From Kimberly Amadeo,
Your Guide to US Economy.
FREE Newsletter. Sign Up Now!

The Bureau of Labor Statistics reports U.S. Employment monthly. However, they tend to focus on the gain or decline from the previous month. This does not take into account seasonal variations, such as teachers who go on vacation in the summer. For this reason, a better way to look at employment statistics is year-over-year.

In addition, manufacturing jobs provide a better indication of the true health of the economy. That is because factories are less likely to add workers until they have the orders in hand. This provides a better leading indicator of future economic performance than does service employment, which stays more consistent through thick and thin.

2008 Employment Statistics

April: April Y-O-Y Employment Shows Economy Slowing Further - The economy lost 20,000 jobs from the prior month, but only gained .18% year over year, showing a worsening trend.

March: March Job Loss Report - How It Affects You - The economy lost 80,000 jobs since last month, the worst loss since the last recession.

February: February Job Loss Could Signal Recession - The economy lost 63,000 jobs in February when compared to January, and only gained .4% when compared year-over-year.

January: January Employment Decline Further Signal of Weak EconomyFor the first time since 2003, the economy lost jobs (16,000), and year-over-year growth was only .6%.

2007 Employment Statistics

December: December Employment Drops to New Low - In December, only 18,000 new jobs were added and unemployment rose to 5%. Year-over-year, jobs increased only 1%, while manufacturing jobs were down 1.5%. This was the worst performance this year.

November: November Employment Worsens - In November, only 94,000 new jobs were added, an increase year-over-year of only 1.1%, the worst since 2004. Manufacturing jobs were down 1.3% from the prior year.

October: Employment Situation Gradually Worsening - Although the economy added 166,000 new jobs from September to October, year-over-year was up only 1.2%, the worst since 2004. Manufacturing jobs also continued their worsening trend, down 1.6% since the prior year.

September: Employment Edges Up - Jobs increased 1.2% year-over-year, the weakest job growth since 2004, and increased 110,000 from the previous month. Manufacturing jobs declined 1.6% from the year before.

August: Manufacturing Job Slump Spreads to Overall Economy - Since the previous month, 4,000 jobs were eliminated in the overall economy, while year-over-year jobs only increased by 1.2%. Manufacturing jobs declined 1.5% from the year before.

July: Manufacturing Jobs Into 10-Month Slump - Only 92,000 jobs were created in July, which resulted in a 1.4% increase from the year before. Manufacturing jobs declined 1.2% from the year before.

June: Manufacturing Job Slump - 9 Months and Counting - Although jobs overall increased 1.5% year-over-year, manufacturing jobs declined 1.3%.

May: Manufacturing Jobs Continue 8-Month Slump - There were 1.2% fewer manufacturing jobs than the year before, despite an increase of jobs overall of 1.5%.

April: Manufacturing Jobs Continue to Weaken - Although jobs increased 1.4%, manufacturing jobs declined 1.1% year-over-year.

March: Job Growth Is Weakening, Thanks to Manufacturing Decline - Employment increased 1.4%, dragged down by a .6% decline in manufacturing jobs.