“We are not where we need to be, but the economy is growing stronger. We’ll consider our job done when every family has a good income, a home of their own, and solid footing for their children. Until then, we will keep up our efforts to strengthen industries, bring investment to Guam, reform education, and develop the workforce.”— Governor Eddie Baza Calvo
March 2013 Employment Report: 1,000 Private Jobs Gained over Previous Year
“Over the year, the private sector gained 1,000 jobs in total, led by an increase of 590 jobs in Construction, followed by a gain of 420 jobs in Hotels and 220 in Transportation and Public Utilities.” — Gary Hiles, Chief Economist
Decline in Government Jobs
Opposite the increase in private sector growth, GovGuam employment dropped 100 jobs from the same period last year, or 70 over the latest quarter. Federal government employment also dropped by 80 jobs from March 2012, or 60 since December 2012.
The decline in government jobs over the latest quarter (decline of 130 total government jobs since December 2012) is the biggest reason for the decline of total employment (140 jobs) when you compare total employment in December 2012 to March 2013. Despite growth in several industries over this quarter comparison, there was a seasonal drop in the retail industry (generally, retailers hire more temporary workers in December to assist with the Christmas shopping season).
Reversal of Job Market from Last Year’s Report
This March’s report is a reversal from the March 2012 report, when there was a loss of over 1,000 jobs in the construction industry alone. The March 2012 report showed hotel jobs were slightly below the March 2011 levels of 5,410. Today’s job report shows tremendous growth in the hotel job market since that time, with 5,790 jobs in hotels. This follows consecutive months of news that tourism arrivals are breaking records.
Earnings & Hours Up over the Year, Down over the Quarter
“Private average hourly earnings, average weekly hours paid and average weekly earnings all decreased slightly in the latest quarter but remain above the comparable figures of one year ago.” — Gary Hiles, Chief Economist
*****End of Release*****
Click the underline to view the Current Employment Report- March 2013