September 2010 Jobs Report and Wages
October 14, 2010 Leave a comment
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
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
- 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
About benleeson