Happy Easter: The Energizer Bunny Economy

From yesterday's Employment Situation Summary, the BLS reported that U.S. employment grew by 180,000 in March and that job growth in January and February was stronger than previously thought. The March U.S. unemployment rate edged down to 4.4%, the lowest level since October, matching a six-year low (May 2001 was the last time the jobless rate was below 4.4%).

Since January 2002 when civilian employment bottomed out at 135.7 million following the 2001 recession, more than +10.5 millions jobs have been added to the U.S. economy (see graph above, click to enlarge), despite record trade deficits, globalization, outsourcing, offshoring, etc. At that pace of job creation, U.S. employment has increased by:

5,780 new jobs every day for the last 5 years
240 new jobs every hour
4 new jobs every minute
1 new job every 15 seconds

In just the time it takes to read this post, at least several new jobs will have been created somewhere in the U.S. economy.

Lou Dobbs, listen up!