Over the last week there have been two important releases on the state of the U.S. labor market: last Friday's employment report and this Tuesday's JOLTS report (Job Openings and Labor Turnover Survey). While financial market participants pay very close attention to the small changes in nonfarm payrolls, they often don't take a step back to look at the bigger picture of where job growth (and losses) has been taking place throughout this economic expansion. In this week's Economics Weekly, we look at the overarching view of employment growth.
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Richard de Chazal, CFA is a London-based macroeconomist covering the U.S. economy and financial markets.