Labor Market Has Suffered Most Wrenching Changes In A Generation
When Labor Day arrives Monday, it will be celebrated by a work force that has changed radically since the same holiday in 2008.
Over the past year, the labor market has suffered its most wrenching changes in a generation, shedding millions of jobs and changing the profile of the more than 131 million people who head to work every day.
American workers are older than they used to be, working fewer hours at cash-strapped companies and less likely to be unionized. And far more are now out looking for a job, and spending longer periods of time on the job hunt.
The rapid change has come on top of longer-term transformations. In 1959, nearly 30 percent of all nonfarm workers had manufacturing jobs -- by last month, that had fallen to 9 percent. Eighty years ago, about 20 percent of Americans worked on farms. Now it's less than 2 percent.
As Americans left behind farms and factories, they donned the service-sector attire of aprons, neckties and telephone headsets, with about 36 percent of the work force now employed in the service sector.
While changes have been obvious, it's less clear what will be around the corner for U.S. workers. Analysts expect a long period of joblessness to continue, with the unemployment rate not returning to pre-recession levels until 2013 or later.
The big question is what kind of jobs will appear to replace those lost forever in the hard-hit financial services and construction sectors.
Here's a look at the changing U.S. labor force, by the numbers.
A HORRIBLE YEAR
4 percent: The total decline over the last year in the U.S. nonfarm payroll, which stands at 131.5 million people.
9.4 percent: The current unemployment rate, up from 4.7 percent when the recession began.
33.1 hours: The length of the average workweek as employers cut hours, near a the lowest level in records dating to 1964.
6.7 million: The number of jobs lost since the recession started in December 2007.
A DAY IN THE LIFE
2.8 percent: The share of people who are at work by 5 a.m.
7.6 hours: The length of the average workday.
20 percent: Share of employees who do all or some of their work at home.
48.6 minutes: The average daily travel time for commuters and traveling workers.
76 percent: Percentage of workers who drive alone to work.
CHANGING JOB MARKET
18 percent: The total decline over the last year in construction jobs, which fell to 6.1 million.
4.67 percent: Share of the U.S. labor market held by construction workers last year, down from 5.4 percent as the housing bust intensified last summer.
7.7 million: Number of workers with more than one job, about 5 percent of the work force.
6 percent: Decline in the number of workers in the financial sector over the last year, with 7.7 million remaining as of July.
587,000: Number of registered nursing positions expected to be created between 2006 and 2016.
CHANGING WORK FORCE
40 percent: The share of workers over age 55 who have a job or are seeking a job, the highest level since it was 40.8 percent in 1961, according to a recent Pew Research Center survey.
57 percent: The share of workers between age 16 and 24 who are in the labor market, down from 66 percent in 2000. Many are waiting out the downturn by going to school.
16 million: The number of wage and salaried workers who are unionized, down from 16.3 million in 2000.
4.28 percent: Percentage of work force in management jobs.
0.19 percent: Percentage of workers who are chief executives.
$136,890: Mean annual wage of chief executives.
$52,290: Mean annual wage of elementary school teachers.
$72,870: Mean annual wage of industrial engineers.
$102,390: Mean annual wage of dentists.
$46,920: Mean annual wage of all occupations.
Sources: U.S. Bureau of Labor Statistics and U.S. Census Bureau, unless otherwise noted.
Thursday, September 3, 2009
Work Force Radically Changed Since Last Year
In the September 3, 2009 article "Work Force Radically Changed Since Last Year," Associated Press business writer Christopher Leonard reports: