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

About benleeson
My name is Ben Leeson. I currently work for a large financial company in IT. I went to school at Marist College in Poughkeepsie, NY. I graduated with a B.S. in Business Administration concentrating in HR. Professor William Brown taught me and I enjoyed his classes; even acquiring an appreciation for just about all things HR. I didn’t pursue a job in that field after college but I’ve kept up with it. This blog will further my fascination with all things HR. I hope to grow my knowledge of the area through thoughtful writings and spirited feedback. I will attempt to have a fairly routine style so anyone reading can come to expect certain segments. Please excuse my incorrect grammar and occasional misspelling.

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