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Where the Jobs Are, May Edition



Here is a look at which job sectors gained and lost the most jobs between May 2006 and May 2007:

The leisure and hospitality sector is still doing the heavy lifting with 6,400 new jobs, followed by government with 3,800 and professional services with 2,600.

The big three job losers are, unsurprisingly, those sectors that grew like weeds during the housing boom.

Overall job growth was positive, though not by a whole lot, at 4,200 jobs. However, according to the Bureau of Labor Statistics, the average hourly compensation in the construction industry is over twice that in the leisure and hospitality industry. Given that the big losses in construction were offset by (almost) equally big gains in leisure and hospitality, overall compensation may be growing even more slowly than the number of jobs.

-- RICH TOSCANO



A Nerd's Eye View

Rich Toscano is a financial advisor with Pacific Capital Associates*;
he also writes about San Diego real estate at Piggington's Econo-Almanac.
Contact him at rtoscano@pcasd.com.

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