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Chart of The Day: Total Jobs Still Below Level Reached in 2000...

On Friday May 6, the Labor Department reported that nonfarm payrolls (jobs) increased in April for an 8th consecutive monthly gain.

Today's chart provides some perspective on the U.S. job market. Note how the number of jobs steadily increased from 1961 to 2001 (top chart).

During the last economic recovery (i.e. the end of 2001 to the end of 2007), job growth was unable to get back up to its long-term trend (first time since 1961).

More recently, nonfarm payrolls have pulled away from its 40-year trend (1961-2001) by a record percentage (bottom chart).

In fact, the current number of U.S. jobs was first reached in early 2000, more than 10 years ago!

Chart & Commentary Courtesy of Chart of The Day

Chart Of The Day: Employment Remains Below Long-Term Trend

Chart & Analysis Courtesy of ChartOfTheDay.com

On Friday, June 4, the Labor Department reported that nonfarm payrolls increased by 431,000 in May.

It is worth noting that a large majority of last month's gain in payrolls was due to the hiring of temporary workers for the 2010 census.

Today's chart provides some perspective on the U.S. job market. Note how the number of jobs steadily increased from 1961 to 2001 (top chart).

During the last economic recovery, however, job growth was unable to get back up to its long-term trend (first time since 1961).

More recently, nonfarm payrolls have pulled away from its 40-year trend (1961-2001) by a record percentage (bottom chart).

In fact, the number of U.S. jobs is currently at level first reached in early 2000.

Chart Of The Day: Nonfarm Payroll Show Largest Increase in 3 Years

 Chart & Analysis Courtesy of ChartOfTheDay.com 

On Friday April 2nd, the Labor Department reported that nonfarm payrolls (jobs) increased by 162,000 in March -- the largest increase in three years.

Today's chart puts that decline into perspective by comparing job losses following the beginning of the current economic recession (solid red line) to that of the last recession (dashed gold line) and the average recession from 1950-1999 (dashed blue line).

As today's chart illustrates, the current job market has suffered losses that are more than triple as much as what occurs at the lows of the average recession/job loss cycle.

It is also worth noting that previous job market declines did not tend to end abruptly but rather flattened out before moving back into an expansionary phase.

Today's relatively positive jobs report provides an early indication that the current job market is moving from a phase of stabilization to that of expansion.

Chart of The Day - Job Growth Plunges in the 2000s Decade

Chart Courtesy of ChartofTheDay.com

On Friday, January 8, 2010, the U.S. Labor Department reported that nonfarm payrolls (jobs) decreased by 85,000 in December while the data for November was revised upward and now shows a gain of 4,000 jobs.

For some perspective, the chart herein illustrates the percent increase in the number of jobs for every decade since the 1940s (the data goes back to 1939).

As today's chart illustrates, the number of jobs at the end of a decade has been anywhere from +20% to +38% greater than 10 years prior.

That +20% plus growth has been the case until the decade just passed during which the number of jobs basically ended the year where it began.

This subpar job growth is particularly noteworthy due to the fact that the U.S. population has increased by +10% in addition to a significant increase in global wealth during the same time frame.

Chart of The Day - Job Losses Are Over 3 Times The Average Trough

Chart and analysis courtesy of www.ChartOfTheDay.com

Today, the Labor Department reported that nonfarm payrolls (jobs) decreased by 11,000 in November -- the smallest decline since the recession began at the close of 2007.

Today's chart puts that decline into perspective by comparing job losses during the current economic recession (solid red line) to that of the last recession (dashed gold line) and the average recession from 1950-2006 (dashed blue line).

As today's chart illustrates, the current job market has suffered losses that are more than triple as much as what occurs at the lows of the average recession/job loss cycle.