Where are the worst job declines expected?
The U.S. manufacturing sector will remain in turmoil through much of the year. General Motors and Chrysler are shedding tens of thousands of jobs, and it may take years for foreign auto makers to pick up many of those workers from U.S. plants. Construction remains depressed given the severity of the housing downturn, and a further drop in construction jobs could come as commercial building slows. Also, the financial-services sector is expected to continue shedding workers. Which employers are adding jobs? Health care remains the most resilient sector as demand for nurses and other medical workers continues high. Education also remains relatively strong, though some local governments are starting to cut payrolls for their schools. The federal government is seeing a surge in hiring — including about 1.4 million workers for the 2010 Census. (See this week’s Starting Out column.) “Government has become quite large and the size of government will not be reduced for several years, if then,”
