May 2009 Jobs Report and Wages
Here are the job market and compensation numbers for May 2009 (based on the job report):
Net loss of 345,000 jobs in the month (revised to a final loss of 347,000)
Job Report Stats Summary
Net loss of 345,000 jobs in the month (revised to a final loss of 347,000)
- Analysts expected a loss of 520,000
- Seventeen straight months of job losses
- 14.5 persons unemployed
- March was revised to loss of 652,000 jobs (revised to a final loss of 753,000)
- April was revised to a loss of 504,000 jobs (from 539,000. revised to a final loss of 582,000)
- Long term unemployed increased 3.9 million persons (people out of work longer than 27 weeks)
- This number has tripled since Dec 2007
- Smallest loss in 8 months
- Analysts predicted a rise to 9.2%
- 26 year high (and the calculation for this was changed in the early 90s)
- Since the recession began in December of 2007, the unemployment rate has risen 4.5%
- Manufacturing lost 156,000 jobs
- Construction lost 59,000 jobs
- Retailers lost 18,000
- Temporary Work lost 6,500 jobs
- Leisure and Hospitality Services gained 3,000 jobs
- Government sector lost 7,000
- This sector carried the jobs report last month, so this means the jobs picture is really getting healthier
- Health care grew by 24,000 jobs
- The average weekly paycheck (seasonally adjusted) is $613.67
- An decrease of $1.19
- The average hourly earning (seasonally adjusted) is $18.54
- The average hourly work week was down 0.1 to 33.1
- Over the last 12 months, earnings are up 3.1%
Job Report Stats Summary
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