Auto-Sector Jobs Account for Much of October Growth
WASHINGTON — The auto sector accounted for 12,500 new jobs in October — as it remains a bright spot in the struggling economy.
Over the last 12 months, the auto and parts industry has accounted for 75,000 new jobs, reported The Detroit News.
The Labor Department's Bureau of Labor Statistics reported Friday that the nation added 80,000 new jobs in October and the unemployment rate fell to 9 percent from 9.1 percent.
Auto dealers added 3,900 jobs to 1.049 million; auto parts dealers added 2,400 to 637,800.
Automakers and parts manufacturers added 6,200 to 710,400 jobs.
Over the past year, auto dealers have added 33,000 jobs, while auto parts dealers have added 12,000 jobs. Auto and parts manufacturers have added 30,000 new jobs.
But the growth comes after a severe decline in the sector, with hundreds of plants closed nationwide and tens of thousands of workers laid off as General Motors and Chrysler Group LLC underwent bankruptcy restructuring and many suppliers filed for bankruptcy.
The sector is down dramatically over the past four years, as automakers cut production, ended brands — such as Mercury, Hummer, Saturn and Pontiac — and closed dealers.
In October 2007, auto dealers employed 1.25 million people — or 200,000 more than today. Auto parts dealers employed 660,000 people — or 22,000 more than today.
Automakers and parts makers employed 990,000 people in October 2007 — 280,000 more than today.
More Industry

Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →
Black Book: Weekly Market Update
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
EU Auto Association Urges Action
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Driving into the Super CFC Era
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →