Recent employment data were worse than expected and disappointing overall, says the American Chemistry Council (ACC; Arlington, Va.; www.americanchemistry.com) in its latest Weekly Chemistry and Economic Report.
Nevertheless, ACC says, other data were more positive, and “a slow recovery is occurring.”
Citing U.S. Bureau of Labor Statistics information, ACC said “private sector employment gains were tepid” across the wider economy. In the business of chemistry, overall employment fell by 0.2% in July, ACC reports. Compared to a year ago, chemistry payrolls in the U.S. are 2.4% lower. Since the start of the recession, chemical industry payrolls have fallen by 9.3%.
Based on other economic reports out this week, it appears that consumer spending increased, but incomes were flat, ACC says, and construction spending showed a small gain, due to spending on public projects offsetting declines in private construction spending. Vehicle sales were at their highest level of the year, but remain weak compared to the years before the economic slowdown.