A Very Graphic Guide To The Horrendous State Of The US Jobs Market

great depression

On Friday we get the big one, the monthly jobs report.

After several months of gains, analysts are looking for a net loss of about 100K jobs, largely due to the end of Census season.

So obviously the focus will be on private sector job creation.

So to help you prepare for this Friday, we’ve assembled some key charts showing the current state of the US labour market, which, yes, remains horrendous.

Let’s take a look.

Small businesses continue to shed more jobs than they create.

And, optimism is waning, as more small businesses expect to CUT, rather than create, jobs in the future.

This is particularly worrisome, since small businesses provide almost all job creation after recessions.

Meanwhile, the government keeps adding jobs.

While construction employment slides with no end in sight.

Manufacturing total employment is showing the tiniest of signs of bottoming out

Average weekly hours of construction workers is still well below recent highs

Manufacturers are starting to cut back on the work week already.

The financial industry is still in job-shedding mode.

One of the most depressing charts there is: Average duration of unemployment is a straight up-line.

The total civilian employment population ratio remains pathetically below 60%.

Again, those employed for 27 weeks or longer just keeps shooting straight up.

Whereas those stuck in the middle duration are disappearing.

And weekly claims -- which we get tomorrow -- have clearly stalled out right around 450K

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