Services: The Only Sector Still Gaining Jobs at the End of 2025

Employment trends across the U.S. showed a clear loss of momentum in 2025, and by the end of the year, the Services sector was the only meaningful source of job additions. As of November, blue‑collar jobs slipped back into negative territory after a long period of decline, according to data from the Bureau of Labor Statistics. Blue-collar jobs include the Mining/ Logging/Construction, Manufacturing and Trade/Transportation/Utilities sectors. Government employment, including Federal, State and Local jobs, also turned negative by the end of 2025. White‑collar roles – those in the Information, Financial Activities and Professional/Business Services sectors, have been flat to slightly negative for more than a year. Services – consisting of the Education/Health Services, Leisure/Hospitality Services and Other Services sectors – remained the only sector still posting gains by the end of 2025, though growth in that industry has gradually eased throughout the year.

For more information on the state of the U.S. economy, watch the webcast Macroeconomic Forces Shaping Rental Housing.