03 October 2009

Chart of the Day

Friday, the US Labor Department reported that nonfarm payrolls decreased by 263,000 in September. Note how the number of jobs has steadily increased (top chart) over the long-term. During the last economic recovery, however, job growth was unable to get back up to trend (first time since 1960). More recently, nonfarm payrolls have pulled away from its 50-year trend by a record percentage (bottom chart). The number of US jobs is currently at level first seen in early 2000.