Of Job Growth and Recessions

Add this graphic from this NY Times article to the growing collection of charts portending doom for the U.S. economy (or at least another recession), this one based on the idea that job growth in the U.S. has slowed to a pace that, without exception over the last 50 years, has been associated with recessions (i.e., either heading into, in, or exiting a slowdown).

Of course, word earlier today that weekly jobless claims “unexpectedly” rose, up 2,000 to 414,000 for the week ended Sept. 3rd as employers stepped up their pace of firing, only adds to the negative feedback loop that the U.S. economy entered a few months ago.