Large drop in payroll employment in October
November 06, 2001
Nonfarm payroll employment dropped by 415,000 in October, by far the largest of three consecutive monthly declines.
The October decline in payroll employment was the biggest employment decrease since May 1980 and followed a decline of 213,000 in September. Since the recent employment peak in March, overall job losses have totaled 887,000; losses in the private sector have totaled 1.2 million. In October, employment was down in nearly every major industry.
The labor market data for the month of October are the first to reflect broadly the impact of the terrorist attacks of September 11. The labor market had been weakening before the attacks, and those events clearly exacerbated this weakness. It is not possible, however, to quantify the job-market effects of the terrorist attacks.
These data are a product of the BLS Current Employment StatisticsProgram. The above figures are seasonally adjusted. Find out more in "The Employment Situation: October 2001," news release USDL 01-397.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Large drop in payroll employment in October on the Internet at http://www.bls.gov/opub/ted/2001/nov/wk1/art02.htm (visited August 30, 2016).
Recent editions of Spotlight on Statistics
A look at healthcare spending, employment, pay, benefits, and prices
As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.