Friday, January 08, 2010

Chart of the Day: Nonfarm payrolls Decade Gains (1940-2009)

This from Chart of the Day this morning. The chart shows clearly the impact of the Bush years of this last decade on Employment and job growth. Our people suffer today (17.5% are either underemployed or unemployed) because of the effects of the lack of job growth. This is an amazing statistic: This past decade is the first decade on record during which the number of jobs increased by less than 20%. To quote Chart of the Day site:

"Today, the Labor Department reported that nonfarm payrolls (jobs) decreased by 85,000 in December while the data for November was revised upward and now shows a gain of 4,000 jobs. For some perspective, today's chart illustrates the percent increase in the number of jobs for every decade since the 1940s (the data goes back to 1939). As today's chart illustrates, the number of jobs at the end of a decade has been anywhere from 20% to 38% greater than 10 years prior. That 20% plus growth has been the case until the decade just passed during which the number of jobs basically ended the year where it began. This subpar job growth is particularly noteworthy due to the fact that the US population has increased by 10% in addition to a significant increase in global wealth during the same time frame."

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