View
557
Download
4
Category
Preview:
DESCRIPTION
Economic Outlook October 2010
Citation preview
Economic DataAs of October 2010Reflective of the September 2010 National Jobs Report from the Bureau of Labor Statistics
Public sector jobs contribute to job loss while unemployment holds steady
0
-3
-6
-9%2 4 6 8 1210 14 16 20+
Months of job losses
JOBS LOST IN SEPTEMBER
UNEMPLOYMENT RATE
WORST UNEMPLOYMENT RATE SINCE
-95,000
9.6%
1983
0
-3
-6
-9%2 4 6 8 1210
Months of job losses
1945
1948-49
1953-54
Currentrecession
1981-82
1973-752001
18
Unemployment LinesCumulative job loss in selected recessions, as a percentage of total jobs
Unemployment rate remains unchanged at 9.6%
Change in non-farm payrolls for September 2010
Temporary job sector growth becomes more permanent
Continued private sector business gains are needed for growth
Job gains/losses by industry
In thousandsCon
stru
ctio
n
Man
ufac
turin
g
Leis
ure
& H
ospi
talit
y
Ret
ail
Lega
l
Acc
ount
ing
Arc
hite
ctur
e/E
ngin
eerin
g
Fin
ance
IT/T
echn
ical
Hea
lthca
re
Tem
pora
ry
-21 -6
+38
+5.7 +2.5 -7.6 -.6 -2.9 -.9
+32
+16.9
Although July featured a slight setback, the temporary sector is performing extremely well
-100
0
100
Jan-
09
Feb-
09
Mar-
09
Apr-
09
May -
09
Jun-
09
Jul-
09
Aug-
09
Sep-
09
Oct-
09
Nov -
09
Dec-
09
Jan-
10
Feb-
10
Mar-
10
Apr-
10
May -
10
Jun-
10
Jul-
10
Aug-
10
Education continues to be the job search differentiator…
Regional unemployment snapshot…
8.2%8.4%8.7%
7.6%9.4%
8.5%9.6%
8.5%9.8%9.9%
8.2%10.4%10.6%
12.8%12.1%
14.7%14.4%
BaltimoreDallas
HoustonBoston
PhiladelphiaSeattle
ClevelandMilwaukee
ChicagoSt. Louis
New YorkAtlanta
San FranciscoMiami
Los AngelesLas Vegas
Detroit
Following jobs report, Dow hits 11,000
In summary…
The September jobs report brought job losses with unemployment remaining steady…
Opportunities• Adecco Group continues to see demand for temporary help from clients in
every industry and region of the United States.• Job growth in the temporary, health care, leisure and hospitality and
management/technical consulting sectors bring new opportunities for full time and temporary workers.
Weaknesses• Private sector job growth will need to increase speed in order for the
unemployment rate to drop in the upcoming months.• In the next few months, we could see the unemployment rate remain the
same even with job growth as more and more previously discouraged job seekers enter the market.
Recommended