Malaysia’s new prime minister says a regional travel bubble, including the 10 members of ASEAN and China, would help business and tourism recover from the effects of the coronavirus pandemic. There has been a mixed response from the region’s tourism and business communities.

Malaysia is already planning to reopen its resort islands to domestic visitors next month and hopes to allow foreign tourists back next year.

PM Ismail Sabri Yaakob said on Friday ASEAN and China should consider the cross-border travel bubble for fully vaccinated tourists. “By doing this, we will be in a much better position to revive not only the tourism industry, but also our people-to-people connectivity,” he said.

Some industry insiders have poured cold water on the plan. Beijing has said there will be no outbound travel from China until after the second quarter of next year, news agencies reported last week.

“So far Singapore and Hong Kong have announced travel bubbles four times and cancelled each – and finally its dead in the water,” said Bill Barnett a Phuket, Thailand-based hospitality, tourism and real estate adviser. “Forget bubbles, the Sandbox from Phuket is proven to be a model that works. Vietnam has announced that Phu Quoc will have a similar programme in October for international vaccinated travellers so for now,  it’s all about islands, not bubbles,” he said.

Other travel experts are more optimistic.  “I fully support the work that the new Malaysian PM brought up. I think opening up the closed borders of Asia is very important now for vaccinated tourists. I have been advocating this and chasing the Cambodian government for the last eight months… this would be good, not just for tourism, but all the economy as well,” said Sinan Thuorn, the Cambodia Chairman of the Pacific Asia Travel Association (PATA), who welcomed Malaysia’s suggestion of including China in the travel bubble plan. “You know how many million Chinese tourists have been travelling around the world so Chinese have been one of the big markets here in terms of the tourism industry,” he said.

The ASEAN-China travel bubble would only apply to travellers who have received at least two Covid-19 vaccinations. Ismail Sabri said ASEAN and China should work on the mutual recognition of vaccine certificates. The Malaysian PM’s comments came in a pre-recorded speech at the opening of the China-ASEAN Expo and China-ASEAN Business and Investment Summit, held in Nanning, the capital of south China’s Guangxi Zhuang Autonomous Region. He said the plan would not just help the tourism industry but also help businesses by keeping supply chains flowing to provide essential goods and services. “This is critical for small and medium enterprises, which form the backbone of our economy.”

ASEAN overtook the EU as China’s largest trading partner last year. ASEAN is set to join China, Australia, Japan, New Zealand and South Korea in the Regional Comprehensive Economic Partnership next year, creating the world’s biggest trade zone, with tariffs cut by as much as 90 percent on most products.

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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Dismal August jobs report calms taper fears

* Leisure, retail employment disappoint; cruise liners slump

* Banking stocks slide, shrug off jump in bond yields (Recasts, updates prices to close)

Sept 3 (Reuters) – The Nasdaq closed Friday at a fresh record but Wall Street’s main indexes headed into the Labor Day weekend in mixed fashion, reacting to a disappointing U.S. jobs report which raised fears about the pace of economic recovery but weakened the argument for near-term tapering.

A majority of the 11 S&P sectors ended lower, with the energy and financial indexes among those finishing in the red.

Banking stocks, which generally perform better when bond yields are higher, dropped even as the benchmark 10-year Treasury yield jumped following the report.

“The number’s a big disappointment and it’s clear the Delta variant had a negative impact on the labor economy this summer,” said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.

“You can tell because leisure and hospitality didn’t add any jobs and retail actually lost jobs. Investors will conclude that perhaps this will put the (Federal Reserve) further on hold in terms of the timing of tapering. Markets may be okay with that.”

Among the biggest decliners on the S&P 500 were cruise ship operators, including Norwegian Cruise Line Holdings, Carnival Corp and Royal Caribbean Cruises, whose businesses are highly susceptible to consumer sentiment around travel and COVID-19.

The S&P 500 and the Nasdaq had scaled all-time highs over the past few weeks on support from robust corporate earnings, but investors have remained generally cautious as they watch economic indicators and the jump in U.S. infections to see how that might influence the Fed and its tapering plans.

The labor market remains the key touchstone for the Fed, with Chair Jerome Powell hinting last week that reaching full employment was a pre-requisite for the central bank to start paring back its asset purchases.

