U.S. Labor Market
Since the bottom of the recession almost eight years ago, the U.S. economy has seen the creation of slightly over 14 million jobs—a pace of nearly two million jobs a year. However, since many of these “newly created” jobs simply replaced jobs that were lost during the downturn, the real net gain since 2009 is closer to 6.9 million new jobs. Additionally, during the last three years, the pace of job growth has been slowing. From a monthly average of 251,000 in 2014, new jobs grew by 229,000 in 2015 and last year by 180,000.