The Jobs Report in Pictures
The latest jobs report is encouraging, but we should judge it against the overall sluggishness of the economic recovery and a persistently large jobs deficit that remains after 23 straight months of private sector job creation. Furthermore, payroll employment is still 5.6 million jobs short of where it was at the start of the Great Recession in December 2007; there are four jobless workers for every job opening; and long-term unemployment remains at an historic high level.
Below are some charts to show how the new figures look in historical context. Here is a link to our statement with further analysis. See our chart book for more charts.
Chad Stone is chief economist at the Center on Budget and Policy Priorities, where he specializes in the economic analysis of budget and policy issues. This blog post originally appeared on the Center on Budget and Policy Priorities' blog, Off the Charts (www.offthechartsblog.org).
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