What types of jobs were lost during this Great Recession?
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America has lost jobs, but what types of jobs and in which industries have been hurt most?
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Answer:
To understand what types of jobs were lost during the Great Recession, it's important to understand the demographics first. Essentially who experienced higher rates of unemployment and why? One surprising statistic is the difference in unemployment rates between men and women. Men were hit much harder by the recession than women and that has much to do with the jobs involved. Some industries actually increased in employment during this time. The only industries to increase in employment during the Great Recession were Education & Health Services, Government, and Utilities. The chart below goes into exact numbers based for each sector. "()" indicates "loss." "Different Effects on Different Industries Generally, goods-producing industries experience the largest declines in employment during recessions. The 2007â2009 recession was typical in this regard, with construction and manufacturing both experiencing their largest percentage declines in employment of the post-WWII era, 13.7 and 10.0 percent, respectively (percentages expressed in annual rates, as measured from the first month to the last month of the recession).Few industries attracted as much attention during the recent recession as financial activities, which experienced a 3.9-percent reduction in employment. Before 2007, the only recession since 1939 to see job losses in financial activities was that of 1990â1991.Employment increased in education and health services during the recent recession. In fact, employment has increased in education and health services for more than 30 years, regardless of the business cycle. Employment in education and health services has decreased in only 1 of the 12 recessions that have occurred since 1945." Footnoteshttp://www.census.gov/history/pdf/greatrecession-bls.pdf
Kurt Shiple at Quora Visit the source
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