Chart of the Day - Jobs down for third consecutive monthToday, the Labor Department reported that nonfarm payrolls (jobs) decreased by 54,000 in August -- the third consecutive decline. Today's chart puts the latest data 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. Also, today's decline in jobs provides further evidence that the current 'economic recovery' remains sluggish at best.
- The market is at a critical juncture. Where we go from here may surprise you. Find out right now with the exclusive charts of Chart of the Day Plus.Rate today's Chart of the Day
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Quote of the Day
"Henry Ford was right. A prosperous economy requires that workers be able to buy the products that they produce. This is as true in a global economy as a national one." - John J. Sweeney
Events of the Day
September 06, 2010 - Labor Day
September 12, 2010 - National Grandparents' Day
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Friday, September 3, 2010
Chart of the Day - Jobs down for third consecutive month
Employment is an important measure of fundamental economic health. With all the recent reports, it's helpful to take a step back and see how it's looking over the long haul. The folks at Chart of the Day have updated their big picture look at it. It sure is helpful to see! I think from a glass half empty, glass half full dichotomy, the stock can be seen as similar. Maybe it's making an interim high before rolling down again. Or maybe it's curling up and will keep rallying? For myself, given the depth of the drop, I hardly see how employment will just keep on upward ... But you decide for yourself. Here's a look at what they are saying: