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Jobs Gains are Off and Running
Sources: BLS, Moody’s Analytics
289
-1,683
-20,679
2,833
4,846
1,726
1,583716 680 264
-306
233 536 785 269 614 938 943
-24,000
-20,000
-16,000
-12,000
-8,000
-4,000
0
4,000
8,000
Feb-20 Jun-20 Oct-20 Feb-21 Jun-21
Monthly Payroll Change
Cumulative change from Feb 2020
Nonfarm employment, ths
Prime-age employment-population ratio, %
69
71
73
75
77
79
81
83
85 90 95 00 05 10 15 20
Sources: BLS, Moody’s Analytics
Full employment
Making Progress
Labor force flows, not in the labor force to employed, ths
3,000
3,500
4,000
4,500
5,000
5,500
19 20 21
Sources: BLS, Moody’s Analytics
Reopening Likely Pulling People Back

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Jobs jobs jobs

  • 1. Jobs Gains are Off and Running Sources: BLS, Moody’s Analytics 289 -1,683 -20,679 2,833 4,846 1,726 1,583716 680 264 -306 233 536 785 269 614 938 943 -24,000 -20,000 -16,000 -12,000 -8,000 -4,000 0 4,000 8,000 Feb-20 Jun-20 Oct-20 Feb-21 Jun-21 Monthly Payroll Change Cumulative change from Feb 2020 Nonfarm employment, ths
  • 2. Prime-age employment-population ratio, % 69 71 73 75 77 79 81 83 85 90 95 00 05 10 15 20 Sources: BLS, Moody’s Analytics Full employment Making Progress
  • 3. Labor force flows, not in the labor force to employed, ths 3,000 3,500 4,000 4,500 5,000 5,500 19 20 21 Sources: BLS, Moody’s Analytics Reopening Likely Pulling People Back