Friday, Mar 06, 2009
U.S. Non-Farm-Payroll: -651,000
U.S. Department of Labor, Bureau of Labor Statistics: THE EMPLOYMENT SITUATION: FEBRUARY 2009
Nonfarm payroll employment continued to fall sharply in February (-651,000), and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment has declined by 2.6 million in the past 4 months. In February, job losses were large and widespread across nearly all major industry sectors.
Posted by 51ck-6-51x @ 01:38 PM (407 views) Add Comment
5 Comments
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1. peter_2008 said...
BBC link http://news.bbc.co.uk/1/hi/business/7927790.stm
"December saw the most job losses, according to the revised figures, with 681,000, significantly more than the previous estimate of 524,000. The number of jobs lost in January rose to 655,000, up from a prior estimate of 598,000."
So an underestimation of 214,000... hmm close enough for me!
I remember someone said those data were "better than expected" when they were published. Ha!
2. 51ck-6-51x said...
peter_2008 -
Nah, I don't think anyone thought last month's data were better than expected: the post
From the BLS:
"The change in total nonfarm employment for December was revised from -577,000 to -681,000 and the change for January was revised from -598,000 to -655,000. Monthly revisions result from additional sample reports and the monthly recalculation of seasonal factors."
So effectively another 161K (still a large number!) - the BBC quote you referenced (no longer there on their updated article) talks of estimates (that were made by analysts).
3. 51ck-6-51x said...
ooooops thats a big link!
4. 51ck-6-51x said...
oh it's still here I guess I'd better add a closing tag! Phew, there we go.
5. Affordablehousing said...
So for the Month of February 2009, you have 651,000 job losses,
that may well end up getting revised over the next two months to 800,000.
And "The number of persons who worked part time for economic reasons rose by 787,000"
I bet most of them, were 'full timers' taking a BIG cut in their working hours, either that or no job at all..
The Americans cannot possibly survive at this rate, too much blood loss OR rate of blood loss is usually fatal!.
They are going down, and they'll take us with them, their Sub-prime 'line and hooks' are already tearing huge chunks of Flesh out of our economy.