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The jobs situation continues to improve

The jobs market continues to improve, according to ADP's job loss estimate (top chart). The ADP figures have been tracking the the BLS numbers pretty well, and from eyeballing the chart it looks like we are very close—perhaps just a month away—from seeing net job gains being reported in both series. The Challenger count of announced corporate layoffs jumped last month, but as the second chart shows this is very typical even during times of strong economic growth (e.g., 2003-2005). A healthy economy is always experiencing some form of "creative destruction."

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