0 231.3 219.1 217.8 219.4 219.1 218.9 -.2
Communications equipment..... 160.2 154.8 155.2 154.7 160.6 154.4 153.0 154.8 155.0 155.0 .0
Semiconductors and electronic
components.................. 472.0 449.3 450.9 451.5 472.2 451.2 451.3 450.2 451.1 451.2 .1
Electronic instruments....... 434.2 424.4 422.0 423.3 434.9 425.2 425.3 423.7 422.1 423.5 1.4
Electrical equipment and
appliances................... 469.6 449.0 448.6 448.3 469.3 450.9 451.2 449.8 448.9 447.0 -1.9
Transportation equipment...... 1,792.1 1,753.4 1,762.4 1,765.7 1,793.6 1,766.5 1,762.7 1,760.6 1,765.8 1,765.2 -.6
Furniture and related products 580.6 567.0 567.8 573.6 581.9 568.9 569.3 571.3 572.1 575.5 3.4
Miscellaneous manufacturing... 670.1 646.9 650.3 652.0 670.9 652.7 651.9 652.0 653.3 652.4 -.9

Nondurable goods............... 5,588 5,395 5,379 5,392 5,625 5,470 5,456 5,445 5,433 5,428 -5
Production workers........... 4,071 3,912 3,904 3,917 4,102 3,959 3,965 3,954 3,946 3,944 -2

Food manufacturing............ 1,493.2 1,480.1 1,472.1 1,470.9 1,517.3 1,508.3 1,506.3 1,500.7 1,499.6 1,498.4 -1.2
Beverages and tobacco products 197.5 193.5 190.2 190.5 202.2 198.3 198.3 197.7 195.9 195.6 -.3
Textile mills................. 274.6 237.5 235.1 238.0 274.2 245.1 241.0 239.2 237.1 237.2 .1
Textile product mills......... 186.3 174.3 173.4 177.7 187.2 175.2 174.3 176.9 175.7 177.2 1.5
Apparel....................... 326.9 289.9 293.5 293.6 326.8 297.7 297.7 296.1 296.4 292.8 -3.6
Leather and allied products... 46.7 43.8 44.3 46.1 46.8 44.1 44.3 44.6 45.0 45.7 .7
Paper and paper products...... 522.1 508.4 505.2 504.9 525.0 511.7 510.3 509.8 507.8 507.7 -.1
Printing and related support
activities................... 684.6 665.2 661.1 659.8 685.7 673.1 670.1 667.6 664.3 660.7 -3.6
Petroleum and coal products... 114.4 110.7 109.5 110.9 116.8 112.0 112.4 114.3 113.0 113.0 .0
Chemicals..................... 916.1 890.3 893.6 895.6 916.2 897.6 895.9 893.7 894.6 894.8 .2
Plastics and rubber products.. 825.6 801.2 801.4 803.8 826.9 806.5 805.8 804.8 803.5 804.5 1.0

Service-providing........... 107,619 107,022 107,668 108,466 107,972 108,341 108,367 108,498 108,568 108,798 230

Private service-providing.. 85,602 85,599 85,842 86,481 86,356 86,797 86,823 86,971 87,026 87,225 199

Trade, transportation, and
utilities...................... 24,994 25,132 24,951 25,084 25,328 25,261 25,211 25,312 25,325 25,398 73

Wholesale trade................ 5,598.2 5,568.8 5,568.9 5,596.0 5,628.3 5,592.7 5,598.4 5,611.4 5,610.1 5,621.0 10.9
Durable goods................. 2,948.5 2,940.0 2,937.3 2,950.3 2,961.2 2,943.9 2,945.8 2,954.9 2,952.7 2,961.1 8.4
Nondurable goods.............. 1,997.6 1,970.0 1,971.3 1,980.9 2,013.0 1,989.2 1,991.8 1,993.7 1,993.6 1,993.4 -.2
Electronic markets and agents
and brokers.................. 652.1 658.8 660.3 664.8 654.1 659.6 660.8 662.8 663.8 666.5 2.7

