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Labor Markets

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The downward trend in payroll employment continued in April, with a net loss of 223,000 jobs. As in March, large job losses occurred in manufacturing and help supply services. In a notable departure from previous trends, however, the overall service-producing sector lost 59,000 jobs; more specifically, the services industry lost more than 120,000 jobs. Construction also sustained large employment losses.

Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-05, pp. 12, 05.01.2001.

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