Nonfarm payroll employment increased by 166,000 in November, although about half the gain can be attributed to special circumstances, including a longer-than-usual survey period and the introduction of new seasonal adjustment factors. Substantial job declines in manufacturing, coupled with frigid weather that flattened construction employment, resulted in a negative figure in the goods-producing sector. Durable and nondurable goods experienced identical declines of 16,000 jobs in November. However, year-to-date losses have been much more severe in nondurable goods industries, particularly apparel.
Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 95-12, pp. 11, 12.01.1995.