Retail trade...................14,648.1 14,842.1 14,672.4 14,754.0 14,911.6 14,921.7 14,876.0 14,944.8 14,960.9 15,008.0 47.1
Motor vehicle and parts
dealers(1)................... 1,861.1 1,870.2 1,877.7 1,894.4 1,874.3 1,892.9 1,893.7 1,895.4 1,900.7 1,907.5 6.8
Automobile dealers........... 1,246.4 1,251.7 1,257.0 1,263.7 1,249.4 1,258.9 1,259.5 1,261.3 1,264.3 1,267.3 3.0
Furniture and home furnishings
stores....................... 540.2 548.0 540.5 542.2 543.5 544.8 547.2 546.4 544.7 545.6 .9
Electronics and appliance
stores....................... 510.9 517.5 508.0 507.8 513.2 512.8 511.9 509.3 507.4 509.4 2.0
Building material and garden
supply stores................ 1,143.2 1,167.6 1,164.8 1,200.4 1,173.7 1,210.0 1,209.5 1,221.4 1,226.8 1,231.9 5.1
Food and beverage stores...... 2,818.0 2,813.6 2,804.8 2,814.5 2,854.0 2,821.4 2,813.9 2,826.3 2,833.1 2,845.9 12.8
Health and personal care
stores....................... 930.8 956.2 950.9 949.9 937.3 951.6 952.6 954.1 954.9 956.4 1.5
Gasoline stations............. 871.3 868.2 860.5 861.6 881.7 875.2 871.1 875.1 872.1 871.7 -.4
Clothing and clothing
accessories stores........... 1,260.7 1,312.2 1,274.3 1,281.5 1,296.8 1,297.1 1,301.0 1,304.3 1,310.7 1,316.5 5.8
Sporting goods, hobby, book,
and music stores............. 634.9 644.4 623.2 617.3 651.2 641.3 633.2 635.9 635.3 632.7 -2.6
General merchandise stores(1). 2,733.7 2,804.2 2,728.9 2,752.5 2,815.8 2,826.4 2,793.4 2,822.7 2,823.2 2,834.0 10.8
Department stores............ 1,575.4 1,604.8 1,544.7 1,555.8 1,628.8 1,612.6 1,601.3 1,603.4 1,600.7 1,608.0 7.3
Miscellaneous store retailers. 918.2 915.2 915.6 910.9 939.2 930.9 924.4 929.6 926.6 930.4 3.8
Nonstore retailers............ 425.1 424.8 423.2 421.0 430.9 417.3 424.1 424.3 425.4 426.0 .6

Transportation and warehousing. 4,165.8 4,143.3 4,132.8 4,154.4 4,204.3 4,168.0 4,157.0 4,175.9 4,174.6 4,187.8 13.2
Air transportation............ 545.2 505.9 506.9 511.9 550.5 511.5 512.9 510.2 511.8 514.4 2.6
Rail transportation........... 213.2 214.0 213.8 214.5 214.7 215.5 215.5 215.4 215.7 215.9 .2
Water transportation.......... 52.0 48.8 46.5 47.6 53.4 50.9 50.0 50.6 48.8 49.0 .2
Truck transportation.......... 1,303.5 1,315.4 1,312.0 1,318.2 1,329.0 1,335.7 1,338.7 1,343.6 1,342.3 1,342.9 .6
Transit and ground passenger
transportation............... 390.9 389.8 389.7 392.5 376.4 385.7 385.0 382.3 380.4 379.1 -1.3
Pipeline transportation....... 40.8 38.3 37.9 37.7 41.0 38.7 38.8 38.3 38.1 37.9 -.2
Scenic and sightseeing
transportation............... 21.5 23.7 24.3 25.6 26.5 28.7 29.4 28.7 30.8 31.7 .9
Support activities for
transportation............... 513.8 509.3 511.6 512.5 518.5 512.4 511.6 514.1 514.4 516.8 2.4
Couriers and messengers....... 565.5 572.1 565.2 565.2 570.8 564.7 559.0 566.9 567.6 568.3 .7
Warehousing and storage....... 519.4 526.0 524.9 528.7 523.5 524.2 516.1 525.8 524.7 531.8 7.1

