|Today, the Labor Department reported that nonfarm payrolls (jobs) increased by 290,000 in April -- the largest increase in four years. Today's chart puts the latest data into perspective by comparing job losses following the beginning of the current economic recession (solid red line) to that of the last recession (dashed gold line) and the average recession from 1950-1999 (dashed blue line). As today's chart illustrates, the current job market has suffered losses that are more than triple as much as what occurs at the lows of the average recession/job loss cycle. However, today's relatively positive jobs report provides an early indication that the current job market is moving into a phase of expansion.Notes:
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Quote of the Day"It's not the most intellectual job in the world, but I do have to know the letters." - Vanna White
Events of the DayMay 09, 2010 - Mother's Day
May 12, 2010 - Cannes Film Festival begins (ends May 23rd)
May 15, 2010 - Preakness Stakes - Armed Forces Day
May 18, 2010 - French Open tennis tournament begins (ends June 6th) - Indianapolis 500
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