November 2009 Jobs Report and Wages
December 5, 2009 Leave a comment
Here are the job market and compensation numbers for November 2009 (based on the job report):
Net 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
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