US chems cut jobs in March but plastics, economy expand

02 April 2010 15:27  [Source: ICIS news]

HOUSTON (ICIS news)--US chemical-industry jobs declined slightly in March, but jobs in the plastics and rubber products sector increased as the broader US economy posted its biggest monthly job gain in three years, the Labor Department said on Friday.

The US chemical sector posted a seasonally-adjusted loss of 2,200 jobs, down 0.3% from February and lowering the seasonally-adjusted workforce total to 781,500.

That figure was a 4% decline from the 813,600 employed in March 2009, near the peak of the recession.

Jobs in the plastics and rubber products sector increased by 3,700, a 0.6% increase from February as the number of employed rose to 625,900.

That figure is down 2.7% from the 643,200 employed in March 2009.

Overall, the US economy added 162,000 jobs in March, compared with a revised loss of 14,000 jobs in February. The once-in-a-decade headcount by the US Census Bureau accounted for 48,000 jobs alone, while improved weather conditions also aided employers, the Labor Department said.

The unemployment rate held at 9.7% for a third consecutive month, in line with analysts’ expectations.

Manufacturing and construction employment mirrored the broader March economic trend, with jobs rising in each by 17,000 and 15,000, respectively.

Both sectors are crucial end-use markets for many chemicals and plastics.

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By: Ben DuBose
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