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The only other significant losses occurred in wholesale and retail trade and professional and business services, each with a loss of a bit over 200,000 jobs a year on average, and information, with a loss of about 150,000 a year.
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This sector’s nearly 30 percent aggregate job losses mesh entirely with the drop in domestic demand during this time
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Comparisons for other sectors suggest a mix of influences with slow domestic demand as the larger influence, usually by far. Jobs in machinery, for instance, fell by about 21 percent during this time. About 18 percent of that drop has a ready explanation in the behavior of demand to domestic U.S. producers.
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I have a feeling the slow recovery and drop in domestic demand with the layoffs that accompany it are the result of two phenomonon.
First the loss of manufacturing jobs. These were good paying jobs and the people that held them, traditionally spent their money which kept a lot of others employed.
The other is the loss of faith, by the great unwashed in business, thanks to ENRON and their ilk. And in Governments fiscal policy of blowing sums of money, we can't even comprehend. After all, much of capitalism runs on faith.
