Nonfarm Payroll declines 247K in July


Nonfarm payroll employment continued to decline in July (-247,000), and the unemployment rate was little changed at 9.4 percent, the U.S. Bureau of Labor Statistics reported today.

In July, the number of unemployed persons was 14.5 million. The unemployment rate was 9.4 percent, little changed for the second consecutive month.

The number of long-term unemployed (those jobless for 27 weeks or more rose by 584,000 over the month to 5.0 million. In July, 1 in 3 unemployed persons were jobless for 27 weeks or more.

Employment in construction declined by 76,000, about in line with the average for the past 3 months (-73,000).

Manufacturing employment fell by 52,000 in July and has declined by 2.0 million since the recession began.

In July, retail trade employment declined by 44,000. Job losses in the industry had averaged 27,000 per month over the prior 3 months.

Financial activities employment continued to trend down in July  (-13,000).

Health care employment increased by 20,000 in July, about in line with the average monthly gain for the first half of this year but down from an average monthly increase of 30,000 during 2008.

The average workweek of production and nonsupervisory workers on private nonfarm payrolls edged up by 0.1 hour to 33.1 hours. The manufacturing workweek increased by 0.3 hour to 39.8 hours. Factory overtime was unchanged at 2.9 hours.

Average hourly earnings of production and nonsupervisory workers on private nonfarm payrolls rose by 3 cents, or 0.2 percent, to $18.56. Over the past 12 months, average hourly earnings have increased by 2.5 percent, while average weekly earnings have risen by only 1.0 percent due to declines in the average workweek.

The change in total nonfarm payroll employment for May was revised from -322,000 to -303,000, and the change for June was revised from -467,000 to -443,000.

 

TradingEconomics.com, Bureau of Labor Statistics
8/7/2009 9:18:15 AM