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Friday, July 8, 2011

How Many New Jobs Were Created in 2011 (June update)?


Number of Jobs Lost in 2011 

The following numbers are for June 2011.  For current numbers, please click one of the above links.  

How many jobs were created in all of 2011, from December 2010 to June 2011?  Have jobs been lost in 2011?

  • In seasonally adjusted numbers, 757,000 jobs have been created in 2011.  That's 126,200 a month.
  • In "raw" unadjusted numbers, 1,029,000 jobs have been created in 2011.  That's 171,500 a month. 
Have jobs or workers been lost in 2011?  (after the jump:)


In 2011, we have had only net gains in jobs and numbers of workers.  To repeat, no jobs or workers have been lost in net numbers in 2011.

How many jobs were created over the past three months from March 2011 to June 2011?

  • In seasonally adjusted numbers, 260,000 jobs have been created in the last three months.  That's 86,700 a month.
  • In "raw" unadjusted numbers,  2,180,000 jobs have been created in the last three months.   That's 726,700 a month.   

How many jobs were created over the past year, from June 2010 to June 2011?
  • In seasonally adjusted numbers, 1,036,000 new jobs were created over the past year.  That's 86,300 a month.
  • In "raw" unadjusted numbers,  1,171,000 jobs have been created in the past year.  That's 97,600 a month.


How many jobs have been created since the "trough" of the recession in late 2009/early 2010 to now, June 2011?


How many jobs were created in the last month?
  • In seasonally adjusted numbers, 18,000 jobs have been created in the last month.
  • In raw unadjusted numbers, 376,000 have been created in the last month.

How can these two numbers, the "seasonally adjusted" and the "non-seasonally adjusted (raw)" jobs numbers be so far apart? 

18,000 vs. 376,000?  It's more surprising if we just take the number of new private sector jobs. In June, 840,000 additional private sector jobs were reported in "raw" numbers, unadjusted for seasonal variations, whereas only 57,000 jobs were reported after the seasonal adjustments.  So how to account for such a huge difference?

June, like May and the other spring months, is historically a hiring month.   Even in the deepest part of the recession in early 2009, jobs were added in the Spring.  We would expect to see job creation of close to a million "real" private-sector jobs in June, and about 300,000 to 400,000 government job losses, mostly in education.  That would give us a seasonally-adjusted jobs number of about 150,000 to 200,000.  However, this year, we had 840,000 private sector job gains and 464,000 government job losses; therefore, we had an adjusted gain of only 18,000 jobs.    

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