Bureau of Labor Statistics Current Employment Statistics Highlights July 2009 Bureau of Labor Statistics August 7, 2009 Employment in total nonfarm 1999-2009 Seasonally adjusted in thousands 140,000 140,000 137,500 137,500 135,000 135,000 132,500 132,500 130,000 130,000 127,500 127,500 July 2009 125,000 125,000 Level: 131,488 Change: -247 122,500 122,500 120,000 120,000 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Notes: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). NBER has not yet determined an endpoint for the recession that began in Dec. 2007. Most recent 2 months of data are preliminary. Employment in total nonfarm Over-the-month change, 2008-09 Seasonally adjusted in thousands 0 -150 -72 -144 -122 -160 -137 -161 -128 -175 -247 -300 -303 -321 -380 -450 -443 -519 -600 -597 -681 -750 -681 -652 -741 -900 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Nonfarm payroll employment declined by 247,000 in July, bringing total employment losses to nearly 6.7 million since the start of the recession in December 2007. • Although employment continues to fall, the pace of job loss has eased over the 3 most recent months. During that period, employment contracted by an average of 331,000 per month. This is down from the average 645,000 jobs lost per month in the 6-month period from November 2008 to April 2009. 2 Employment in total nonfarm Over-the-year percent changes, 2006-09 3.0 Seasonally adjusted, percent 3.0 Mar-06, 2.2 1.5 1.5 0.0 0.0 -1.5 -1.5 -3.0 -3.0 Jul-09, -4.2 -4.5 -4.5 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Total nonfarm employment in July 2009 is 4.2 percent lower then a year earlier. In March 2006, there was an over-the-year gain of 2.2 percent. 3 Average weekly hours, total private 1999-2009 35.0 Seasonally adjusted 35.0 July 2009 Level: 33.1 34.5 34.5 Change: +0.1 34.0 34.0 33.5 33.5 33.0 33.0 32.5 32.5 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Notes: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). NBER has not yet determined an endpoint for the recession that began in Dec. 2007. Most recent 2 months of data are preliminary. Over-the-year percent changes in average hourly earnings and CPI-W (1982-84=100) 1999-2009 8.0 Seasonally adjusted, percent AHE 8.0 Over-the-year percent changes July 2009 AHE: 2.5 6.0 June 2009 CPI-W: -1.7 6.0 4.0 4.0 2.0 2.0 0.0 CPI-W 0.0 -2.0 -2.0 Sources: BLS, Consumer Price Indexes program and Current Employment Statistics survey, August 7, 2009. Notes: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). NBER has not yet determined an endpoint for the recession that began in Dec. 2007. Most recent 2 months of CES data are preliminary. • In July, the average workweek for production and nonsupervisory workers on private nonfarm payrolls edged up 0.1 hour to 33.1 hours. Recent low levels of the average workweek have not been seen since the series began in 1964. • In July, average hourly earnings of production and nonsupervisory workers on private nonfarm payrolls rose by 3 cents to $18.56. Over the past 12 months, average hourly earnings have increased by 2.5 percent. 4 Index of total private aggregate weekly hours 1999-2009 115 Seasonally adjusted, 2002=100 115 July 2009 Level: 99.1 110 Percent change: 0.0 110 105 105 100 100 95 95 90 90 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Notes: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). NBER has not yet determined an endpoint for the recession that began in Dec. 2007. Most recent 2 months of data are preliminary. Aggregate weekly hours are the product of average weekly hours and production and nonsupervisory workers. Index of total private aggregate weekly payrolls 1999-2009 140 Seasonally adjusted, 2002=100 140 130 July 2009 120 Percent change: +0.2 130 Level: 122.9 120 110 110 100 100 90 90 80 80 70 70 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Notes: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). NBER has not yet determined an endpoint for the recession that began in Dec. 2007. Most recent 2 months of data are preliminary. Aggregate weekly payrolls are the product of average hourly earnings, average weekly hours, and production and nonsupervisory workers. • The index of aggregate weekly hours of production and nonsupervisory workers on private nonfarm payrolls remained unchanged in July. Since peaking in December 2007, the index has decreased by 8.1 percent. • The index of aggregate weekly payrolls of production and nonsupervisory workers on private nonfarm payrolls rose by 0.2 percent in July. This increase is the first since August 2008. 5 Employment in total nonfarm Over-the-month change, July 2009 Seasonally adjusted in thousands Mining and logging Construction 0 -76 Manufacturing -52 Wholesale trade -19 Retail trade -44 Transportation and warehousing -22 Utilities -2 Information -16 Financial activities -13 Professional and business services -38 Education and health services Leisure and hospitality Other services Government -100 17 9 Total nonfarm: -247 -80 -60 2 7 -40 -20 0 20 40 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Data are preliminary. • A majority of major industry sectors experienced job losses in July, with losses concentrated in construction, manufacturing, retail trade, and professional and business services. Education and health services continued to add jobs. • The rate of job loss has slowed in several industries during recent months, including construction and several service-providing industries. 6 Employment in construction Over-the-month change, 2008-09 0 Seasonally adjusted in thousands -30 -31 -34 -44 -44 -44 -60 -64 -24 -46 -57 -61 -65 -76 -90 -86 -98 -103 -113 -120 -123 -127 -135 -150 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Construction employment fell by 76,000 in July. Employment losses were widespread across the industry, as both the residential and nonresidential components shed jobs. • Although the loss is large by historical standards, it represents an improvement over the industry’s performance from November 2008 to April 2009. During that time, the industry employment declines averaged 117,000 per month. In the 3 most recent months, construction employment losses have slowed to an average of 73,000 per month. 7 Employment in manufacturing Over-the-month change, 2008-09 0 -50 Seasonally adjusted in thousands -30 -33 -52 -49 -57 -51 -51 -67 -52 -65 -100 -119 -121 -150 -150 -146 -172 -172 -180 -200 -131 -250 -262 -300 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Manufacturers reduced payrolls by 52,000 jobs in July. • In the past 3 months, job losses in manufacturing have moderated. From May to July, the industry shed an average of 110,000 jobs per month compared to an average loss of 176,000 jobs per month from November 2008 to April 2009. • Manufacturing has lost 2.0 million jobs since the start of the current recession in December 2007, accounting for about 30 percent of total nonfarm payroll jobs lost--the largest share of any industry. 8 Employment in durable goods manufacturing Over-the-month change, July 2009 Seasonally adjusted in thousands Wood products -5 Nonmetallic mineral products Durable goods: -32 -2 Primary metals -2 Fabricated metal products -14 Machinery -15 Computer and electronic products -7 Electrical equipment and appliances -5 Transportation equipment 28 Furniture and related products -5 Miscellaneous manufacturing -4 -20 -10 0 10 20 30 40 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Data are preliminary. Employment in nondurable goods manufacturing Over-the-month change, July 2009 Seasonally adjusted in thousands Food manufacturing -1 Nondurable goods: -20 Beverage and tobacco -1 Textile mills -2 Textile product mills -1 Apparel 1 Leather products 1 Paper products -3 Printing -5 Petroleum and coal products -1 Chemicals -3 Plastics and rubber -7 -8 -6 -4 -2 0 2 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Data are preliminary. • The majority of manufacturing employment losses occurred in durable goods manufacturing, with 32,000 jobs cut from payrolls. Within durable goods, machinery (-15,000) and fabricated metal products (-14,000) had the largest losses. • The seasonally-adjusted estimate for motor vehicle and parts (an industry within transportation equipment) employment rose over the month (28,000). Shutdowns in May and June resulted in fewer seasonal layoffs for retooling in July. Thus, the seasonally-adjusted gain likely does not indicate improvement in the industry. Employment in motor vehicle and parts has been on a long-term decline. 9 Employment in wholesale trade Over-the-month change, 2008-09 0 Seasonally adjusted in thousands -10 -11.0 -20 -6.6 -6.2 -8.7 -7.1 -12.6 -12.7 -16.6 -15.1 -16.2 -14.0 -18.6 -27.1 -30 -29.8 -40 -31.4 -32.4 -30.5 -39.6 -45.6 -50 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • In July, wholesale trade employment fell by 19,000. Over the past 3 months, the industry employment losses averaged 16,000 per month, or roughly half the average monthly decline experienced in the prior 6-month period (-35,000). 10 Employment in retail trade Over-the-month change, 2008-09 Seasonally adjusted in thousands 10 3.8 -10 -50 -15.5 -20.1 -30 -20.6 -24.2 -32.7 -37.7 -45.6 -48.4 -45.7 -28.1 -44.1 -46.4 -56.3 -70 -90 -57.2 -61.4 -61.9 -90.8 -88.1 -110 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Employment in retail trade continued to fall in July, declining by 44,000. Although, the loss in July was steeper than in the prior 2 months, the pace of job loss in recent months has moderated from the pace set during the November 2008 to April 2009 period (-63,000). 11 Employment in transportation and warehousing Over-the-month change, 2008-09 10 Seasonally adjusted in thousands 2 0 -1 -3 -2 -3 -10 -12 -20 -15 -12 -14 -15 -18 -22 -30 -40 -27 -35 -33 -34 -32 -36 -44 -50 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Employment in transportation and warehousing declined by 22,000 jobs in July. The loss is roughly in line with its average monthly decline over the prior 12 months (-25,000). The loss in July was spread throughout the component industries. 