US total private sector employment growth: the rolling cumulative 5 year rate of change using high water mark analysis. The last two growth cycles have been way below your typical post war level.
And you wonder why economic growth is low?
Cross referenced below:
Population growth, likewise historically weak as the following chart shows:
Adjusting employment growth for population growth:
And a slightly longer frame:
Employment to population ratio is well down on recent historical highs, a fact merely corroborating the first graph:
Part time employment remains elevated while the self employed (especially the unincorporated) are still struggling:
It is also interesting to note the accumulating difference between the growth in CPS and CES employment:the CES does not record the self employed and does not acknowledge multiple job holders http://www.bls.gov/opub/mlr/2006/02/art2full.pdf.
There has been an odd looking blip in multiple account holder data just as we experienced higher employment growth towards the back end of last year and a corresponding decline in the first few months of 2015:
And the overall weakness in self employed data continues:
The six monthly average rate of change in employment has slipped of late. Part of this may well be a response to the large jump in November employment as well as noted changes in multiple job holders.
And further manipulation of the CES data set is shown below: using 6 monthly average levels of employment we have then looked at annual, 6 monthly and quarterly changes and turned them into equivalent monthly rates of change:
And detailed sector views from the CES report:
It is again worth noting the importance of education and health services to the healthier employment tone since early 2014:
Funnily enough the rising importance of education and health employment seems to mirror the change in current transfer payments:
Nominal wage growth remains stuck:
But real in response to recent energy price declines has jumped:
And other charts: