Daily Three: Duration of Unemployment, Goods-Producing Industry Employment Falls and Health Care and Social Assistance Industry Projected to be Largest Employer by 2024
- With the unemployment rate at 5.0%, 7.9 million individual are unemployed. Of that total 58.1% have been unemployed 14 weeks or less, 16.2% 15 to 26 weeks and 25.7% longer than 26 weeks. Bureau of Labor Statistics
- In April employment in the goods-producing industry fell for the tenth time over the last four years. Over the same period the service-providing industry has never seen a monthly decline in employment. Bureau of Labor Statistics
- By 2024 the health care and social assistance industry is expected to employ more individuals than any other major industry sector. The sector overtook manufacturing and retail over the past dozen years and it is anticipated to top professional and business services and state and local government sometime over the next eight years.