- Market 360: The Week's Best & Worst
- Market Fireworks Before Independence Day?
- Jobs Numbers: Breakdown by Sector
- Global Scorecard: Emerging Markets Lead
- Historical Averages for July, Q3 and the Second Half
- Quarter End Results: Winners & Losers
- Is the NASDAQ Getting Ahead of Itself?
- Quarter End Preview: Winners & Losers
- Winners & Losers Since March 9th Low
- Market 360: The Week's Best & Worst
RSS FEED
|
CNBC'S MOST SHARED
- 'We're in the Middle of a Crash': Black Swan
- A Goldman Trading Scandal?
- The Rising Mountain of Debt May Be the Next Crisis
- Latvian Banker Taking Souls as Collateral
- SEC May Reinstate Rules for Short-Selling Stocks
- Cuddle Parties Heat Up
- Alaska Governor Sarah Palin Will Resign
- The Worst Expected 2010 State Budget Gaps
Today's report on non-farm payrolls showed a loss of 20,000 jobs and a drop in the unemployment rate, now down to 5.0% from 5.1%. The latest overall job loss numbers are much better than economists expected and still well below the six figure numbers seen in past recessions. In the 2001 recession, monthly losses hit a high of 325,000. The 1990-91 recession peaked at 306,000 losses. As you can see from the chart below, numbers peak toward the end of a recession (recessions are marked by grey bands), making employment a lagging indicator.
![]() |
Here is a breakdown of where the job losses were as well as which sectors were adding jobs. Worst hit continue to be construction and manufacturing. Education, Health Care and Professional Services added the most jobs.
Total change in non-farm payroll = - 20,000
- Private Sector = -29,000
- Natural Resources & Mining = -3,000
- Construction = -61,000
- Manufacturing = -46,000
- Services = +81,000
- Wholesale Trade = -10,600
- Retail Trade = -26,800
- Transportation = +1,200
- Utilities = Unch
- Information & Media = -2,000
- Financial Svcs & Real Estate = +3,000
- Professional & Business Svcs = +39,000
- Education & Health Svcs = +52,000
- Leisure = +18,000
- Government = +9,000
On the news, the markets are poised to continue their rally. Leading the Dow [.DJIA
Loading...
()
] in gains on the open are Citigroup [C
Loading...
()
], GM[GM
Loading...
()
], Bank of America [BAC
Loading...
()
], AIG[AIG
Loading...
()
], and American Express [AXP
Loading...
()
].