Utilities...................... 581.4 578.2 576.9 579.7 583.4 578.9 579.3 580.2 579.8 581.4 1.6

Information..................... 3,214 3,151 3,155 3,158 3,221 3,172 3,175 3,163 3,168 3,167 -1
Publishing industries, except
Internet..................... 935.0 912.1 912.9 914.1 935.9 918.4 917.4 914.0 914.8 915.5 .7
Motion picture and sound
recording industries......... 367.0 377.2 377.6 376.0 371.3 382.7 385.2 379.7 382.8 381.1 -1.7
Broadcasting, except Internet. 326.3 328.4 330.7 332.8 327.0 327.0 329.5 329.7 331.8 333.1 1.3
Internet publishing and
broadcasting................. 30.0 30.4 31.7 31.8 30.1 30.4 30.4 30.8 31.8 31.8 .0
Telecommunications............ 1,097.0 1,059.0 1,055.3 1,053.1 1,098.6 1,062.2 1,061.2 1,061.3 1,057.4 1,055.4 -2.0
ISPs, search portals, and data
processing................... 410.3 396.8 400.1 402.5 409.6 402.6 402.6 400.1 402.1 402.6 .5
Other information services.... 48.3 47.3 47.1 47.9 48.1 48.2 48.2 47.8 47.5 47.9 .4

Financial activities............ 7,910 7,926 7,938 7,956 7,945 7,985 7,981 7,981 7,989 7,995 6
Finance and insurance.......... 5,895.4 5,899.8 5,910.9 5,921.6 5,902.9 5,922.7 5,916.5 5,917.1 5,925.2 5,931.8 6.6
Monetary authorities - central
bank......................... 22.8 22.4 22.3 22.3 22.9 22.5 22.5 22.4 22.4 22.4 .0
Credit intermediation and
related activities(1)........ 2,758.3 2,777.4 2,778.5 2,790.4 2,763.5 2,790.3 2,783.3 2,785.3 2,788.7 2,799.2 10.5
Depository credit
intermediation(1)........... 1,741.4 1,758.2 1,758.5 1,759.6 1,745.0 1,758.1 1,757.1 1,758.7 1,763.4 1,763.6 .2
Commercial banking.......... 1,275.5 1,279.5 1,278.6 1,278.8 1,279.1 1,280.5 1,278.9 1,280.4 1,282.5 1,282.7 .2
Securities, commodity
contracts, investments....... 761.0 771.9 776.6 777.4 764.6 769.1 771.9 773.8 778.0 780.1 2.1
Insurance carriers and related
activities................... 2,270.0 2,248.8 2,253.7 2,251.7 2,268.5 2,261.2 2,258.1 2,255.8 2,256.4 2,250.4 -6.0
Funds, trusts, and other
financial vehicles........... 83.3 79.3 79.8 79.8 83.4 79.6 80.7 79.8 79.7 79.7 .0
Real estate and rental and
leasing....................... 2,014.2 2,025.8 2,027.2 2,034.5 2,041.7 2,062.7 2,064.0 2,063.6 2,064.1 2,063.0 -1.1
Real estate................... 1,360.7 1,372.2 1,376.9 1,384.3 1,376.8 1,394.5 1,395.7 1,397.7 1,399.3 1,400.3 1.0
Rental and leasing services... 627.1 624.4 620.3 620.6 637.9 639.0 638.3 636.0 634.4 632.3 -2.1
Lessors of nonfinancial
intangible assets............ 26.4 29.2 30.0 29.6 27.0 29.2 30.0 29.9 30.4 30.4 .0

