Reflective of the January 2011 National Jobs Report from the Bureau of Labor Statistics

Economic dataAs of February 2011

JOBS GAINED IN JANUARY

UNEMPLOYMENT RATE

WORST UNEMPLOYMENT RATE SINCE

36,000

9.0%

1983*Current recession excluded

Private and temporary sector growth continues

Source: Labor Department

0.0

2.0

4.0

6.0

8.0

10.0

12.0A

ug-0

8S

ep-0

8O

ct-0

8N

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8D

ec-0

8Ja

n-09

Feb

-09

Mar

-09

Apr

-09

May

-09

Jun-

09Ju

l-09

Aug

-09

Sep

-09

Oct

-09

Nov

-09

Dec

-09

Jan-

10F

eb-1

0M

ar-1

0A

pr-1

0M

ay-1

0Ju

n-10

Jul-1

0A

ug-1

0S

ep-1

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ct-1

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0D

ec-1

0Ja

n-11

Un

emp

loym

ent

Rat

e %

Unemployment rate decreases to 9.0%

Source: CNNMoney.com

Change in non-farm payrolls for January 2011

Source: WallStreetJournal.com

Payroll vs. household data

Leis

ure

& H

osp

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y

Const

ruct

ion M

an

ufa

cturi

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Reta

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Legal

Acc

ou

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Arc

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/Engin

eeri

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-32 -3

+49

+27.5

+.4 -7.1 -1.6 -10

+8.6+10.6

-11.4

In thousands

Sector changes for January

8.9%

4.2%

8.0%

9.4%

14.2%

National average

College educated

Some college

High school diploma

Less than high school

Education continues to be the job search differentiator…

7.1%7.3%7.5%

7.9%8.2%8.3%8.4%8.5%8.7%8.8%

9.4%9.9%

10.2%11.1%

11.7%11.8%

14.9%

Boston

Milw aukee

Baltimore

Dallas

New York

Houston

Philadelphia

Cleveland

Chicago

Seattle

St. Louis

San Francisco

Atlanta

Detroit

Los Angeles

Miami

Las Vegas

Metropolitan unemployment snapshot…

Source: NYTimes.com

Private sector continues to grow while the public sector declines

Source: NYTimes.com

Comparing recoveries: Job changes

Source: NYTimes.com

Manufacturing indicator: Durable goods orders

ere

Source: USA Today

Analyst prediction: Jobs to pick up in 2011

The January jobs report showed fewer job gains but a significantly lower unemployment rate…

Opportunities•Analysts attribute the small number of job gains to the winter weather•The loss of temporary jobs is also considered by many to be

attributable to the weather’s impact on productivity •The upcoming months will indicate if the drop in the unemployment

rate is accurate or an anomaly•Average weekly earnings increased by $.08

Weaknesses•The slow but positive progress of job gains indicates the economy is

growing, but at a slower than ideal pace•The average workweek fell to 34.2 hours, increasing workweek

lengths are often a sign of hiring to come•2011 will need to add 200,000-300,000 jobs a month in order to

sufficiently reduce the unemployment rate

In summary