4 December 2010 by Chart of the day 0 Comments
Yesterday, the Labor Department reported that nonfarm payrolls (jobs) increased by 39,000 in November. 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 following a path that is similar although slightly stronger than what occurred following the recession of 2001. Another important point is that over the past 11 months (i.e. since the beginning of 2010) the trend in jobs is up — slightly.
- What are the same indicators that called the beginning and end of the Great Recession saying about the current economy? Plus, what’s in store for the market? The answer may surprise you. Find out right now with the exclusive & Barron’s recommended charts of Chart of the Day Plus.
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