Payroll employment in October 2008
November 12, 2008
Nonfarm payroll employment fell by 240,000 in October, following declines of 127,000 in August and 284,000 in September, as revised.
Employment has fallen by 1.2 million in the first 10 months of 2008; over half of the decrease has occurred in the past 3 months.
In October, job losses continued in manufacturing, construction, and several service-providing industries. Health care and mining continued to add jobs.
Manufacturing employment declined by 90,000 over the month. Construction employment fell by 49,000. Within professional and business services, the employment services industry shed 51,000 jobs in October. Retail trade employment fell by 38,000, with the largest losses occurring among automobile dealers. Employment in financial activities declined by 24,000 in October.
Health care employment continued to expand in October, with an increase of 26,000. The mining industry added 7,000 jobs.
These data are from the BLS Current Employment Statistics program, and are seasonally adjusted. Data for the most recent two months are preliminary. To learn more, see "The Employment Situation: October 2008," (PDF) (HTML) news release USDL 08-1617.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Payroll employment in October 2008 on the Internet at http://www.bls.gov/opub/ted/2008/nov/wk2/art02.htm (visited February 07, 2016).