2009-02-06 USER

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Karim writes:

Job losses picking up speed and hours worked continue to plunge.

  • -598k job losses in January
  • Benchmark revision for 2008, -400k
  • Unemployment rate up from 7.2% to 7.6%
  • Hours worked down another 0.7% (biggest driver of personal income)
  • Augmented unemployment rate rises from 13.5% to 13.9% (was 8.7% in December 2007)
  • Diffusion index down to 25.3 from 25.5 (only 2 sectors to add jobs were education, 54k, and government, 6k)

Change in Nonfarm Payrolls (Jan)

Survey -540K
Actual -598K
Prior -524K
Revised -577K

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Change in Nonfarm Payrolls YoY (Jan)

Survey n/a
Actual -3500.00
Prior -2589.00
Revised n/a

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Nonfarm Payrolls ALLX (Jan)

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Unemployment Rate (Jan)

Survey 7.5%
Actual 7.6%
Prior 7.2%
Revised n/a

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Unemployment Rate ALLX 1 (Jan)

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Unemployment Rate ALLX 2 (Jan)

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Change in Manufacturing Payrolls (Jan)

Survey -145K
Actual -207K
Prior -149K
Revised -162K

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Change in Manufacturing Payrolls YoY (Jan)

Survey n/a
Actual -7.7%
Prior -5.9%
Revised n/a

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Average Hourly Earnings MoM (Jan)

Survey 0.2%
Actual 0.3%
Prior 0.3%
Revised 0.4%

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Average Hourly Earnings YoY (Jan)

Survey 3.6%
Actual 3.9%
Prior 3.7%
Revised 4.0%

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Average Hourly Earnings ALLX 1 (Jan)

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Average Hourly Earnings ALLX 2 (Jan)

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Average Hourly Earnings ALLX 3 (Jan)

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Average Weekly Hours (Jan)

Survey 33.3
Actual 33.3
Prior 33.3
Revised n/a


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