Latest labor estimates reflect only small changes in market

The latest national labor estimates reflect little change in the United States with payrolls down and unemployment up, but only by slight amounts.

The Labor Department estimated that nonfarm payrolls shrank 54,000 in August as temporary jobs ended for more census workers and declines in government and manufacturing employment offset gains in other industry sectors. Private-sector payroll employment continued to trend upward with a net 67,000 new jobs in August. So far this year, private-sector employment has increased 763,000.

The monthly unemployment rate edged up a tenth to 9.6 percent.

Estimated job losses for July and June were revised downward a total of 123,000.

Government employment fell 121,000 in August with the layoffs of another 114,000 temporary workers hired to conduct the census.

Manufacturing employment declined 27,000 with a loss of 22,000 jobs at motor vehicle and parts factories.

Meanwhile, payroll gains were spread out among a number of other industry sectors: health care, up a net 28,000 jobs; construction, up 19,000; temporary help services, up 17,000; and mining, up 8,000.

The average work week for employees on private nonfarm payrolls held steady in August at 34.2 hours. The average workweek for manufacturing employees edged up a tenth of an hour to 40.2 hours. Average hourly earnings for employees on private nonfarm payrolls rose 6 cents to $22.66.

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Posted by on Sep 3 2010. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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