By Gerardo R. Partido
Variety News Staff

THE number of jobs on island has increased, according to the December 2006 Current Employment Report released by the Guam Department of Labor yesterday.
Total employment on Guam increased by 860 jobs, or from 58,000 in December 2005 to 58,860 jobs in December 2006.
Broken down by sector, the number of jobs recorded in the private sector increased by 430, led by an increase of 290 jobs in the construction industry and 130 in hotels.
Government employment likewise increased with federal employment increasing by 230 jobs and government of Guam employment by 200 jobs.
The majority of the increase in GovGuam jobs came in the autonomous agencies.
According to the labor department, the increase in government jobs reflects the “usual” seasonal job increase in educational institutions for December.
As for earnings, the labor department said private sector average hourly earnings, average weekly hours paid, and average weekly earnings were essentially unchanged over the latest one-year period.
Reacting to the latest figures, the administration described the report as another indicator of a “strong economic momentum,” adding that the latest official job report indicates the strongest annual period of job growth Guam has seen in nearly three years.
“This economy is going strong and we’re excited that this momentum is translating into job opportunities for our people. We’re working to bring more career opportunities to our people so we can continue this trend of positive job growth,” Gov. Felix P. Camacho said in a statement.
The government’s chief economist, Gary Hiles, confirmed that the latest report shows the strongest period of job growth the island has seen in a while.
“This is the largest annual increase since March 2004. Additionally, the recent news of the $345 million in military construction projects for fiscal year 2008 is an indication that construction activity and moderate economic expansion is fairly well locked in for the next couple of years even preceding the proposed transfer of Marines,” Hiles said.
On Wednesday, the office of Congresswoman Madeleine Z. Bordallo announced that a record $345 million in military construction money may be headed Guam’s way if President Bush’s 2008 budget passes Congress.
The amount is four times the amount received by Guam for military construction in FY 2005 and represents a 56 percent increase in military construction funding over the level of funding in 2007.
Just last week, statistics released from The Captain Company showed that one of the primary indicators of economic activity—real estate—recorded the highest sales transactions since tracking started in 1999. It also showed the highest median sale price for a home ever recorded by The Captain Company.