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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


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Friday, September 04, 2009

Employment Situation - Just the Numbers 08-09

Employment Situation August 2009 unemployment
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wall street the greek economist analyst writerToday's Employment Situation Report was released at 8:30 this morning. We will follow this "just the numbers" piece up with a more detailed analysis later. For now, we wanted you to know what is moving your market today.

Employment Situation


  • Unemployment Rate: 9.7% in August, which proved importantly higher than Bloomberg's survey of economists had noted at 9.6%. Barron's and most others had set our expectations at 9.5%, so the report is a clear disappointment. The unemployment rate stood at 9.4% in July, which marked a step lower from June.
  • Nonfarm Payrolls: At 216,000, August's payroll decline was slightly worse than the consensus expected; expectations had been set at -200K (-230K based on Barron's). Either way, this figure takes a back seat to the unemployment rate impact. July's shedding was revised to a worse number at -276K, from -247K.
  • Average Work Week: This stuck at 33.1
  • Average Hourly Earnings: Increased 0.3%, versus a 0.2% consensus and prior month rate

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posted by The Greek | 9:30 AM

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2 Comments:

Anonymous Constant Gina said...

wow...Almost 10 percent of the billions of people that live in the USA.

11:12 PM  
Anonymous Greek said...

Actually, that would be approximately 10% of the roughly 300,000,000 people who live in the US. That's 30 million people, and we are talking 17% of the population if you include the long-term unemployed and the folks working part-time who can't get full-time work. So, yeah actually, it's a big deal!

11:13 PM  

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