JPMorgan Chase Economic Outlook Center • Seidman Research Institute • W. P. Carey School of Business • Arizona State University
October 2009
October 2009 Data Released November 2009
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In the U.S. economy:

  • The U.S. economy contracted by 5,452,000 nonagricultural jobs in October 2009 over October 2008, a 3.97 percent decrease.
  • The goods producing sector contracted by 2,677,000 jobs, a 12.52 percent decrease in October 2009 compared to October 2008.
  • The service providing sector contracted by 2,775,000 jobs in October 2009 over October 2008, a 2.39 percent decrease.
Among the states:
  • North Dakota had the smallest rate of total nonagricultural jobs lost in October 2009 over October 2008, with a 0.40 percent decrease representing 1,500 jobs.
  • The largest rate of total nonagricultural jobs lost for October 2009, compared to October 2008, was in Arizona, with a 6.83 percent decrease (-177,600 jobs).
  • New Mexico recorded the largest job increase (1,800 jobs) in the information sector, which equaled 2.38 percent growth in October 2009 compared to October 2008.
  • Arkansas recorded 6.10 percent job growth in the educational and health services sector in October 2009, which represents 9,800 jobs.
  • Montana recorded 4.34 percent job growth in the government sector in October 2009, which represents 3,900 jobs.
The U.S. economy in September (revised):
  • The U.S. economy contracted by 5,813,000 nonagricultural jobs in September 2009 over September 2008, a 4.24 percent decrease.
  • The goods producing sector contracted by 2,771,000 jobs, a 12.82 percent decrease in September 2009 compared to September 2008.
  • The service providing sector contracted by 3,042,000 jobs in September 2009 over September 2008, a 2.63 percent decrease.