Friday, August 5, 2011

Chart of the Day - Job growth picks up -- slightly

Stock markets staggered this week, despite the debt ceiling compromise, ostensibly because of the (un)employment situation. And might have started lifting today on a more positive employment picture. How appropriate therefore that the folks at Chart of the Day have prepared a comparison showing how these data compare with past recessions. Maybe things will pick up from here? If so, that would make a significant difference in an economy thirsting for improvement. So take a look and decide for yourself:
Chart of the Day - Job growth picks up -- slightly
With the US economic recovery faltering and the job market struggling, investors are currently focused on the latest job reports. The latest jobs report came out today with the Labor Department reporting that nonfarm payrolls (jobs) increased by 117,000 in July. Today's chart puts the latest data into perspective by comparing nonfarm payrolls following 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 somewhat similar although, to date, slightly stronger than what occurred following the recession of 2001. Another important point is that while job growth slowed significantly over the past few months, the pace did pick up in July – albeit slightly.

- Will the Dow crash? 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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Quote of the Day
"If you have two jobs and you're rich, you have diversified interests. If you have two jobs and you're poor, you're moonlighting." - anonymous

Events of the Day
August 08, 2011 - PGA Championship begins (ends August 14th)

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