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The U.S. Employment Situation - September 2004

The U.S. Employment Situation - September 2004

From Bureau of Labor Statistics, for About.com

Industry Payroll Employment (Establishment Survey Data)

Total nonfarm payroll employment increased by 96,000 in September to 131.6 million, seasonally adjusted. Payroll employment has risen by 1.8 million since reaching a trough in August 2003, with about half of the gain (885,000) occurring in March, April, and May. Since May, payroll job gains have totalled 405,000. Employment increases in September occurred in financial activities, professional and technical services, and temporary help services.

Within the service-providing sector, employment in financial activities increased by 26,000 over the month and by 108,000 since the beginning of the year. Rental and leasing added 7,000 jobs in September, following a similar-sized increase in August. Employment in finance and insurance edged up in September, and real estate continued to add jobs.

Employment in professional and technical services grew by 24,000 in September. Since August 2003, this industry has added 205,000 jobs. Temporary help services employment was up by 33,000 in September, following 2 months of smaller increases. Employment in management of companies and enterprises fell by 11,000 over the month, following a smaller decline in August.

Employment in health care and social assistance was little changed in September. Over the prior 12 months, job gains in this industry averaged 24,000 a month. Within the industry, child day care services lost 14,000 jobs in September. Employment in doctors' offices rose by 8,000.

The information industry continued to shed jobs in September (-12,000). Most of the over-the-month job loss occurred in telecommunications (-9,000) ; employment in this industry is down by 302,000 since its most recent peak in March 2001.

Within the goods-producing sector, manufacturing employment edged down in September (-18,000), with small job losses occurring throughout the durable and nondurable goods components of the industry. Manufacturing had added 88,000 jobs in the previous 7 months, with most of the gains registered from March through May. Construction employment was about unchanged in September and has shown little growth since May.

Weekly Hours (Establishment Survey Data)

The average workweek for production or nonsupervisory workers on private nonfarm payrolls was unchanged in September at 33.8 hours, seasonally adjusted. The manufacturing workweek fell by 0.1 hour to 40.8 hours, and factory overtime was unchanged at 4.6 hours.

The index of aggregate weekly hours of production or nonsupervisory workers on private nonfarm payrolls increased by 0.1 percent in September to 100.7 (2002=100). The manufacturing index fell by 0.4 percent to 94.9.

Hourly and Weekly Earnings (Establishment Survey Data)

Average hourly earnings of production or nonsupervisory workers on private nonfarm payrolls rose by 3 cents in September to $15.78, seasonally adjusted. Average weekly earnings increased by 0.2 percent over the month to $533.36. Over the year, average hourly earnings increased by 2.4 percent, and average weekly earnings grew by 3.0 percent.

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