Working Thoughts

• 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
  

Unemployment rate rose to 9.4%

• 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%

Specific Segment Job numbers:

• 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

Wage:

• 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%
  

Bureau of Labor Statistics

Job Report Stats Summary