Friday, April 1, 2011
Non-Farm Payroll Perspective
Today, the Labor
Department reported that nonfarm payrolls (jobs) increased by 216,000 in
March. Today's chart puts the latest data into perspective by
comparing nonfarm payrolls following the the end of the latest economic
recession (i.e. the Great Recession -- solid red line) to that of the
prior recession (i.e. 2001 recession -- dashed gold line) to that of the
average post-recession from 1954-2000 (dashed blue line). As today's
chart illustrates, the current jobs recovery is much weaker than the
average jobs recovery that follows the end of a recession. Today's
chart also illustrates that the current jobs recovery is slightly
stronger than what occurred following the recession of 2001 and that the
trend is up.
Labels:
unemployment