On Friday, the Labor Department’s closely watched report showed nonfarm payrolls increased by 235,000 jobs in August, widely missing economists’ estimate of 750,000. Payrolls had surged 1.05 million in July.

Despite a number well outside the consensus estimate, the overall reaction of investors was muted, continuing a trend over the last year of a decoupling of significant S&P movement in the wake of a wide miss on the payrolls report.

Unofficially, the Dow Jones Industrial Average fell 74.47 points, or 0.21%, to 35,369.35, the S&P 500 lost 1.41 points, or 0.03%, to 4,535.54 and the Nasdaq Composite added 32.34 points, or 0.21%, to 15,363.52.

The Nasdaq, registering a fifth daily gain in the last six sessions, was boosted by technology heavyweights, including Apple, Alphabet, and Facebook. Tech stocks tend to perform better in a low interest-rate environment.

Chinese ride-hailing firm Didi Global gained after a media report that the city of Beijing was considering moves that would give

  • Dismal August jobs report calms taper fears
  • Leisure, retail employment disappoint; cruise liners slump
  • Banking stocks slide, shrug off jump in bond yields
  • Indexes: Dow slips 0.21%, S&P down 0.03%, Nasdaq gains 0.21%
  • For the week: Dow slips 0.2%, S&P up 0.6%, Nasdaq 1.6% higher

Sept 3 (Reuters) – The Nasdaq ended Friday at a new peak but the other main Wall Street indexes fell, reflecting the mixed sentiment stemming from a disappointing U.S. jobs report which raised fears about the pace of economic recovery but weakened the argument for near-term tapering.

On the final day of trading before the Labor Day weekend, both the S&P 500 and Dow benchmark posted marginal declines, tempering the former’s positive weekly performance and extending the latter’s run of losses to four in the last five sessions.

For the Nasdaq though, registering a fifth win in the last six sessions and a weekly gain of 1.6%, investors’ support of heavyweight technology stocks – which tend to perform better in a low interest-rate environment – continues to drive it higher.

Apple (AAPL.O), Alphabet (GOOGL.O), and Facebook (FB.O) all rose between 0.3% and 0.4%.

“Tech has become bullet-proof,” said Mike Mullaney, director of global market research at Boston Partners.

“It’s the anti-COVID sector, where you want to be if you think COVID or a lack of growth is going to be an issue.”

The virus, and its impact on the pace of economic recovery, was evident in the Labor Department’s closely-watched report which showed nonfarm payrolls increased by 235,000 jobs in August, widely missing economists’ estimate of 750,000. Payrolls had surged 1.05 million in July. read more

“The number’s a big disappointment and it’s clear the Delta variant had a negative impact on the labor economy this summer,” said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.

“You can tell because leisure and hospitality didn’t add any jobs and retail actually lost jobs. Investors will conclude that perhaps this will put the (Federal Reserve) further on hold in terms of the timing of tapering. Markets may be okay with that.”

The S&P 500 and the Nasdaq had scaled all-time highs over the past few weeks on support from robust corporate earnings, but investors have remained generally cautious as they watch economic indicators and the jump in U.S. infections to see how that might influence the Fed and its tapering plans.

A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. REUTERS/Andrew Kelly

The labor market remains the key touchstone for the Fed, with Chair Jerome Powell hinting last week that reaching full employment was a pre-requisite for the central bank to start paring back its asset purchases.

Among the biggest decliners on the S&P 500 were cruise ship operators, whose businesses are highly susceptible to consumer sentiment around travel and COVID-19. Norwegian Cruise Line Holdings (NCLH.N), Carnival Corp (CCL.N) and Royal Caribbean Cruises (RCL.N) all fell between 3.4% and 4.4%.

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Dismal August jobs report calms taper fears

* Leisure, retail employment disappoint; cruise liners slump

* Banking stocks slide, shrug off jump in bond yields

* Indexes: Dow off 0.1%, S&P up 0.04%, Nasdaq gains 0.19% (Updates prices)

Sept 3 (Reuters) – Wall Street’s main indexes offered mixed performances in the wake of Friday’s disappointing U.S. jobs growth data, which sent the Dow lower on fears about the pace of economic recovery but boosted the tech-heavy Nasdaq as the argument for near-term tapering was weakened.

A majority of the 11 S&P sectors were down by early afternoon, with energy and financial stocks leading declines.

Banking stocks, which generally perform better when bond yields are higher, dropped 0.4% even as the benchmark 10-year Treasury yield jumped following the report.

