US chems, plastics add jobs in Nov, first time since early 2008

04 December 2009 15:27  [Source: ICIS news]

HOUSTON (ICIS news)--For the first time since early 2008, jobs in the US chemicals and plastics industries increased month-over-month in November while the overall US unemployment rate dropped to 10% from 10.2% in October, the Labor Department said on Friday.

The US chemical sector posted a seasonally-adjusted gain of 1,100 jobs in the month, up 0.1% from October and bringing the workforce total to 803,800. That marks the first monthly gain since May 2008.

However, that figure was off 4.6% from the 842,600 employed in November 2008.

Likewise, jobs in the plastics and rubber products sector rose by 1,300, or 0.2%, raising that seasonally-adjusted workforce total to 630,400 and registering the first monthly increase since February 2008.

That number is still down 10.7% from the 705,900 jobs of November a year ago.

Overall, US non-farm payroll unemployment fell by 11,000, far under the average of 135,000 per month over the past three months and a dramatic improvement on analyst predictions of 130,000 job losses.

The construction and manufacturing sectors - both crucial end-use markets for chemicals and plastics – led the overall decline. Job losses in construction totalled 27,000 in November, with job losses particularly concentrated among non-residential specialty trade contractors, the Labor Department said.

Manufacturing shed 41,000 jobs in November, with a particular contraction in durable goods, according to the department.

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By: Ben DuBose
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