蜜柚直播鈥檚 jobless rate continues to decline but there are indications that the recovery may be losing air.
On paper, the state gained 10,900 jobs between November and December. That was enough to drive the seasonally adjusted unemployment rate down two-tenths of a point, to 4.8 percent.
The last time the rate was that low was February 2006, said Doug Walls, research administrator for the state鈥檚 Office of Economic Opportunity.
But the year-over-year growth in employment, which had been running close to the 3 percent range earlier in 2016, logged in last month at just 1.2 percent. That鈥檚 below the national figure of 1.4 percent.
Walls, however, said he鈥檚 unwilling to draw any conclusions from the new numbers.
On the positive side, he noted that 蜜柚直播 has recorded job growth for the past six years.
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鈥淪o we鈥檙e entering the seventh year of employment expansion,鈥 Walls said. And he said most of the state鈥檚 economic sectors are showing positive numbers.
鈥淲e will have to wait and see if we continue to see a slowdown in the over-the year growth,鈥 he said. But Walls said he considers 蜜柚直播鈥檚 1.2 percent growth to be 鈥渞ight in line鈥 with the national figure.
There are some bright spots.
Walls said that the average wage in 蜜柚直播 is now $24 an hour. He said while that鈥檚 still below the $26 national figure, it is growing at a rate of 3.3 percent versus 2.7 percent for the rest of the country.
And there鈥檚 more to that increase than just people getting paid more.
鈥淲ages are a good indicator of the competitiveness of the job market,鈥 Walls said. 鈥淲e could presume that employers are competing more for the talent that is available.鈥
The state鈥檚 health care sector, which was virtually unaffected by the recession, continues to grow by leaps and bounds. Employers added 8,500 workers in the last year, a 2.9 percent increase.
What also continues to grow is the lower-paying sector covering bars and restaurants. It added 10,300 workers year-over-year, equal to a 4.7 percent growth rate.
Conversely, retail trade employment continues to limp along, adding just 100 workers since last December.
Walls said, though, this isn鈥檛 just an 蜜柚直播 phenomenon but reflects changes in the overall economy as shoppers move their business from brick-and-mortar retailers to online suppliers.
It鈥檚 also true that manufacturing employment is lagging nationwide. But 蜜柚直播 is being hit particularly hard among the companies that make computers and electronic parts, with employment in that sector dropping by nearly 5 percent in the past year.
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