CHART OF THE DAY: Actually, There Was Some Awesome Jobs News Today

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Forget the meh ADP report.

The best jobs news of the day was that stronger-than-expected construction number and a particularly strong residential construction number for December.

As the chart below makes clear, growth in residential construction leads construction jobs, so this seems like a pretty sure driver of more construction jobs on the way in the coming months.

Red: Construction spending growth. Blue: Residential construction spending growth. Green: Construction employment growth.

chart of the day, construction employees and spending, feb 1 2012

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