“The number’s a big disappointment and it’s clear the Delta variant had a negative impact on the labor economy this summer,” said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.

“You can tell because leisure and hospitality didn’t add any jobs and retail actually lost jobs. Investors will conclude that perhaps this will put the (Federal Reserve) further on hold in terms of the timing of tapering. Markets may be okay with that.”

Among the biggest decliners on the S&P 500 were cruise ship operators, whose businesses are highly susceptible to consumer sentiment around travel and COVID-19. Norwegian Cruise Line Holdings, Carnival Corp and Royal Caribbean Cruises were between 3.5% and 4.9% lower.

The S&P 500 and the Nasdaq had scaled all-time highs over the past few weeks on support from robust corporate earnings, but investors have remained generally cautious as they watch economic indicators and the jump in U.S. infections to see how that might influence the Fed and its tapering plans.

The labor market remains the key touchstone for the Fed, with Chair Jerome Powell hinting last week that reaching full employment was a pre-requisite for the central bank to start paring back its asset purchases.

On Friday, the Labor Department’s closely watched report showed nonfarm payrolls increased by 235,000 jobs in August, widely missing economists’ estimate of 750,000. Payrolls had surged 1.05 million in July.

By 1:48 p.m. ET (1748), the Dow Jones Industrial Average fell 35.51 points, or 0.1%, to 35,408.31, the S&P 500 gained 1.64 points, or 0.04%, to 4,538.59 and the Nasdaq Composite added 29.21 points, or 0.19%, to 15,360.39.

The Nasdaq was boosted by technology heavyweights, including Apple, Alphabet, and Facebook, which were between 0.2% and 0.5% higher. Tech stocks tend to perform better in a low interest-rate environment.

Chinese ride-hailing firm Didi Global gained 2.5% after a media report that the city of Beijing was considering moves that would give state entities control of the company.

Biotechnology firm Forte Biosciences slumped 81.8% to be among the top decliners across U.S. exchanges after its

Having a mixed COVID-19 vaccine — two shots but with different vaccines — may do more than impede your travel plans. It could hurt your chances of working abroad. 

Several countries don’t recognize people with mixed doses as being fully vaccinated.

That’s the general position in the United States where the Centers for Disease Control (CDC) currently doesn’t condone mixing COVID-19 vaccines. 

Canadians can fly to the U.S. without showing proof of vaccination. However, many cruise lines departing the country have vaccination requirements — which are based on CDC guidelines. 

As a result, some Canadian cruise ship workers say they lost out on jobs because they weren’t considered fully vaccinated due to their mixed vaccines. 

“It was really heartbreaking,” said dancer Rosie Harbans of Toronto who performs in cruise ship shows. “This is how I make my money. This is how I live my life. This is my livelihood.”

Last year, Harbans’ cruise ship contract was cut short after the pandemic forced the cruise industry to shut down in March 2020. 

So she was thrilled to land a job starting next month with a cruise line. But she said her joy — and her job offer — disappeared after the cruise company learned she had mixed COVID-19 doses: one Pfizer and one Moderna.

“I was very, very upset, because I thought that getting a mixed vaccine was the right thing to do,” said Harbans. 

Cruise ship dancer, Rosie Harbans of Toronto said she was heartbroken to discover she couldn’t accept a job on a cruise ship because she has a mixed COVID-19 vaccine. (Yasmin Parodi)

To protect their future employment, CBC News has agreed to not name the cruise line involved in Harbans’ case or in the case of a second cruise ship entertainer interviewed for this story. 

Both said they don’t blame the cruise lines, and that they are speaking out to encourage the Canadian government to push for the acceptance of mixed vaccines internationally. 

“Find a solution,” said Harbans. “Try and do it as quickly as possible for all of the people that took [the government’s] advice in getting a mixed vaccine.”

Since mid-July, the federal government has repeatedly said it’s working with other countries to resolve their differing vaccine policies. But Ottawa has yet to announce any progress on that front. 

No international consensus on mixed vaccines

Millions of Canadians have received mixed COVID-19 vaccines. That’s because in June, Canada updated its guidelines to recommend mixing COVID-19 vaccine doses based on emerging research that found it was both safe and effective.

But there’s currently no international consensus on mixing COVID-19 vaccines. 

