There was no surprise in the non-farm payroll numbers released by the Bureau of Labor Statistics (BLS) of the Commerce Department on July 2, 2009. Job losses for the month of June 2009 totaled 463,000 [originally reported as 467,000, revised Septmeber 4, 2009], and the unemployment rate rose slightly to 9.5 percent. According to the BLS report, “Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction.” The deep economic recession will like continue to take a toll on jobs through the end of the year, even though the recession is likely at a bottom now.
An important measure of economic activity, average hourly earnings, in the report showed earnings above the average for the first quarter of 2009, but unchanged from May. Average hourly earnings for June 2009 were $18.53, same as May 2009, and above the first quarter 2009 average of $18.46. Average hours worked remained about the same at 33, and overtime was flat as well.
For the full report, please see the Employment Statistics page on the menu bar at the top of the page.
Gregg D. Killoren
victoria1014
