As our statement and podcast both explain, today’s jobs report shows that the economy still faces a long and difficult climb out of the jobs hole created by the recent recession. Private-sector job creation has averaged fewer than 100,000 jobs a month this year — not enough to keep up with population growth and not nearly enough to bring down the unemployment rate. Worse, the pace of job creation is slowing as the economy slows; only 64,000 private-sector jobs were created in September.
Below are some charts to show how the new figures look in historical context.
See our chart book for more charts.