For example, according to their government websites, both Ireland and the United Kingdom don’t recognize any combination of mixed COVID-19 vaccines. 

Germany and Trinidad and Tobago only recognize a mix of AstraZeneca and Pfizer or Moderna. The World Health Organization (WHO) takes the same position — with a cautionary note.

“There is currently limited data on the immunogenicity or efficacy of a ‘mix


Joe Raedle/Getty Images

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Businesses and school districts say they want to hire. So why aren’t they? It’s an important puzzle, and anyone interested in the answer should focus on what’s happening in the manufacturing sector.

Consider the job numbers released last week, which weren’t just disappointing, but also confusing. Outside of leisure and hospitality and personal services, the private sector shed 157,000 payroll jobs in April. And while the weakness in sectors such as home building and motor-vehicle manufacturing can be attributed to shortages of specific inputs such as lumber and microprocessors, that doesn’t explain why hiring in the rest of the economy was so poor even as consumer spending is still at all-time highs.

The latest Job Openings and Labor Turnover Survey, or Jolts, from the Bureau of Labor Statistics only deepens this confusion. The total number of posted openings hit its highest level ever in March, up 8% from February. That’s a remarkable number—and the high-frequency data from Indeed’s Hiring Lab suggest that the demand for workers has continued to rise since the March Jolts data were collected.

Without any additional context, this would imply that the U.S. economy is running incredibly hot. So why hasn’t hiring picked up to meet demand?

One possibility is that the job market isn’t as hot the openings data imply, especially relative to the number of Americans who want jobs. Excluding people who said they were on temporary layoff and expected to be recalled—but including the millions of Americans who temporarily dropped out of the labor force—there were about 1.43 unemployed Americans per job opening in March. That’s down from 2.8 jobless per job opening back in April 2020, but far higher than the ratio of 0.7 that prevailed in the year before the pandemic. 

Another possibility is that some jobless workers are staying out of the labor force because they can earn more from unemployment benefits than from the jobs that are available. While that may be true in some places and in some cases, the biggest payroll gains in April were in the lowest-paying sectors. Moreover, those were the sectors that also saw the biggest wage increases, which suggests that businesses have been able to draw workers back by offering better pay.

The impact of enhanced unemployment insurance could also be obscured by the pandemic itself. At first, the virus increased the physical risk of many occupations and also limited access to child care for many working parents, thereby reducing labor supply. But as the pandemic recedes thanks to progress on vaccinations, Americans who had been unwilling or unable to work should return to employment as long as demand holds up. The improving public health situation may have offset much of the impact of enhanced jobless benefits on leisure and hospitality employment over the past couple of months, for example.

Jed Kolko,
chief economist at Indeed, said that measuring the relative importance of these countervailing forces is probably impossible “without hindsight and near-academic-level analysis.”

The

Panorama of the Denver skyline at night

Colorado business is leading in some areas but is lagging in others, according to a report released today by CU Boulder and Colorado Secretary of State Jena Griswold.

The Quarterly Business and Economic Indicators report is prepared by the Leeds Business Research Division (BRD) at CU Boulder in Conjunction with the Colorado Secretary of State’s Office. The latest report shows a record 44,740 new corporations, nonprofits and other entities filed initial documents with the Colorado Secretary of State’s Office in the first quarter of 2021.

First-quarter filings tend to record the highest numbers, but the 29.2% increase from the previous quarter demonstrates a spike beyond trend growth. Existing entity renewals also increased just slightly with 173,970 filings, a 1% increase year-over-year.

“Colorado is poised to make a full job recovery from the recession by 2022. But many Coloradans still are struggling from job loss due to COVID-19,” said Colorado Secretary of State Jena Griswold. “The state’s economy is building momentum, and I am hopeful that it will continue.”

Dissolution filings also reached a record-high 10,658 businesses in the first quarter of 2021, but the growth in dissolutions slowed. The spike in dissolutions during the last recession occurred after the official end of the recession in 2011.

Next for Colorado economy

While many industries have rebounded well from the recession, the leisure and hospitality sector continues to face challenges, accounting for 46% of jobs lost year-over-year. The BRD is projecting Colorado will add 90,000 jobs in 2021, with continued growth into 2022.

“This growth trend in the labor force could lead to a full jobs recovery from the recession in 2022,” said Richard Wobbekind, senior economist and faculty director of the Leeds Business Research Division. “But there are other statistics that show Colorado still has some progress to make in economic recovery.”

