Jobs Report January 2010

Download Jobs Report January 2010

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  1. 1. Jobs report summary January 2010 Decembers jobs report was anticipated as aJob market way of seeing if the economy would continueMonthly job losses, in thousands to rebound, or if the path to recovery would continue to be one with ups and downs. The0K temporary sector added jobs for the fifth-100K continuous month, and saw an increase of-200K -85K 47,000 jobs.-300K -400K Decembers unemployment stayed at a rate of -500K -741K 10.0%, as did the number of hours worked by -600K employees. The average hourly earnings increased by $.03.-700KJan 09Dec 09 While these numbers were not as good as hoped for, experts still believe that job losses could hit zero, with job growth potentially Sector watch beginning in the first quarter of 2010. Holiday Net job change from November to December by sector, in thousands retail sales and manufacturing reports both contained positive news which helps build a Leisure & Hospitality positive outlook on the economy.+47 ManufacturingConstruction Based on this cautious optimism, many clients +22 Accounting are looking at flexible methods of increasingRetailLegal their workforce based on business demands+4 +4 +6.9as the recession begins to ease up. Temporary or contract based employment is an excellentArchitecture IT/Technical HealthcareTemporaryFinancial -2.6 -2.1 -10.2 way to move forward on business plans before committing to permanent hiring.-27 -25 -53Source: Labor Department
  2. 2. Jobs report summary January 2010 Regional insights The shifting job market Jobs lost and gained by sector, December 1999-December 2009 Largest monthly decrease, by stateFlorida-16,700Sectors whose share of U.S. jobs shrank:Michigan -14,000 Number of jobs in each sector California -10,200 out of every 1,000 total jobs:Dec. 1999 Pennsylvania -10,200 17.3 million Manufacturing New Jersey-9,400Dec. 2099 1999: 132 of every 1,000 11.6 million 2009: 89 of every 1,000-32.7% Lost: 43 Largest monthly increase, by stateTexas+17,300 Ohio +5,400 Construction Georgia+4,8006.7 million1999: 51 of every 1,000 5.9 million 2009: 45 of every 1,000 Arizona+4,300 -12%Lost: 6 Iowa +4,300 Sectors whose share of U.S. jobs grew:Largest monthly % decrease, by state16.8 millionbusiness servicesProfessional and Hawaii -1.0%16.4 millionNevada -0.7%1999: 125 of every 1,000 2009: 128 of every 1,000 Maine-0.6%+2.8% Added: 3Mississippi-0.6% Montana-0.6%16.4 million Largest monthly % increase, by state Health Care12.6 million 1999: 97 of every 1,000 2009: 125 of every 1,000 Alaska+0.5% Added: 3 Iowa+0.3%+29.9% For the full report, go 2009 Adecco