Thursday, September 29, 2011

Are we in the midst of a structual change in employment patterns?

Dave Altig at the Federal Reserve Bank of Atlanta (see here) has a very interest graph posted. (see below, click to enlarge). "The following chart shows pre- and postrecession, cross-sector average monthly changes in payroll employment, broadly defined according to U.S. Bureau of Labor Statistics' classifications. For reference, the size of the circles in the chart reflect the relative prerecession size of the sector in terms of employment."  


He states:

In general, the pattern of circles is such that those sectors with relatively high employment changes prerecession are those that have exhibited relatively high changes during the recovery. In other words, we have not yet seen a widespread reshuffling of cross-sectoral employment trends outside of the recession.

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