Colorado’s labor force growth ranked first in the country, and the state’s per capita personal income is 10th-highest at $63,123. However, at 6.4%, Colorado’s unemployment rate––0.4 percentage points higher than the national unemployment rate of 6%––ranks 34th, and the state’s average hourly wage growth rate ranks 46th. 

Improvement in the energy sector is also noted in the report: the number of rigs in Colorado increased from an average of 7 in December 2020 to 10 in April 2021. While this is significantly lower than an average of 30 rigs in 2019, the jump reflects a positive trend from recession lows.

Wednesday, May 5, 2021

On this Cinco de Mayo (a minor holiday in Mexico celebrating the victory at the Battle of Puebla, but a sort of Mexican St. Patrick’s Day in the States), we see monthly private-sector payroll figures for the month of April from Automatic Data Processing ADP ahead of today’s market open. A headline of 742K new private-sector jobs were generated last month — impressive, but below the 800K analysts were expecting.

This difference was mostly made up in the +48K revision to March’s private-sector payroll total, now 565K. The trailing 3-month average of 490K jobs per month is now the highest level since last fall, and seemingly headed in the right direction. Goods-producing jobs in the private sector reached 106K for the month, while Services brought in 636K new jobs.

Leisure and Hospitality once again led the way with 237K new hires — though many of these may still be hire-backs from an industry decimated over the past year with “shelter in place” initiatives. Trade and Transportation came in with 155K positions filled, Professional and Business Services was 104K and Education/Healthcare hit 92K. Manufacturing generated 55K new positions, Construction 41K and Mining 10K.

Expectations for Friday’s nonfarm payroll totals are for a solid million new hires for the month of April, which would be the most since last August’s late summer reopening brought 1.58 million. However, with vaccinations continuing (but slowing) and states lifting their bans on public congregating just in time for summer, we expect these figures to only climb higher from here. Even if 1 million is not reached for the mark, we’ve already come a long way from -306K jobs posted in December.

General Motors GM is getting a lift from its Q1 earnings results this morning, even though the top and bottom lines came in mixed from Zacks consensus estimates: $2.03 per share nearly doubled the expected $1.02, more than 3x the year-ago’s 62 cents per share reported. On the revenues side, $32.5 billion missed the $33.26 billion anticipated by analysts, although full-year net revenues were guided higher: between $10-11 billion by the end of 2021.

This has made early traders bullish on GM stock during a morning when buying activity is taking advantage of improved valuations throughout the market. GM shares are currently up around 3.5% in early trading, and +37% year to date. Even with chip shortages projected to take a bit out of new auto deliveries everywhere in the industry, GM’s outlook is positive. The trailing 4-quarter average earnings beat is above 100%, and the company has only missed on earnings once in the past five years.

Questions or comments about this article and/or its author? Click here>>
 

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.

Zacks has just released

LANSING, Mich. (WLUC) – Not seasonally adjusted jobless rates edged down slightly in 10 of Michigan’s 17 major labor market areas during March, according to data released Thursday from the Michigan Department of Technology, Management & Budget. Unemployment rates inched up in three regions and remained unchanged in four areas.

“Michigan regional jobless rates displayed little change in March,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives. “Nonfarm job levels advanced modestly in nearly all Michigan metro areas over the month.”

Michigan regional unemployment rate changes were minor in March, with monthly rate decreases ranging from 0.1 to 0.3 percentage points. Minor rate advances were observed over the month in the Detroit, Lansing, and Ann Arbor metropolitan statistical areas (MSAs). The Grand Rapids, Kalamazoo, and Midland MSA rates, as well as the Upper Peninsula region rate, were all unchanged in March.

