Unemployment Rates per Industry in 2010 (continuation)
Leisure and Hospitality – 12.2%
This industry includes arts, entertainment and recreation, food services and drinking venues, hotels and other entertainment forms and podiums. The industry is characteristically seasonal, which can likewise be dependent on consumers' buying whims and financial capabilities. It can be noted that the retail trading sector disclosed large numbers of displaced workers engaged in the reselling of electronic devices and appliances, food and beverage, as well as sporting goods, hobby, books & music materials.
In addition, the majority of consumers have very little free time to engage in recreation and luxury; instead, they would rather spend whatever spare time they have on other income-earning opportunities or in some inexpensive form of relaxation.
Professional and Business Services – 10.8%
This workforce category includes the professional, scientific and technical service providers who perform specialized activities that require some degree of expertise and training. This includes legal services, accounting, tax preparation, bookkeeping and payroll services. Architectural, engineering and related services are likewise included in relation to conceptualization of specialized design and computer systems and designs.
Competency and professional expertise are largely required in these professions since they are relied upon to provide efficient and reliable support to the other business industries. Otherwise, companies resort to outsourcing the work to offshore BPOs (business processing organizations).
Mining, Quarrying and Gas Extraction – 10.8%; this went down to 8.5% in January 2011.
Similar to other industries, the hiring trends in the mining sector are significantly affected by advancements in technology. The use of sophisticated techniques as a means of increasing productivity and allowing more flexibility entails harnessing fewer manpower resources. The advent of lasers and robotically operated devices for drilling and extraction has replaced some of the manual work performed by traditional mining workers. All these resulted not only in increased efficiency but also fewer accidents and casualties.
Manufacturing – 10.6%
The manufacturing industry is broad and wide ranging and includes aerospace and defense, chemicals, computer and electronic products, food and beverage, machinery, motor vehicle parts, pharmaceutical, steel, textile and apparels. They are categorized either as durable or non-durable goods. Of these products, the aerospace and defense sector has dominated the manufacturing scene but the competencies required from the workforce are highly specialized.
Hiring in the food and beverage sector has suffered greatly due to the changing behavior in consumers’ buying habits and attitudes. The buying public has generally matured since most buyers are now conscious about food values, maximization of buying power, and wariness against cancer-causing additives as well as genetically modified products. In addition, a large number of consumers are making use of discount coupons; hence, buying choices have been directed to products that offer some form of return for their patronage.
Packaging has likewise affected consumers’ attitude toward products since local authorities have imposed stricter rules in garbage disposal as part of the government’s initiative to solve the mounting problems of waste management.
Please proceed to the next page for more information about job loss statistics in five other industries.