The last Jobs Report was all-in-all a very positive report. The numbers that came in blew away expectations and the revisions for the past two months also significantly improved those figures. Here is a chart showing the last 22 months. We have a long way to go, but growth, slow as it is, is ahead. If I’m the head of HR, I’m gearing up for a competitive 2011 – jobs are a lagging indicator for the economy.
Notes on the chart:
- Beginning in November of 2009, two years after the recession began, the jobs report starts to smooth out
- The Government numbers in 2010 are a roller coaster due to the temporary nature of census work (once a decade)
- Private sector hiring has slowly improved throughout the year (2010)
- The 2009 figures are historically bad. The normal top and low range for jobs is between a gain of 250,000 and a loss of 250,000.
Working Thoughts 11/10/08
Cultivating a Business Network
Working Thoughts 11/10/09
Unemployment Graphs and Charts – October 2009