Think about this for a second: The U.S. has created jobs every month since September 2010. That comes out to an incredible 47 straight months of job growth, creating 8.853 million jobs.
Now those might not really be ‘new’ jobs, as we lost nearly nine million jobs at the depths of the recent recession.
Below is a great chart which shows the whole picture. It might be a big smile, but few are truly smiling when they see it.
Jobs Growth Since February 2008
Back to that streak of 47 months of jobs growth. It actually just passed the 46 straight months from ’03-’07. The expansion last decade saw 7.869 million jobs created, so the current jobs growth is actually a little more. Lastly, the all-time record for monthly job growth is 48 months in a row from ’86-’90. That expansion created 10.708 million jobs.
Here’s a great chart showing all of this.
Monthly Jobs Growth Since 1940
There’s a good chance we tie the record next month, as nearly everyone expects a positive number. In fact, I wouldn’t want to bet against the next two months being positive and setting a new record. What really stands out to me though is how the three previous expansions all ended right around now. Which begs the question, is jobs growth about to end? History would say it’ll happen very soon.
I’ll be following this one closely.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
