US Employment History by Sector

 In the last half century US policies have profoundly changed the way Americans earn their daily bread.  This post quantifies a few of those changes.  The data comes from the US Bureau of Labor Statistics (BLS) Nonfarm labor payroll surveys.  Previous posts here and here summarize the difference between the  BLS "nonfarm" and BLS "total" labor reports.

 Chart 1:  Total "Nonfarm" US employment showing Government and Private sectors
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Measuring Unemployment and Job Growth

A Long Road Ahead .... NYTimes

Chart 1: *METHODOLOGY: Total nonfarm payroll employment, seasonally adjusted, is from the Current Employment Statistics survey. The employment-to-working- age-population ratio used, 59.36%, is the June 1990-Nov. 2007 average; the working-age population is based on the Current Population Survey, and is projected to grow at the 2000-10 average, 0.103% a month. Recovery job growth rates are based on the periods Jan. 1993-Dec. 1999 and Jan. 2004-Dec. 2006.

Seth W. Feaster/The New York Times 

Source: Bureau of Labor Statistics (projections calculated by The New York Times based on B.L.S. figures)
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BLS Employment Report Today

I will be publishing a series of "Unemployment 101" posts in the next few weeks.  Meanwhile here is data published today by the BLS with commentary from a few sources

From the Economist

TODAY, the Bureau of Labour Statistics released the last set of American employment numbers to come ahead of the November Congressional elections.

Myths de Jour, Krugman and Me

 Krugman has a piece which resonates.  My comments precede his oped below.

The mythology of the "invisible hand" of "free market competition" working in "an efficient market" was pushed when it was profitable for American corporations and banks.

Fifteen Non GDP Measures of US Economic Health

Most of my posts discuss US economic health.  I almost always use GDP growth as a measure, and will continue to do so.

Though GDP as a yardstick of economic health is deeply flawed, it is the only  measure universally recognized by politicians and economists, and is a not unreasonable measure of economic growth, albeit not economic health.  

The Economist on Democratic Woes and Unemployment

From the Economist ... emphasis mine

The Democrats may not merely lose the House in November, but the Senate too. How did it go so wrong?

Jul 22nd 2010

....

Its Democratic masters say that the 111th Congress has been bold, busy
and effective. Since starting work in the middle of an economic crisis
it has authorised $1 trillion or so of stimulus spending, steered GM and
Chrysler out of bankruptcy, pushed through health-care reform and
overhauled financial regulation
....

Unemployment -- A First Look.

From Calculated Risk, -- job losses in the current recession compared with other post WWII recessions. 

Energy and US Economic Growth

I wanted to take a brief break from talking about debt as a drag on US economic growth.  

So... here are a few words and a few pictures about oil, an even more fundamental limitation than US debt, on world and US economic growth. 

Chart 1: Chart from an EIA Energy Conference in April 2009 from a presentation by Sweetnam
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