Sunday, October 8, 2017

Don't look now but full-time job growth has slowed by 29% since 2015

(all data not-seasonally-adjusted)
In September 2017, full-time jobs grew barely by 2% year over year. The only other month in 2017 at 2% or higher was in April, at 2.3%, the dreaded spring of the year when the BLS' Birth/Death model adds phantom jobs to the economic data out of thin air based on business formation assumptions. All other months in 2017 so far have seen full-time jobs grow year over year by less than 2%, yielding the average shown of 1.7%. By contrast, 2016 had only three months out of the first nine below 2% growth year over year, and 2015 had none. Welcome to the slowdown, and maybe a . . ..