Chart of the Day: Net New Jobs in September

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.

The American economy added 114,000 new jobs last month. However, about 90,000 of those jobs were needed just to keep up with population growth, so net job growth is closer to 24,000 jobs. The chart below, which I update monthly, shows net job creation since the beginning of 2008. Those of you with sharp memories will note that the past three months look bluer than they used to. This is because the BLS revised its July and August estimates upward. It’s still nothing to write home about, but job creation over the past few months has been a bit healthier than it initially looked.

Politically, this jobs report has something for everyone. The Romney will camp will correctly point out that the recovery remains pretty sluggish. The Obama camp will correctly note that the unemployment rate has now fallen from 9.0% to 7.8% over the past year. The Romney camp will correctly point out that the payroll survey (see chart below) doesn’t suggest job creation is really all that robust right now. The Obama camp will simply be happy that the headline unemployment number went down a bunch and the Romney team can no longer chirrup endlessly about “xx straight months of unemployment above 8%.” You should feel free to adopt your own talking points accordingly.

UPDATE: I originally said that the unemployment rate had gone down partly because people were dropping out of the labor force and therefore no longer being counted as unemployed. That was true last month, but not this month. Sorry about that. I’ve corrected the post.

 

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate