April 2010 Jobs Report and Wages

Here are the job market and compensation numbers for April 2010 (based on the job report):

Net gain
of 290,000 jobs in the month
(revised in June to a gain of 313,000 in June)

  • The largest one month gain in four years (March 2006)
  • Analysts expected a gain of 187,000
  • One year ago the US lost 582,000 jobs
  • March was revised to a gain of 230,000 jobs from an original reading of a gain of 190,000
  • February was revised to a gain of 39,000 jobs from an original reading of 36,000 lost jobs and a revised reading of a loss of 14,000 jobs
  • The first four months of 2010 have seen 573,000 jobs gained
  • 6.7 million people have been jobless for more than 6 months (long term unemployed)
    • 45.9% of the unemployed are long term unemployed

  • Temporary work, which usually precedes full time employment gains, has added 330,000 jobs since September of 2009
  • 66,000 jobs were part of the Census work conducted by the Federal government and are temporary hires

Unemployment rate rose to 9.9%

  • Analysts predicted it would be 9.7%
    • As employment picks up, the labor pool grows and the unemployment rate goes up or holds steady while this period balances out

  • The unemployment population edged up to 58.8% – meaning people are getting themselves back into the overall count for the unemployment rate
  • The U-6 report, which is a broader group, increased to 17.1%, which is in line with the overall increase
  • PMI, a measure of manufacturing pace, rose to 60.4. Anything above 50% means the machines are running. This is the highest it’s been since June 2004

Specific Segment Job numbers:

  • Manufacturing added 44,000 jobs
  • Construction added 14,000 jobs
  • Retailers gained 12,900 jobs
  • Leisure and Hospitality Services grew by 45,000 jobs
  • Government sector gained 59,000, Federal gains were 65,000
  • Education and Health Services grew by 35,000 jobs
    • Health Care and Social Assistance grew by 26,400

  • Professional and Business Services grew by 80,000

Wage (can be revised):

  • The average weekly paycheck (seasonally adjusted) is $633.26, from $629.70
  • Productivity rose by 3.6% beating expectations (2.5%)
  • The average hourly earning (seasonally adjusted) is $18.96
  • The average hourly work week rose to 33.4

Bureau of Labor Statistics

Job Report Stats Summary


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