  • Regional unemployment rates increase over the year
    • Jobless rates rose over the year in 15 of Michigan’s 17 major labor market regions, with a median increase of 1.8 percentage points. The Muskegon metro area recorded the largest over-the-year rate gain of 2.9 percentage points.
  • Total employment up over month, down over year
    • Regional total employment levels rose over the month in 14 Michigan labor market areas. Employment advances ranged from 0.1 to 1.7 percent, with a median increase of 0.4 percent. The largest over-the-month employment addition occurred in the Detroit MSA. Employment edged down slightly in the Muskegon and Flint MSAs and remained unchanged in the Grand Rapids metro region.
    • All 17 Michigan major labor market areas exhibited employment declines over the year with a pronounced median employment cut of 5.0 percent. The Lansing MSA exhibited the largest over-the-year decline, with employment down by 7.2 percent since March 2020.
  • Workforce levels mixed over month, down over year
    • Regional labor force levels advanced in 10 Michigan areas during March, with a median increase of 0.4 percent. The largest workforce addition occurred in the Detroit metro area. Workforce levels fell in five regions, led by the Muskegon MSA (-0.5 percent). The labor force levels in Bay City and Kalamazoo remained unchanged over the month.
    • All 17 regions exhibited labor force decreases over the year, with a median reduction of 3.1 percent. The largest over-the-year percent decline occurred in the Detroit metro area.
  • Nonfarm employment increases slightly in March
    • The monthly survey of employers indicated that not seasonally adjusted Michigan payroll jobs edged up in March by 33,000, or 0.8 percent, to 4,090,000. Employment increases were seen in most statewide industries, led on a numerical basis by the leisure and hospitality sector (+13,000).
    • Payroll jobs advanced in 13 metro areas over the month, with a median increase of 0.8 percent. The Midland MSA exhibited the largest over-the-month job gain of 1.2 percent. Muskegon was the only region to record a minor job decline in March (-0.2 percent).
    • Michigan nonfarm jobs fell sharply by 284,000 over the year, or 6.5 percent, with the largest percentage job

Deschutes County rate dropped, Crook County’s rose, Jefferson County unchanged

SALEM, Ore. (KTVZ) — Oregon’s unemployment rate edged down to 6.2% in January from 6.3% (as revised) in December, as the state added 8,300 jobs, the Oregon Employment Department reported Tuesday.

The state’s unemployment rate dropped by close to four tenths of a percentage point in each of the last three months of 2020, following more rapid declines during the prior five months.

Oregon’s peak unemployment rate, as recently revised, was 13.2% in April 2020. The U.S. unemployment rate has also dropped rapidly since April, and reached 6.3% in January.

Nonfarm payroll employment rose by 8,300 jobs in January, following a loss of 27,500 in December. Three industries each added close to 2,000 jobs in January: retail trade (+2,100 jobs); leisure and hospitality (+2,100); and private educational services (+1,900). Two of the major industries cut about 1,000 jobs: transportation, warehousing, and utilities (-1,000 jobs) and construction (-800).

Despite the net job gain in January, employment still remains substantially below pre-pandemic levels. Total nonfarm payroll employment has dropped 162,800 jobs, or 8.3%, since January 2020. Nearly all industries have cut jobs during that time.

Leisure and hospitality is still down 76,800 jobs, or 35.6%, since January 2020. Private educational services experienced the second largest percentage decline in that time, as it cut 8,400 jobs, or 22.6%. The only industry to add jobs in the past 12 months was transportation, warehousing and utilities, which added 4,100 jobs, or 5.6%.

Newly revised employment numbers show job growth was stronger than initially reported in the second half of 2020. The trend in the last six months of the year was revised upward by an average of 8,700 jobs. However, the pandemic-induced drop during the spring of 2020 was 8,000 jobs larger than previously estimated.

Manufacturing was looking better than the previous estimates indicated, with upward revisions of about 2,300 jobs during the last six months of 2020. Nondurable goods manufacturing has added 3,500 jobs since April. Similarly, wholesale trade employment was revised upward; it added 1,500 jobs since its spring-2020 low point. 

Professional and technical services was also revised upward substantially. It employed 101,100 jobs in January, which was essentially equal to its high point of a year ago.

For the December data, only three major industries were revised downward substantially due to the annual revisions: retail trade (-2,200 jobs); transportation, warehousing, and utilities (-1,500); and private educational services (-1,500).

Meanwhile, the employment situation was little changed in January across Central Oregon as the region remained in the “Extreme Risk” category for COVID-19 public health protocol, Regional Economist Damon Runberg reported Tuesday.

Here is the county breakdown:

Crook County: The seasonally adjusted unemployment rate rose to 7.8% in January, up from 7.6% in December. The unemployment rate remains significantly higher than in January 2020, when it was 4.8%.

Crook County posted a gain of 40 jobs on a seasonally adjusted basis in January. These gains were enough to recover most of the jobs lost