GO
Loading...

Jobs Numbers:  Breakdown by Sector

The latest overall job loss numbers showed a loss of 125,000 jobs in June and an unemployment rate falling to 9.5% from 9.7% in May. This was the first month of losses in 6 months.

So far for this recession, the peak of losses was 779,000 lost jobs in January 2009. 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, making employment a lagging indicator. The unemployment rate peaked at 10.8% at the end of the 1981-82 recession.

Here is a breakdown of the jobs report by sector. The drop was driven primarily by the 208,000 losses in the government jobs, mostly census workers.

Total change in non-farm payroll = - 125,000

  • Private Sector = + 83,000
    • Logging & Mining = + 5,000
    • Construction = - 22,000
    • Manufacturing = + 9,000
      • Durable goods = + 13,000
      • Non-durable goods = - 4,000
    • Services = + 91,000
      • Wholesale Trade = + 1,000
      • Retail Trade = - 6,600
      • Transportation & Warehousing = + 14,600
      • Information Technology = - 8,000
      • Financial Svcs = - 15,000
      • Professional & Business Svcs = + 46,000
      • Education & Health Svcs = + 22,000
      • Leisure = + 37,000
  • Government = - 208,000

The futures are trading down on the news.

Comments? Send them to bythenumbers@cnbc.com