Graph for the Day for October 9, 2010

"This morning, we learned that in the month of September, our economy gained 64,000 jobs in the private sector.  July and August private sector job numbers were revised upwards.  So we've now seen nine straight months of private sector job growth -- in all, more than 850,000 private sector jobs gained this year, which is in sharp contrast to the almost 800,000 jobs that we were losing when I first took office.  But that news is tempered by a net job loss in September, which was fueled in large measure by the end of temporary Census jobs and by layoffs in state and local governments."  President Obama, Oct. 8, 2010.

Sources:  Geoff via
Ace of Spades HQ and St. Louis Fed/FRED, PAYEMS series.

Hoven's Index for October 9, 2010

Changes in various job categories in the last 9 months (from Dec. 2009 thru Sep. 2010):

Total non-farm jobs:  +613,000

Private sector:  +863,000

Non-durable goods manufacturing:  -4,000

Construction:  -92,000

Years to reach previous peak of private sector jobs if pace of last 9 months continues:  6 years and 7 months from now (8 years after recession ended)

Years to reach previous peak of private sector jobs after 2001 recession ended:  3 years and 7 months

Sources:  St. Louis Fed/FRED and author's calculations.

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