For awhile now, we've (unfortunately) followed up every non-farm payroll report with the "scariest jobs chart ever."
Furnished by
As it happens, McBride also publishes a similar chart tracking how far industrial production has recovered.
Unfortunately, like employment, we remain a decent way off from pre-recession levels. McBride:
Industrial production was off 16.9% at the trough in June 2009, and was initially one of the stronger performing sectors during the recovery. However industrial production is still 1.7% below the pre-recession peak. This indicator might return to the pre-recession peak in in 2014.
And here's the chart:
It's further evidence that talk of a recovery in manufacturing remains suspect at best.
And for context, here's McBride's chart for real personal income ex-transfer payments, which has basically completely recovered:
