Here are the job market and compensation numbers for November 2011 (based on the job report):
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Net gain of 120,000 jobs in the month
- Analysts expected an overall gain of 110,000
- Private sector payrolls increased by 140,000
– Private sector service providing industries added 146,000 jobs
– Private sector goods producing industries lost 6,000 jobs
- September was revised from a gain of 158,000 to to a gain of 210,000
- October was revised from a gain of 80,000 to a gain of 100,000
- Revisions added 72,000 jobs from the prior 2 month readings and the revisions have consistently been higher than original readings
- The labor force in the US is currently 153,883 million, down from 154,198 in October 2011
- The unemployed totaled 13.3 million, down from 14 million which was the number for most of year
- 5.7 million had have been jobless for six months or longer – relatively unchanged from October (since the recession began 8.8 million jobs were lost and less than a third have been recovered)
- 43.0% of the unemployed are long term unemployed
- Payroll processing company ADP said private-sector payrolls grew by 206,000
– According to ADP, small firms, with payrolls ranging from one to 49 employees and thought by many to be the engine of job growth, led the charge, adding 110,000 jobs (added 60,000 two months ago)
– Again, according to ADP, medium-sized businesses, with payrolls between 50 and 499 employees, added 84,000 jobs in the month (added 36,000 two months ago), while the nation’s largest businesses added 12,000 jobs.
– Of the 206,000 private sector-jobs added in the month, 28,000 of them came from the goods-producing sector and 178,000 jobs were added in the service providing industries
– The announced jobs cuts for November were 42,474
– The number of announced cuts for the 11 months of the year is 564,297 , surpassing 2010 year end total and 13% higher overall
- In the first nine months of the year, about 17.3 million people left their jobs by choice
– Up 9% from last year, when just under 16 million people called it quits through September
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Unemployment rate dropped to 8.6%
- Analysts predicted it would remain at 9.1%
- Lowest rate recorded since March 2009
- Its a combination of more workers getting jobs and about 315,000 workers dropped out of the labor force
- the civilian labor force participation rate was 64.0 percent
- The employment-population ratio was 58.5 percent, up slightly from 58.3 percent in September
- The U-6 report, which is a broader group to count (workers who are part time but want to be full time and discouraged worker), dropped in line with the Unemployment rate to 15.6%
- PMI, a measure of manufacturing pace, is 52.7% an increase from 50.8% and the 28th consecutive month of readings over 50 percent. Anything above 50% means the machines are running
- Service sector activity fell to 52.0%. It was the 24th straight month of growth and anything over 50% signifies growth
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Specific Segment Job numbers:
- Manufacturing gained 2,000 jobs
- Construction lost 12,000 jobs
- Retailers gained 49,800 jobs
- Leisure and Hospitality Services gained 22,000 jobs
- Government sector lost 20,000: 11,000 loss in local government
- Education and Health Services gained 45,000
- Health Care and Social Assistance grew by 27,000
- Professional and Business Services grew by 33,000
- Temporary help gained 22,300
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Wage (can be revised):
- The average weekly paycheck (seasonally adjusted) is $656.54
- The average hourly earning (seasonally adjusted) is $19.54
- Average weekly hours and overtime of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted is 33.6
Bureau of Labor Statistics