Here are the job market and compensation numbers for April 2009 (based on the job report):
Net loss of 539,000 jobs in the month (revised to a final loss of 582,000)
Net loss of 539,000 jobs in the month (revised to a final loss of 582,000)
- Analysts expected a loss of 600,000
- Sixteen straight months of job losses
- 5.7 million jobs lost since December, 2007
- 13.7 persons unemployed
- February was revised to loss of 681,000 jobs (revised to a final loss of 726,000)
- March was revised to a loss of 699,000 jobs (revised to a final loss of 753,000)
- Long term unemployed increased 3.7 million persons (people out of work longer than 27 weeks)
Unemployment rate rose to 8.9%
- Analysts predicted a rise to 8.9%
- Over the last 12 months the rate has risen 3.9%
Specific Segment Job numbers:
- Manufacturing lost 149,000 jobs
- Construction lost 110,000 jobs
- Retailers lost 47,000
- Temporary Work lost 62,500 jobs
- Leisure and Hospitality Services lost 44,000 jobs
- Government sector gained 72,000
- Health care grew by 17,000 jobs
- Averaged 17,000 jobs through 2009
Wage:
- The average weekly paycheck is $614.53
- An increase of $0.33
- The average hourly work week was unchanged at 33.2
Working Thoughts 