Essentially No Job Growth In Last Decade

Last week the labor department noted December non-farm payrolls fell by 85,000. This was a much larger decline than consensus estimates. This capped off a decade in which non-farm payrolls were nearly unchanged from the beginning of the decade. As the below chart notes, this is the first decade since the 1940's that job growth did not exceed 20% from the beginning to end of the period.

Source: Chart of the Day