Here are the job market and compensation numbers for July 2010 (based on the job report):
Net loss of 131,000 jobs in the month (revised to a loss of 66,000 jobs)
- Census workers accounted for a loss of 143,000 jobs as they rolled off the federal payrolls
- Private sector payrolls increased by 71,000
- Analysts expected an overall loss of 65,000
- One year ago the US lost 346,000 jobs
- June was revised to a loss of 221,000 jobs from an original reading of a loss of 125,000
- May was revised to gain of 432,000
- 6.8 million people have been jobless for more than 6 months (long term unemployed) – unchanged from June
- 44.9% of the unemployed are long term unemployed, a drop from 44.5%
- Businesses (private sector) have now added 630,000 jobs since the start of 2010, after cutting 8.5 million in 2008 and 2009 combined (90,000 a month)
Unemployment rate held at 9.5%
- Analysts predicted it would be 9.6%
- The unemployment population is 58.4% – virtually unchanged
- The U-6 report, which is a broader group to count, stayed at 16.5%
- PMI, a measure of manufacturing pace, is 55.5 from 56.2% last month and 59.7% the month before. Anything above 50% means the machines are running
- Economic growth will be by sector. The strongest component of economic growth is business investment in office buildings, equipment and software, growing at 17% during the second quarter
- Job postings on Dice.com, a technology and engineering job Web site, are up 36 percent in the year through Aug. 1
- Postings on efinancialcareers.com, which serves as an online clearinghouse for finance positions, are up 31 percent
Specific Segment Job numbers:
- Manufacturing added 36,000 jobs
- Construction loss 11,000 jobs
- Retailers gained 6,700 jobs
- Leisure and Hospitality Services grew by 6,000 jobs
- Government sector lost 202,000, Federal losses were 154,000
- Education and Health Services grew by 30,000 jobs
- Health Care and Social Assistance grew by 27,800
- Professional and Business Services lost 13,000
Wage (can be revised):
- The average weekly paycheck (seasonally adjusted) is $637.84 – an increase
- The average hourly earning (seasonally adjusted) is $19.04 – two penny increase
- The average hourly work week is 33.5 hours – a increase of 0.1 hours
Net loss of 131,000 jobs in the month (revised to a loss of 66,000 jobs)
- Census workers accounted for a loss of 143,000 jobs as they rolled off the federal payrolls
- Private sector payrolls increased by 71,000
- Analysts expected an overall loss of 65,000
- One year ago the US lost 346,000 jobs
- June was revised to a loss of 221,000 jobs from an original reading of a loss of 125,000
- May was revised to gain of 432,000
- 6.8 million people have been jobless for more than 6 months (long term unemployed) – unchanged from June
- 44.9% of the unemployed are long term unemployed, a drop from 44.5%
- 44.9% of the unemployed are long term unemployed, a drop from 44.5%
- Businesses (private sector) have now added 630,000 jobs since the start of 2010, after cutting 8.5 million in 2008 and 2009 combined (90,000 a month)
Unemployment rate held at 9.5%
- Analysts predicted it would be 9.6%
- The unemployment population is 58.4% – virtually unchanged
- The U-6 report, which is a broader group to count, stayed at 16.5%
- PMI, a measure of manufacturing pace, is 55.5 from 56.2% last month and 59.7% the month before. Anything above 50% means the machines are running
- Economic growth will be by sector. The strongest component of economic growth is business investment in office buildings, equipment and software, growing at 17% during the second quarter
- Job postings on Dice.com, a technology and engineering job Web site, are up 36 percent in the year through Aug. 1
- Postings on efinancialcareers.com, which serves as an online clearinghouse for finance positions, are up 31 percent
Specific Segment Job numbers:
- Manufacturing added 36,000 jobs
- Construction loss 11,000 jobs
- Retailers gained 6,700 jobs
- Leisure and Hospitality Services grew by 6,000 jobs
- Government sector lost 202,000, Federal losses were 154,000
- Education and Health Services grew by 30,000 jobs
- Health Care and Social Assistance grew by 27,800
- Professional and Business Services lost 13,000
Wage (can be revised):
- The average weekly paycheck (seasonally adjusted) is $637.84 – an increase
- The average hourly earning (seasonally adjusted) is $19.04 – two penny increase
- The average hourly work week is 33.5 hours – a increase of 0.1 hours
Working Thoughts 