December 2010 Jobs Report and Wages

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


Net gain
of 103,000 jobs in the month
(revised to a gain of 152,000)

  • Analysts expected an overall gain of 146,000
  • Private sector payrolls increased by 113,000
    • Private service producing industries added 115,000
    • Goods producing industries lost 2,000


  • November was revised to a gain of 92,000 a revision of 71,000 and from an original reading of 39,000 gain
  • October was revised to a gain of 171,000, from a revised reading of 172,000 and an original reading of 151,000
  • Payroll processor ADP reported an employment gain of 297,000 jobs
  • Including population growth, the job market is 11 million jobs below the point of when the recession began 3 years ago
  • The US labor force is smaller now than when the recession began, by 4 million people
  • 6.4 million people have been jobless for more than 6 months (long term
    unemployed) – up significantly from the last four months

    • 44.3% of the unemployed are long term unemployed – ratcheted up up from 41.9% last month
  • The
    main type of hire for the past few months was for Temporary Help Service (+16,000) but this month the large gains were in Leisure and Hospitality (47,000) and Health Care (37,100)

Unemployment rate dropped to 9.4%

  • Analysts predicted it would be 9.6%
  • The unemployment rate has been over 9% for 20 months
  • 260,000 people dropped out of the employment count producing a labor force participation rate of 64.3% (66.5% is average to good)
  • The employment to population ratio is 58.3% – relatively 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), dropped to 16.7%.
    This reflects the same decrease of unemployment rate to 9.4%
  • PMI,
    a measure of manufacturing pace, is 57% and the 20th consecutive
    month of readings over 50 percent. Anything above 50% means the
    machines are running

Specific Segment Job numbers:

  • Manufacturing gained 10,000 jobs
  • Construction lost 16,000 jobs
  • Retailers gained 12,000 jobs
  • Leisure and Hospitality Services gained 47,000 jobs
  • Government sector lost 10,000, Federal gained 10,000
  • Education and Health Services grew by 44,000 jobs
    • Health Care and Social Assistance grew by 37,000

  • Professional and Business Services grew by 7,000
    • 15,900 jobs added in Temporary Help

Wage (can be revised):

  • The average weekly paycheck (seasonally adjusted) is $645.46 – an increase of $2.59
  • The average hourly earning (seasonally adjusted) is $19.21
  • Average
    weekly hours and overtime of production and nonsupervisory employees on
    private nonfarm payrolls by industry sector, seasonally adjusted is
    33.6 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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