September 2010 Jobs Report and Wages

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

Net loss
of 95,000 jobs in the month

  • Census workers accounted for a loss of 73,500 workers and government hiring as a whole lost 159,000
  • Private sector payrolls increased by 64,000 (July revised to a gain of 117,000 and 93,000 last month)
  • Analysts expected an overall gain of 18,000
  • One year ago the US lost 225,000 jobs
  • August was revised to a loss of 57,000 from an original reading of a loss of 54,000
  • July was revised to a loss of 66,000 jobs from a revision of 54,000 jobs and an original reading of 131,000 lost jobs
  • 6.1 million people have been jobless for more than 6 months (long term unemployed) – virtually unchanged from August

    • 41.7% of the unemployed are long term unemployed
  • Businesses
    (private sector) have now added 863,000 jobs since the start of
    2010, after cutting 8.5 million in 2008 and 2009 combined

Unemployment rate stayed at 9.6%

  • Analysts predicted it would be 9.7%
  • The employment to population ratio is 58.5% – unchanged
  • The U-6 report, which is a broader group to count (workers who are part time but want to be full time and discouraged worker), rose to 17.1% from 16.5% two months ago (it had held steady for a few months)
  • PMI,
    a measure of manufacturing pace, is 54.4% and the 17th consecutive month of readings over 50 percent.
    Anything above 50% means the machines are running, but the rate has been declining

Specific Segment Job numbers:

  • Manufacturing lost 6,000 jobs
  • Construction lost 21,000 jobs
  • Retailers added 5,700 jobs
  • Leisure and Hospitality Services grew by 38,000 jobs
  • Government sector lost 159,000, Federal losses were 76,000
  • Education and Health Services grew by 17,000 jobs
    • Health Care and Social Assistance grew by 32,000

  • Professional and Business Services grew by 14,000
  • Mostly added by the 16.900 jobs added in Temporary Help

Wage (can be revised):

  • The average weekly paycheck (seasonally adjusted) is $639.85 – an increase of 32 cents
  • The average hourly earning (seasonally adjusted) is $19.10 – an increase of a penny
  • Average
    weekly hours and overtime of production and nonsupervisory employees on
    private nonfarm payrolls by industry sector, seasonally adjusted is
    33.5 hours

Bureau of Labor Statistics

Job Report Stats Summary


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