The Bureau of Labor Statistics today reported a loss of 25,300 jobs in the Finance and Insurance sector for March, a smaller drop than the 33,100 loss predicted by WANTED Technologies. This is the second straight month of decreasing job losses in this sector reported by the BLS, following a revised report for February of 27,100 jobs lost. This trend is consistent with WANTED's data, which indicates the worst of the employment decline in that industry may be over.
Click chart to view full size
Taking a look at the data by smaller units as defined by NAICS codes, WANTED's data shows a tick downward in new job ads for employment in NAICS code 522, credit intermediation and related services in banking. Job ads are now down nearly 37% year-over-year, although still above the 40% decline we saw in November.
We have no good news this month for jobs in NAICS 523, securities, commodity contracts and other financial investments — the brokerage community. After an upward tick last month, our data shows another drop–job ads are now down over 50% year-over-year.
And finally, the data shows that new job ads for NAICS 524, insurance carriers and related services, has twice bounced back from a floor of roughly negative 40% year-over-year. BLS reports a loss of only 2,100 jobs in this sub-sector, less than WANTED's forecast of 7,400 jobs lost.
Click chart to view full size
Click chart to view full size
Click chart to view full size
|
|
All Entries