August 2009 Jobs Report and Wages

Here are the job market and compensation numbers for August 2009 (based on the job report):

loss of 216,000 jobs in the month (revised twice, first to a loss of 201,000 and settled at a loss of 154,000 jobs, revised to a final loss of 211,000)

  • Analysts expected a loss of 230,000
  • Twenty straight months of job losses
  • July was revised to loss of 276,000 jobs (from a loss of 247,000, revised to a final loss of 344,000)
  • June was revised to a final loss of 504,000
  • May was revised to a loss of 303,000 jobs (from 345,000 originally to 322,000 last month, revised to a final loss of 347,000)
  • Involuntary part time workers grew to at 9.1 million. This number has leveled off over the last five months
  • The number of unemployed persons increased to a total of 14.9 million
    • Since December of 2007, when the recession began, 7.4 million people have been added to that number

  • Of those out of work, about 33% are jobless for more than 27 weeks

Unemployment rate declined to 9.7%

  • Analysts predicted a rise to 9.5%
  • 26 year high
  • This number soared from 9.4% in July
    • As I said last month though, the 9.4% number was tempered by the fact thata large number of people dropped out of the pool since they quit looking for work

  • The U-6 report, which is a broader group, reached 16.8%. Up from 16.3%
    • It has stabilized over the last 3 months

Specific Segment Job numbers:

  • Manufacturing lost 63,000 jobs
  • Construction lost 65,000 jobs
  • Retailers lost 10,000
  • Leisure and Hospitality Services lost 21,000 jobs
  • Government sector lost 18,000
  • Health care grew by 28,000 jobs


  • The average weekly paycheck (seasonally adjusted) is $617.32 – up almost $2.00
  • The average hourly earning (seasonally adjusted) is $18.61 – up 6 cents
  • The average hourly work week was even at 33.1

Bureau of Labor Statistics

Job Report Stats Summary


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