12 Employment in information Over-the-month change, 2008-09 10 Seasonally adjusted in thousands 3 0 -3 -2 -6 -10 -4 -5 -7 -4 -4 -6 -11 -13 -16 -17 -20 -18 -16 -21 -25 -26 -30 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Information employment fell by 16,000 in July; this is in line with its prior 6month average decline of 17,000. Since peaking in May 2007, the industry has shed 215,000 jobs. • Among information’s component industries, employment losses were concentrated in publishing (-8,000) and telecommunications (-5,000 jobs) in July. 13 Employment in financial activities Over-the-month change, 2008-09 0 Seasonally adjusted in thousands -10 -20 -7 -14 -14 -8 -11 -13 -13 -17 -18 -26 -30 -27 -27 -29 -33 -40 -41 -45 -50 -46 -56 -60 -56 -70 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. Employment in selected financial activities Over-the-year change, July 2009 Seasonally adjusted in thousands Credit intermediation* -130.3 Commercial Commercialbanking banking -38.0 Health care: +19.6 Securities and commodity -80.2 Insurance and related activities -55.7 Real estate -84.3 -160 -140 -120 -100 -80 -60 -40 -20 0 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Data are preliminary. * Includes additional component industries not shown separately. • Employment in financial activities continued to fall in July, declining by 13,000. Job losses have averaged 23,000 over the past 3 months, reflecting a slower rate of decline compared to average declines of 46,000 during the prior 6 months. Since the start of the current recession in December 2007, financial activities have shed 501,000 jobs. 14 Employment in professional and business services Over-the-month change, 2008-09 Seasonally adjusted in thousands -4 -20 -60 -40 -27 -36 -51 -63 -64 -61 -63 -52 -38 -63 -100 -106 -124 -140 -119 -132 -127 -151 -180 -176 -220 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. Employment in temporary help services Over-the-month change, 2008-09 0 Seasonally adjusted in thousands -1 -10 -20 -23 -25 -40 -38 -34 -31 -34 -37 -43 -37 -48 -45 -60 -57 -73 -80 -90 -100 -54 -73 -90 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Professional and business services employment edged down by 38,000 in July. The pace of job loss has slowed over the past 3 months (-57,000) compared with November 2008 to April 2009 (-138,000). Since reaching an employment peak in December 2007, the industry has shed 1.5 million jobs. • Within professional and business services, temporary help services employment was little change in July. This industry has lost 844,000 jobs, or nearly a third of its employment, since the start of the recession (December 2007). 15 Employment in health care Over-the-month change, 2008-09 50 Seasonally adjusted in thousands 41 39 40 38 34 32 30 28 28 29 23 28 25 25 25 22 21 20 18 25 20 14 10 0 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Health care added 20,000 jobs in July. Health care has continued to grow despite the recession, adding 513,000 positions since the recession started in December 2007. • Although the industry has continued to add jobs through the recession, the pace of expansion has slowed. Employment growth in the industry has averaged 21,000 per month since the beginning of 2009, down from an average of 30,000 per month in 2008. • Hospitals have accounted for most of the slowdown in employment growth. In 2009, hospital employment growth has averaged 3,000 per month, down from an average of 11,000 per month in 2008. 16 Employment in leisure and hospitality Over-the-month change, 2008-09 40 Seasonally adjusted in thousands 27 30 20 9 10 0 -5 -10 -20 -30 -17 -1 -5 -16 -17 -17 -18 -19 -26 -33 -40 -40 -36 -32 -34 -34 -50 -51 -60 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Leisure and hospitality employment was little changed in July and over the past 3 months. Employment declines in the industry have subsided after losses of more than 200,000 jobs between November 2008 and April 2009. 17 Employment in State government, excluding education Over-the-month change, 2008-09 10 Seasonally adjusted in thousands 6 5 3 2 2 1 1 0 0 -1 -1 -2 -5 -3 -4 -2 -1 -4 -2 -6 -7 -10 -11 -15 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. Employment in local government, excluding education Over-the-month change, 2008-09 20 15 Seasonally adjusted in thousands 17 13 5 11 10 10 5 6 8 5 9 7 2 2 0 -5 -3 -1 -2 -3 -2 -10 -13 -15 -13 -20 Source: Bureau of Labor Statistics, Current Employment Statistics survey, August 7, 2009. Note: Most recent 2 months of data are preliminary. • Employment in State government, excluding education, declined by 11,000 in July. • Employment in local government, excluding education, increased by 17,000 in July. 18
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