Since we all can’t work for the Census Bureau, let’s look at the following charts (from Ron Griess of The Chart Store). These show the real economy — private sector hiring without the government stimulus.
Note the annual changes (middle chart, Private Payroll). It is approaching 6 million job losses per year. This is uncharted territory, an annual rate of change unprecedented for as long as the data has been tracked, going back to 1939:
Total Changes in Private Payrolls
Monthly Changes Private Payrolls
Originally published at The Big Picture blog and reproduced here with the author’s permission.