Is job growth getting ready to accelerate?

– by New Deal democrat

Just about the only drawback in Friday’s employment report is that at the rate employment has been growing since it bottomed 2 years ago, it will take possibly a decade to make up all of the jobs lost plus population growth since 2007. Even job growth of 250,000 a month would be downright tepid for the 1980s or latter part of the 1990s. To substantially accelerate real, population adjusted job growth, we need monthly improvement of 300,000+ or even 400,000+ jobs.

And there are signs that we may be on the verge of achieving at least the lower part of that range in the very near future.

First of all, let’s look at updated graphs showing the relationship of the rate of initial jobless claims with the unemployment rate. Here’s the long term graph:

Read the rest here.