An Economist Has Put Together The Ultimate Guide To The State Of The Job Market

Last Friday, we got one of the strongest BLS jobs reports of the post-recession era.

Deutsche Bank’s Torsten Slok has taken this as a cue to compile 26 charts that explain the state of the U.S. labour market.

The biggest takeaway here is that we seem to be turning a corner in all the jobs areas that have been lagging for more than five years, especially government and construction.

However, some measures, like gross jobs gains by company size are still lagging.

And there’s one shocking statistic at the end about full-time versus part-time jobs.

Monthly payroll growth has been consistent.

The 12-month moving average for all but one sector is now positive.

We returned to pre-recession levels in May.

The emp-pop ratio appears to be jerking upward.

Service jobs have added the most absolute jobs.

Construction jobs are recovering.

Government, which has long lagged, is finally seeing growth.

Trade and transport has been mostly healthy.

Temp hiring is falling off.

Companies are curbing layoffs.

Small business data is a bit noisy but mostly positive.

They appear to be saying one thing and doing another.

And in another wrinkle, ADP says they *are* hiring.

There have definitely been more openings.

In general openings are up everywhere.

Large and small businesses are now growing at almost the same rate.

But gross jobs gains have not improved.

Winter was brutal.

Overtime is back.

Cuts have stopped.

This is the most shocking: All new jobs crated over the past four years have been full time.

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