Private-Sector Jobs Increase for the 8th Month, First Time Since 2007; +763,00 Jobs This Year -- MrSwing

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Private-Sector Jobs Increase for the 8th Month, First Time Since 2007; +763,00 Jobs This Year
Sep 03, 2010

Dr. Mark J. Perry

CARPE DIEM
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Some highlights of today's employment report for August:
1. Private-sector jobs have increased in each month this year, and by 67,000 in August, bringing the total to 763,000 private-sector jobs that have been created this year. This is the first time since December 2006 to July 2007, three years ago, of eight consecutive monthly gains in private-sector employment (see top chart above).
2. Temporary help service jobs increased in August by 16,800 to 2,116,000 jobs, the highest employment level in this sector since December 2008 (see bottom chart above). Except for a small decrease in July of 900 jobs, temporary employment has increased in each month since last October, following 23 consecutive monthly losses from November 2007 to September 2009. Since last October, temporary employment has increased by 392,200 .
3. Average overtime hours for manufacturing increased slightly in August to 3.9 hours from 3.8 hours in July, matching the 3.9 hours in May and June, which is the highest level of overtime since May 2008, more than two years ago.