Employment Situation Aug 2009

9 09 2009

This is a new series of blogs in which I will call out and blog on a number of economic indicators based upon the musings of Bernard Baumohl in The Secrets of Economic Indicators.  In this series, I will work to provide a visual or two to explain the situation as well as a link to the press release.  The goal will be to post a blog covering the reported data and to build out a series of informational charts based upon the data.

Employment Situation is one of the more important indicators of US Economic health, and perhaps even more so in this economic climate.  It provides us an indication if the economy is expanding, or contracting in terms of jobs and therefor money to be spent.  Here is the press release from 9/4/09 which is August 2009 data.

Key points (from press release):

  • Non-Farm payroll employment declined by 219,000
  • Unemployment increased by 466,000 to 14.9 million
  • Unemployment increased to 9.7% (up .3%)
  • While job losses continued, the losses are not as bad as the months before
Aug 2009 Unemployment Data by gender and race

Aug 2009 Unemployment Data by gender and race

Analysis:  We are still losing jobs in the economy.  Teenagers are at almost 2.5x the national average, and minorites having 2x the increase as the average.

Risk:  While we have some indications that the recession is getting better, it is clear we have some elements that still have some ways to go.  If your business is targeted at teenagers and/or minorities you may want to plan for sales to remain weak until the trend at least turns back to positive growth.

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