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Jobs Report January 2010
1. Jobs report summary
January 2010
December’s jobs report was anticipated as a Job market
way of seeing if the economy would continue Monthly job losses, in thousands
to rebound, or if the path to recovery would
continue to be one with ups and downs. The 0K
temporary sector added jobs for the fifth -100K
continuous month, and saw an increase of -200K
-85K
47,000 jobs. -300K
-400K
December’s unemployment stayed at a rate of
-500K -741K
10.0%, as did the number of hours worked by
-600K
employees. The average hourly earnings
increased by $.03. -700K
Jan ‘09 Dec ‘09
While these numbers were not as good as
hoped for, experts still believe that job losses
could hit zero, with job growth potentially Sector watch
beginning in the first quarter of 2010. Holiday Net job change from November to December by sector, in thousands
retail sales and manufacturing reports both
contained positive news which helps build a
Leisure & Hospitality
positive outlook on the economy. +47
Manufacturing
Construction
Based on this cautious optimism, many clients +22
Accounting
are looking at flexible methods of increasing
Retail
Legal
their workforce based on business demands +4 +4
+6.9
as the recession begins to ease up. Temporary
or contract based employment is an excellent
Architecture
IT/Technical
Healthcare
Temporary
Financial
-2.6 -2.1
-10.2
way to move forward on business plans
before committing to permanent hiring. -27 -25
-53
Source: Labor Department