4th Quarter GDP: 1.9% (3nd Estimate)4th Quarter GDP: 1.9% (3nd Estimate)

Video, Job Loss/Gain & GDP

Source: CNBC, CareerBuilder, Bureau of Economic Analysis, Bureau of Labor Statistics (BLS)

Video & Economic SummaryVideo & Economic Summary

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Tracking Job Growth 2011

Jobs Preview: And Survey Says ( 6 min 31 sec)Matt Ferguson, CareerBuilder CEO & James Paulsen, Wells Capital Management (CNBC, Prior to the job numbers, July 7, 2011)

Employment Report Shocker (9 min 49 Sec)CNBC Commentators

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  2009 2010 2011

 Components of GDP 3rd 4th  1st 2nd 3rd 4th  1st

Consumers   1.41% 0.69% 1.33% 1.54% 1.67% 2.79 1.52%(Personal Consumption)

*Businesses  

1.22% 2.70% 3.04% 2.88% 1.80% -2.61 1.46%(Gross Private Domestic Investment)Net Exports                   (Exports-Imports) -1.37% 1.90% -0.31% -3.50% -1.70% 3.27 0.14%

Government  0.33% -0.28% -0.32% 0.80% 0.79% -0.34 -1.20%

Total GDP 1.60% 5.00% 3.70% 1.72% 2.56% 3.11 1.92%               

*Inventories  1.10% 2.83% 2.64% 0.82% 1.61% -3.42 1.31%component of Business

“Many Wall Street economists, and the Federal Reserve, have declared the slowdown in GDP growth in the first half of the year a transitory phenomena, and the weak jobs report now raised the question of whether that soft patch was softer than previously expected. The sluggishness has been blamed on a combination of things, including Japan's supply chain disruptions, high energy costs and a variety of weather disasters across the U.S.

The expectation for the June report was that 125,000 jobs would be added, which included the loss of some 20,000 government workers. Some economists had seen June as the turning point, from which job growth would increase on a monthly basis before returning to the 200,000 level later in the year.

But the report showed that the private sector added 57,000 workers, down from 73,000 in May. Government employment was cut by 39,000 workers, as state and local governments struggle with budget deficits. Revisions showed that only 25,000 jobs were added in May and 217,000 were created in April.” - CNBC

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CareerBuilder: Mid Year Hiring Survey Link to Full Survey Results

Number of people employed as a temporary employee divided by total non farm payroll employment

June 2009 Recession Officially EndedJuly 2009 Temp Penetration Trend Turns PositiveOct 2009 1st Job Growth >100,000 (Household Survey)Nov 2009 1st Job Growth (Payroll Survey)

Temp EmploymentTemporary help services lost 12,000 jobs.

Why is the Temp Penetration Rate Important?“Temporary Help Employment is a Leading Indicator for Nonfarm Employment—Staffing job trends lead nonfarm employment by three months when the economy is emerging from a recession and by six months during periods of normal economic growth.” American Staffing Association

US Employment Situation

Temp Penetration Rate: % -.01%

Temp Penetration Rate: % -.01%

Job Loss/Gain: + 18,000 Jobs Job Loss/Gain: + 18,000 Jobs

Unemployment Rate: 9.2% +0.1% Unemployment Rate: 9.2% +0.1%

I

Unemployment Rate: Bachelor’s Degree or higher

Feb March April May June4.3% 4.4% 4.5% 4.5% 4.4%

Source: Bureau of Labor Statistics, American Staffing Association

Nonfarm Payroll – Job Growth Details Jobs Added/LostPrivate Sector 57,000Government Sector -39,000Total 18,000

Job Loses

Change from Previous Month

Government -39,000

Financial Activities -15,000Construction -9,000

Job Gains

Change from Previous Month

Leisure & Hospitality 34,000Professional & Business Services 12,000Manufacturing 6,000Retail Trade 5,200Education & Health Services 0 - Education -17,400 - Healthcare 13,500 - Social Assistance 3,900

A Gloomy Report on Jobs(New York Times)

A Gloomy Report on Jobs(New York Times)

Unemployment Rate ProjectionsSurvey of Economists (Wall Street Journal)

Unemployment Rate ProjectionsSurvey of Economists (Wall Street Journal)

Projections & Sector Comparison

Source: Wall Street Journal, New York TimesPlease note: WSJ Projections were released prior to the BLS report

GDP Projections Survey of Economists (Wall Street Journal)

GDP Projections Survey of Economists (Wall Street Journal)

In June, the economy added only 18,000 jobs, with a majority of sectors performing worse than they did in May. Charts show monthly changes in jobs, seasonally adjusted.