Job losses getting severe
Today’s Wall Street Journal reports on the bad job data released by Bureau of Labor Statistics today. ![]()
Executive Summary
The economy has shed 4.4 million jobs since the recession began in December 2007
Nonfarm payrolls, which are calculated by a survey of companies, fell 651,000
Unemployment rate rose from 7.6 to 8.1 percent
2.9 million people were unemployed more than six months
Average hourly earnings increased a modest $0.03, or 0.2%, to $18.47
Service-sector employment tumbled 375,000
Health care payrolls rose 26,900.
The government added 9,000 jobs.
The average workweek was unchanged at 33.3 hours
Hiring last month in goods-producing industries fell by 276,000
Construction employment was down 104,000
Here is the detailed original report from Bureau of Labor Statistics.