Saturday, October 8, 2011

About Jobs and Courage: Chart of the Day on job growth

The loss of jobs - and of Steve Jobs - looms large over society and the markets now. Steve Jobs himself was the epitome of an entrepreneur typifying all that's good about the free market system. That system has its challengers nowadays, including but not limited to proponents of so-called "sustainable development" and "class warfare". One of the biggest myths is that people get stuck in a "class". An open system allows individuals to move, thrive and achieve, and reap the rewards. But I digress. The good folks at Chart of the have prepared a comparison of the current jobs recovery against the big recessions of the past.

And they've included a memorable quote from Steve Jobs below, too. Words to live by, no matter how this economy fares in coming months and years. Check it out:
Chart of the Day: Job growth picks up - slightly
The latest jobs report came out today with the Labor Department reporting that nonfarm payrolls (jobs) increased by 103,000 in September. 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 has been slightly stronger than what occurred following the recession of 2001. However, the already modest upward trend has slowed significantly over the past five months.

- Where's the market headed? 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
"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma – which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary." - Steve Jobs

Events of the Day
October 08, 2011 - Yom Kippur
October 10, 2011 - Columbus Day (observed)

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