Professional and business
services....................... 15,700 15,802 15,897 16,039 15,871 16,114 16,159 16,172 16,185 16,227 42
Professional and technical
services(1)................... 6,697.1 6,680.5 6,732.7 6,757.1 6,626.1 6,647.9 6,669.3 6,657.9 6,662.0 6,689.2 27.2
Legal services............... 1,130.9 1,131.0 1,132.4 1,131.6 1,136.1 1,142.9 1,140.5 1,138.7 1,138.6 1,137.4 -1.2
Accounting and bookkeeping
services.................... 935.2 900.4 944.1 928.2 827.7 810.6 826.6 815.2 812.6 819.0 6.4
Architectural and engineering
services.................... 1,212.1 1,216.2 1,215.6 1,226.9 1,228.7 1,233.9 1,235.2 1,236.0 1,238.8 1,244.0 5.2
Computer systems design and
related services............ 1,112.9 1,103.4 1,102.4 1,109.0 1,110.3 1,105.7 1,105.7 1,104.6 1,104.0 1,108.9 4.9
Management and technical
consulting services......... 739.1 754.8 761.9 770.3 742.8 760.6 764.0 765.4 769.0 774.5 5.5
Management of companies and
enterprises................... 1,667.9 1,661.3 1,658.6 1,659.9 1,679.2 1,671.6 1,670.2 1,675.1 1,672.6 1,670.3 -2.3
Administrative and waste
services...................... 7,335.4 7,460.6 7,505.7 7,622.0 7,565.8 7,794.5 7,819.2 7,838.5 7,850.7 7,867.2 16.5
Administrative and support
services(1).................. 7,022.1 7,147.6 7,191.0 7,304.9 7,246.3 7,473.7 7,496.3 7,517.5 7,528.3 7,544.2 15.9
Employment services(1)....... 3,114.7 3,258.1 3,311.0 3,363.6 3,240.2 3,427.6 3,461.3 3,473.8 3,496.1 3,496.6 .5
Temporary help services..... 2,069.1 2,185.7 2,231.2 2,269.4 2,163.7 2,319.4 2,355.3 2,344.3 2,372.9 2,371.1 -1.8
Business support services.... 749.5 732.0 738.0 745.9 745.7 746.7 745.1 739.0 738.8 742.7 3.9
Services to buildings and
dwellings................... 1,513.9 1,502.3 1,491.2 1,540.7 1,607.0 1,639.4 1,635.9 1,637.1 1,631.5 1,639.6 8.1
Waste management and
remediation services......... 313.3 313.0 314.7 317.1 319.5 320.8 322.9 321.0 322.4 323.0 .6

Education and health services... 16,632 16,635 16,865 16,948 16,488 16,705 16,731 16,746 16,767 16,806 39
Educational services........... 2,817.1 2,653.3 2,863.6 2,879.9 2,672.1 2,723.1 2,728.0 2,729.3 2,731.7 2,735.5 3.8
Health care and social
assistance....................13,814.7 13,982.0 14,001.7 14,068.2 13,815.9 13,981.5 14,003.2 14,017.1 14,034.9 14,070.4 35.5
Ambulatory health care
services(1).................. 4,730.8 4,824.6 4,834.4 4,856.7 4,739.2 4,818.7 4,831.0 4,840.3 4,853.8 4,865.4 11.6
Offices of physicians........ 1,987.1 2,028.7 2,028.9 2,038.9 1,990.7 2,023.3 2,030.0 2,032.3 2,033.9 2,042.4 8.5
Outpatient care centers...... 423.4 427.0 430.9 430.5 422.9 426.4 425.0 427.8 430.8 429.6 -1.2
Home health care services.... 711.6 737.2 731.8 739.8 714.0 735.7 739.9 740.2 740.4 742.8 2.4
Hospitals..................... 4,229.4 4,281.6 4,276.9 4,292.3 4,233.4 4,278.1 4,283.9 4,287.8 4,284.6 4,296.2 11.6
Nursing and residential care
facilities(1)................ 2,771.5 2,785.1 2,778.8 2,793.6 2,774.7 2,792.8 2,793.0 2,792.1 2,791.2 2,798.6 7.4
Nursing care facilities...... 1,578.9 1,576.9 1,572.2 1,580.0 1,580.4 1,584.1 1,581.7 1,580.3 1,578.8 1,582.8 4.0
Social assistance(1).......... 2,083.0 2,090.7 2,111.6 2,125.6 2,068.6 2,091.9 2,095.3 2,096.9 2,105.3 2,110.2 4.9
Child day care services...... 771.1 770.7 783.9 788.9 756.4 766.3 770.0 766.3 772.1 773.1 1.0

Leisure and hospitality......... 11,769 11,634 11,701 11,925 12,107 12,178 12,192 12,218 12,221 12,249 28
Arts, entertainment, and
recreation.................... 1,665.2 1,596.3 1,608.9 1,660.5 1,807.8 1,799.4 1,795.2 1,801.4 1,799.5 1,800.7 1.2
Performing arts and spectator
sports....................... 358.7 335.4 344.5 349.6 377.0 371.7 368.8 369.4 369.3 367.2 -2.1
Museums, historical sites,
zoos, and parks.............. 109.2 105.2 104.5 108.1 114.8 113.3 113.1 113.4 113.2 113.5 .3
Amusements, gambling, and
recreation................... 1,197.3 1,155.7 1,159.9 1,202.8 1,316.0 1,314.4 1,313.3 1,318.6 1,317.0 1,320.0 3.0
Accommodations and food
services......................10,103.6 10,037.5 10,091.9 10,264.4 10,299.6 10,378.9 10,396.3 10,416.5 10,421.0 10,448.1 27.1
Accommodations................ 1,725.0 1,659.5 1,671.1 1,692.5 1,786.7 1,751.7 1,763.0 1,752.1 1,749.4 1,749.2 -.2
Food services and drinking
places....................... 8,378.6 8,378.0 8,420.8 8,571.9 8,512.9 8,627.2 8,633.3 8,664.4 8,671.6 8,698.9 27.3

Other services.................. 5,383 5,319 5,335 5,371 5,396 5,382 5,374 5,379 5,371 5,383 12
Repair and maintenance........ 1,233.4 1,223.3 1,223.9 1,235.0 1,233.3 1,234.4 1,228.5 1,233.5 1,229.7 1,234.9 5.2
Personal and laundry services. 1,253.7 1,234.5 1,231.6 1,247.2 1,262.2 1,254.1 1,250.2 1,251.2 1,247.7 1,255.7 8.0
Membership associations and
organizations................ 2,896.1 2,861.4 2,879.2 2,888.9 2,900.2 2,893.9 2,895.7 2,894.5 2,893.8 2,892.8 -1.0

Government...................... 22,017 21,423 21,826 21,985 21,616 21,544 21,544 21,527 21,542 21,573 31
Federal........................ 2,774 2,694 2,699 2,700 2,789 2,723 2,720 2,715 2,714 2,713 -1
Federal, except U.S. Postal
Service...................... 1,961.3 1,901.9 1,909.3 1,912.6 1,972.7 1,924.9 1,928.9 1,921.5 1,922.3 1,923.0 .7
U.S. Postal Service........... 813.1 791.9 789.2 787.0 816.5 798.1 791.4 793.1 792.0 790.2 -1.8
State government............... 5,164 4,925 5,117 5,167 5,024 5,023 5,027 5,007 5,018 5,028 10
State government education.... 2,404.8 2,201.4 2,392.5 2,433.0 2,258.7 2,282.5 2,285.7 2,268.0 2,279.7 2,289.2 9.5
State government, excluding
education.................... 2,758.8 2,723.5 2,724.6 2,733.8 2,765.1 2,740.0 2,740.9 2,738.9 2,738.3 2,739.0 .7
Local government............... 14,079 13,804 14,010 14,118 13,803 13,798 13,797 13,805 13,810 13,832 22
Local government education.... 8,055.2 7,798.1 7,995.6 8,081.1 7,696.8 7,684.5 7,687.1 7,692.2 7,698.0 7,713.5 15.5
Local government, excluding
education.................... 6,023.6 6,006.2 6,014.5 6,037.1 6,106.2 6,113.1 6,109.7 6,112.7 6,112.3 6,118.8 6.5