Celebrating 20 Years of Job Growth Since The Dot Com Bust

The jobs report came out today, and it has caused great optimism in the financial markets.

I decided to look at job creation for precisely the past 20 years. Coincidentally, May 2003 was precisely the month when the jobs report reflected the end of the recession which we called, The Dot Com Bust.

I went to the bureau of labor statistics BLS.GOV to get the numbers to draw a chart: Job Creation from May 2003 thru April 2023.



What strikes me as an amazing coincidence about this chart, is that it has reset itself almost exactly to zero job growth, not once, but twice, since the infamous recession known as The Dot Com Bust.

7 years later it reset to zero in 2010, then,

10 years later it reset to zero in 2020.

Now there have been about 25 million new jobs created since the 2020 covid recession.

What says the ATS crowd? Are we out of the woods? Will we see ANOTHER reset to zero? Will the next recession be even worse? Or just no comment?

a reply to: InachMarbank

Addition by Subtraction . Where have I seen this Before ? .Hmm....

a reply to: InachMarbank

The data set looks odd, and it doesn’t make sense considering at face value it would imply other data points should be higher two.

At the two resets we saw two things happen, the first got many to pick up a second job. During the second time around we saw the creation of the gig economy.

Now, there are some good high paying jobs out there, and in many cases a favorable market for job seekers.

But I think the lions share of the added jobs are from people who would prefer to have one good job now picking up a second. Teachers come to mind.

originally posted by: Zanti Misfit
a reply to: InachMarbank

Addition by Subtraction . Where have I seen this Before ? .Hmm....

Addition by subtraction usually means removing a negative to get a positive.

Example:

1 - (-1) = 2

Where have you seen what before?

a reply to: InachMarbank

What is considered a "JOB".

I mean, are they counting Youtube channels, Instagram posters, etc?

originally posted by: CriticalStinker
a reply to: InachMarbank

The data set looks odd, and it doesn’t make sense considering at face value it would imply other data points should be higher two.

The data comes from BLS.GOV. It shows what they assess to be net cumulative jobs gained or lost, starting May 2003 thru April 2023.

a reply to: infolurker

Any occupation that earns an income.

A survey of 144,000 businesses and 60,000 households across the US is conducted each month to provide an accurate estimate of jobs created or lost each month.

a reply to: InachMarbank

From 2003 through 2008, under George W Bush, job growth increased essentially at a constant rate until the financial market crash in the fall of 2008-winter of 2009. Within about a year job growth had returned to its previous rate and remained that way for the next seven years under Obama and the first 3 years of Trump, when it was torpedoed by the Covid pandemic. It has now returned to its previous rate under Biden.

It doesn’t seem to make much difference whether a Democrat or Republican is in the White House.

a reply to: 1947boomer

Ya the topic seems to transcend politics, though politicians try to take credit for good times, and blame the opposition for bad times.

For me the chart is interesting, because of how it kept falling back zero, erasing all prior growth.

Really the only growth in the job market in the 21st century has come after Covid. Does that mean Covid is the crisis that has restructured the system to usher in a new era of job growth?

originally posted by: InachMarbank

originally posted by: Zanti Misfit
a reply to: InachMarbank

Addition by Subtraction . Where have I seen this Before ? .Hmm....

Addition by subtraction usually means removing a negative to get a positive.

Example:

1 - (-1) = 2

Where have you seen what before?

Guess you did Not get the Biden Administrations Via his " Handlers " Message . Liberal New/Speak says...... 1 + 1 = 1 .


Addition/Subtraction Is Politically Correct .

a reply to: Zanti Misfit

I’m not sure what you’re referring to…

originally posted by: InachMarbank
a reply to: Zanti Misfit

I’m not sure what you’re referring to…

Yeah , I See...........