Today’s Jobless claims numbers were encouraging, as was last week’s Employment Situation report. This gives hope that employment, the stubbornly weakest aspect of the recovery, may finally be improving.
Nonfarm Payrolls (% change from recession end)
Source: Chart of the Day
As the chart above shows, job creation in the present recovery continues to lag similar periods in other post-recessionary cycles. Note the scope and duration divergence from the previous recoveries in the 90s, and in 2nd half 20th century.