Another month, another record.

[Arkady]

September job creation numbers are in, and yet again the economy added jobs. This brings to 60 consecutive months the record-long run of job creation we've been having. Before Obama took the helm, the previous record was 48 months, so we've now bettered the old record by a full year, or 25%, which is pretty damned impressive.

The BLS has only tracked job creation since 1939, so we can only say definitively this is a record for that period, but given the high frequency of recessions in the pre-New Deal economy, it's almost certainly an all-time record as well (before the New Deal, the longest we ever went without a recession was just 46 months, during the Civil War).

Job creation in September wasn't as strong as earlier in the year, much less the blistering pace of 2014, but it was an improvement over August, and more than enough to outpace population growth. The job count (using the establishment survey) increased about 0.1% in the month, versus about 0.9% population growth in the same time.

The current economic growth cycle is already one of the longest in American history, having started way, way back in June 2009. Only four growth cycles have ever lasted longer than that, and one of those only by a few months. So, with each passing month it becomes increasingly likely that a correction is due. But it'll be interesting to see how long this epic run of job creation will go before it's done.

 

[Boltlady]

September job creation numbers are in, and yet again the economy added jobs. This brings to 60 consecutive months the record-long run of job creation we've been having. Before Obama took the helm, the previous record was 48 months, so we've now bettered the old record by a full year, or 25%, which is pretty damned impressive.

The BLS has only tracked job creation since 1939, so we can only say definitively this is a record for that period, but given the high frequency of recessions in the pre-New Deal economy, it's almost certainly an all-time record as well (before the New Deal, the longest we ever went without a recession was just 46 months, during the Civil War).

Job creation in September wasn't as strong as earlier in the year, much less the blistering pace of 2014, but it was an improvement over August, and more than enough to outpace population growth. The job count (using the establishment survey) increased about 0.1% in the month, versus about 0.9% population growth in the same time.

The current economic growth cycle is already one of the longest in American history, having started way, way back in June 2009. Only four growth cycles have ever lasted longer than that, and one of those only by a few months. So, with each passing month it becomes increasingly likely that a correction is due. But it'll be interesting to see how long this epic run of job creation will go before it's done.

You did notice this part right?

"Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday."

U.S. job growth stumbles, raising doubts on economy - Yahoo Finance

And then there's this:

"Over the past three months, the job numbers for native-born have dropped by nearly 1 million, exactly the number of jobs President Obama promised to add when he ran for re-election in 2012.

During that period, jobs for immigrants grew 218,000."

Jobs up only for immigrants, +14,000, down 262,000 for 'native-borns' | Washington Examiner

 

[Arkady]

You did notice this part right?

"Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday."

U.S. job growth stumbles, raising doubts on economy - Yahoo Finance

And then there's this:

"Over the past three months, the job numbers for native-born have dropped by nearly 1 million, exactly the number of jobs President Obama promised to add when he ran for re-election in 2012.

During that period, jobs for immigrants grew 218,000."

Jobs up only for immigrants, +14,000, down 262,000 for 'native-borns' | Washington Examiner

I'm not a nativist, so I'm happy to see this record-long run of job creation regardless of whether the latest jobs that were created were for people born here or born abroad. In fact, I was born abroad, myself.

As for the downward adjustment for August, that still left us with enough job creation to outpace population growth that month. And with September numbers having come in stronger than August numbers, it helps to counter the impression that we're on a downward slide. Certainly it would be nicer to see a continuation of 2014's very strong job creation, rather than the current moderate pace, but I think it's a bit much to expect very fast job creation at a time when government austerity, Chinese economic turmoil, and attempts at Republican obstructionist grand-standing are all tag-teaming to keep the US economy off balance. With those kinds of challenges, I'm pleased with "slow and steady."

 

[as seen on tv]

a new record - arkady post 2 replies to his own top post, in order to keep it from sliding off page 1, LOL.

here . .. I'm helping you out, Ark-man. You're now back to the top of page 1.

and you still can't change the fact that official "pristine site" temperature sources show NO WARMING FOR 18 YEARS.

only the "urban sites" and those which NASA is allowed to "adjust" ever show warming. Fraud funded at taxpayer expense.

who's paying you, though?