November 2009 Jobs Report and Wages

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

loss of 11,000 jobs in the month (Revised to a gain of 4,000: the first gain in 23 months – Revised again to a gain of 64,000)

  • Analysts expected a loss of 125,000
  • Twenty-three straight months of job losses
  • October was revised to a loss of 111,000 from an original reading of 190,000 (revised to a loss of 127,000, revised again to a final loss of 224,000)
  • September was revised to a loss of 139,000 from 219,000 and from originally 263,000 (revised to a final loss of 225,000)
  • August was revised to loss of 154,000 from a revised loss of 201,000 jobs (originally reported as a loss of 216,000, revised to a final loss of 211,000)
  • 7.5 million jobs have been lost since the recession officially started in December of 2007
  • 15.4 million people are unemployed and looking for work
  • 6 millions people have stopped looking for work
  • Government added 7,000 jobs meaning the private sector lost 18,000 jobs

Unemployment rate declined to 10.0%

  • Analysts predicted it would stay at 10.2%
  • The Unemployment rate hit 10.8 in 1982
  • The U-6 report, which is a broader group, reached 17.2% – from 17.5%

Specific Segment Job numbers:

  • Manufacturing lost 41,000 jobs
  • Construction lost 27,000 jobs
  • Retailers lost 15,000
  • Leisure and Hospitality Services lost 11,000 jobs
  • Government sector added 7,000
  • Health care grew by 40,000 jobs
  • Professional and Business Services grew by 86,000

Wage (can be revised):

  • The average weekly paycheck (seasonally adjusted) is $630.14 – a whopping gain of $10.18
  • The average hourly earning (seasonally adjusted) is $18.74 – up 1 cent
  • The average hourly work week stayed at 33.2, up from 33.0

Bureau of Labor Statistics

Job Report Stats Summary

About benleeson
My name is Ben Leeson. I currently work for a large financial company in IT. I went to school at Marist College in Poughkeepsie, NY. I graduated with a B.S. in Business Administration concentrating in HR. Professor William Brown taught me and I enjoyed his classes; even acquiring an appreciation for just about all things HR. I didn’t pursue a job in that field after college but I’ve kept up with it. This blog will further my fascination with all things HR. I hope to grow my knowledge of the area through thoughtful writings and spirited feedback. I will attempt to have a fairly routine style so anyone reading can come to expect certain segments. Please excuse my incorrect grammar and occasional misspelling.

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