November 2009 Jobs Report and Wages

• 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