- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- EXCERPTS and IMAGES: Warren Buffett & Bill Gates - Keeping America Great
- What Happened to Cypress Semi?
- Lightning Round: Raytheon, Salesforce.com, Pepsi and More
- Lightning Round OT: Apache, Brocade, Allergan and More
- Cramer Goes One-on-One With Costco CEO
- Cramer: The Real Reason Stocks Fell Thursday
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Your First Move For Friday November 13th
- Web Extra: Options Action Suggests Next Tech Takeover
MOST SHARED
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Pharma & Social Media
- Is Euphoric Market Ignoring Warning Signs?
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Disney Profit, Sales Top Street Forecasts; Shares Jump
- China Fourth Quarter Growth Could Hit 10%: Official
- Obama to Outline Strategy to Boost US Exports to Asia
- Warren Buffett and Bill Gates Share Their 'Optimism' With Eager Columbia Business Students
- Video Game Sales Plunge, but Have They Hit Bottom?
- Bain Finalizing $1.1 Billion Deal to Buy Citi's Bellsystem
RSS FEED
Text Size 
Today's report on non-farm payrolls showed a loss of 51,000 jobs and a rise in the unemployment rate, now up to 5.7%. While an increase, the overall job loss numbers are 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 were manufacturing, professional services, and construction. Government added the most jobs, primarily at the state and local levels (your taxes at work).
Total change in non-farm payroll = - 51,000
- Private Sector = - 76,000
- Natural Resources & Mining = + 11,000
- Construction = - 22,000
- Manufacturing = - 35,000
- Durable goods = - 17,000
- Non-durable goods = - 18,000
- Services = - 5,000
- Wholesale Trade = - 16,900
- Retail Trade = - 16,500
- Transportation = - 5,800
- Utilities = + 200
- Information & Media = - 13,000
- Financial Svcs & Real Estate = Unch
- Professional & Business Svcs = -24,000
- Education = + 5,300
- Health Svcs = + 34,300
- Leisure = + 1,000
- Government = +25,000
The futures were up on the news, with lower than expected losses. Leading the S&P on the open are MBIA [MBI
Loading...
()
], Apartment Investment & Mgmt[AIV
Loading...
()
], Massey Energy [MEE
Loading...
()
], Ingersoll-Rand [IR
Loading...
()
], and Apache [APA
Loading...
()
].
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- They may have wrecked their companies or saved our economy. Tell us what you think.
- Big pharma embraces social media, but how much should a tightly regulated sector say on Facebook or Twitter?
- A European dating site finds lovelorn singles from one country to be consistently uglier. Which is it?
- Contributor David Pogue looks at two of the latest efforts to perfect the digital pocket camera.
- PepsiCo is ramping up its onsite health facilities for workers.
Data is a real-time snapshot *Data is delayed at least 15 minutes