Another key indicator within the report is manufacturing employment, which is a really good indicator of the true health of the economy. That is because factories are less likely to add workers until they have the orders in hand. This provides a better leading indicator of future economic performance than does service employment, which stays more consistent through thick and thin.
Another key indicator within the Employment Report is the unemployment rate. This is not as useful for predicting future economic trends, since it is a lagging indicator. However, it is very good for confirming trends.
2009 Employment Statistics
October: There are 5.8 million fewer jobs than last year, a tad better than September's report.
September: There are 6 million fewer jobs than last year, but this is better than last month, showing a trend improvement.
August: The job loss trend continues to worsen, as the economy lost 6.2 million jobs and unemployment rose to 9.7%.
July: Unemployment still at 9.5%. Job losses mount when compared to last year.
June: Unemployment continues to climb, affecting 14.7 million people, or 9.5% of the work force.
May: Unemployment is now at 9.4%, which means 14 million workers are without jobs.
April: The unemployment rate rose to 8.9% with 13.7 million workers now unemployed.
March: Over 694,000 workers became unemployed in March, bringing the total count to 13.1 million and the unemployment rate to 8.5%.
February: The number of unemployed workers increased by 851,000, driving the unemployment rate to 8.1%.
January: The economy lost 598,000 jobs, and unemployment rate rose to 7.6%.
2008 Employment Statistics
December: The economy lost 524,000 jobs, and unemployment rose to 7.2%. Both are increasing faster than in the 2001 recession.
November: The economy lost 533,000 jobs, and unemployment rose to 6.7%.
October: The economy lost 240,000 jobs from the prior month, and unemployment remained at 6.5%, a 14-year high.
September: The economy lost 156,000 jobs from the prior month, and unemployment remained at 6.1%.
August: The economy lost 84,000 jobs from the prior month, and unemployment increased to 6.1%.
July: The economy lost 51,000 jobs from the prior month, and 150,000 in the last year (11% decline). Unemployment increased to 5.5%.
June: The economy lost 62,000 jobs in July, a decline of .22% from the prior year.
May: The economy lost 150,000 in the last year (11% decline), the worst in five years. Unemployment increased to 5.5%.
April: The economy lost 20,000 jobs from the prior month, but only gained .18% year over year, showing a worsening trend.
March: The economy lost 80,000 jobs since last month, the worst loss since the last recession.
February: The economy lost 63,000 jobs in February when compared to January, and only gained .4% when compared year-over-year, possibly signaling recession.
January: For the first time since 2003, the economy lost jobs (16,000), and year-over-year growth was only .6%.
2007 Employment Statistics
December: Only 18,000 new jobs were added and unemployment rose to 5%. Year-over-year, jobs increased only 1%, while manufacturing jobs were down 1.5%. This was the worst performance this year.
November: Only 94,000 new jobs were added, an increase year-over-year of only 1.1%, the worst since 2004. Manufacturing jobs were down 1.3% from the prior year.
October: Although the economy added 166,000 new jobs from September to October, year-over-year was up only 1.2%, the worst since 2004. Manufacturing jobs also continued their worsening trend, down 1.6% since the prior year.
September: Jobs increased 1.2% year-over-year, the weakest job growth since 2004, and increased 110,000 from the previous month. Manufacturing jobs declined 1.6% from the year before.
August: Since the previous month, 4,000 jobs were eliminated in the overall economy, while year-over-year jobs only increased by 1.2%. Manufacturing jobs declined 1.5% from the year before.
July: Only 92,000 jobs were created in July, which resulted in a 1.4% increase from the year before. Manufacturing jobs declined 1.2% from the year before.
June: Although jobs overall increased 1.5% year-over-year, manufacturing jobs declined 1.3%.
May: There were 1.2% fewer manufacturing jobs than the year before, despite an increase of jobs overall of 1.5%.
April: Although jobs increased 1.4%, manufacturing jobs declined 1.1% year-over-year.
March: Employment increased 1.4%, dragged down by a .6% decline in manufacturing jobs.
