|Today, the Labor Department reported that nonfarm payrolls (jobs) decreased by 85,000 in December while the data for November was revised upward and now shows a gain of 4,000 jobs. For some perspective, today's chart illustrates the percent increase in the number of jobs for every decade since the 1940s (the data goes back to 1939). As today's chart illustrates, the number of jobs at the end of a decade has been anywhere from 20% to 38% greater than 10 years prior. That 20% plus growth has been the case until the decade just passed during which the number of jobs basically ended the year where it began. This subpar job growth is particularly noteworthy due to the fact that the US population has increased by 10% in addition to a significant increase in global wealth during the same time frame.Notes:
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Quote of the Day"Not only our future economic soundness but the very soundness of our democratic institutions depends on the determination of our government to give employment to idle men." - Franklin D. Roosevelt
Events of the DayJanuary 17, 2010 - Golden Globe Awards
January 18, 2010 - Martin Luther King Jr. Day (observed) - Australian Open Tennis Tournament begins (ends Jan. 31st)
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