Graph for the Day for November 6, 2010

"Based on today's jobs report, we've now seen private-sector job growth for 10 straight months.  That means that since January, the private sector has added 1.1 million jobs.  Let me repeat, over the course of the last several months, we've seen over a million jobs added to the American economy.  In October, the private sector has added 159,000 jobs.  And we learned that businesses added more than 100,000 jobs in both August and September as well.  So we've now seen four months of private-sector job growth above 100,000 [jobs], which is the first time we've seen this kind of increase in over four years."  President Obama, November 5, 2010.

Sources:  Geoff, via AoSHQ, and the St. Louis Fed/FRED.

Hoven's Index for August 6, 2010

Private sector jobs in December 2007 (peak):  115,574,000

Private sector jobs in December 2009 (trough):  107,107,000

Net private sector job loss (Dec. 07 to Dec. 09):  8,467,000

Private sector jobs in October 2010 (most recent):  108,222,000

Time to reach the 2007 peak, given the rate of growth since Dec. 2009:  5.3 years

Given the rate of growth in October:  3.8 years (summer of 2014)

Source:  St. Louis Fed/FRED.

Graph of the Day Archive.