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Economic and Employment Trends: U.S. Private Sector from 2001 to 2014

This analysis by James W. Hughes and Dean focuses on the business cycle phases from the expansion period (November 2001 - December 2007) through the Great Recession (December 2007 - June 2009) to the current expansion lasting until September 2014. It highlights U.S. private-sector employment changes measured from December to December and provides detailed employment statistics in New Jersey between 2009 and 2013. It emphasizes the impact of demographic shifts due to the aging baby boomer population and the rise of echo boomers on the workforce and economy.

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Economic and Employment Trends: U.S. Private Sector from 2001 to 2014

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  1. Economic, Demographic and Technological Change James W. Hughes, Dean 2014

  2. Business Cycle Phases Expansion: November 2001 - December 2007 (Great)Recession: December 2007 - June 2009: 18 months in length Current Expansion: June 2009 – September 2014: 63 months in length Average Duration of Post-WW II Expansions: 58 months

  3. U.S. Private-Sector Employment Change2009-2013 Source: U.S. Bureau of Labor Statistics. Note: Employment change measured from December to December, seasonally adjusted.

  4. U.S. Private-Sector Employment Change2009-2014 Source: U.S. Bureau of Labor Statistics. * Based on first 8 months ( December 2013 – August 2014). Note: Employment change measured from December to December, seasonally adjusted.

  5. New Jersey Private-Sector Employment Change2009 - 2012 Source: U.S. Bureau of Labor Statistics. Note: Employment change measured from December to December, seasonally adjusted.

  6. New Jersey Private-Sector Employment Change2009 - 2013 Source: U.S. Bureau of Labor Statistics. (*) Estimate based on data through June 2013.

  7. 2013: Private-Sector Employment • 2013: First 6 Months +31,400 jobs • 2013: Last 6 Months -11,600 jobs • 2013: Full Year +19,800 jobs

  8. New Jersey Private-Sector Employment Change2009 - 2013 Source: U.S. Bureau of Labor Statistics. Note: Employment change measured from December to December, seasonally adjusted.

  9. 2013: Private-Sector Employment • 2013: First 6 Months +31,400 jobs • 2013: Last 6 Months -11,600 jobs • 2013: Full Year +19,800 jobs

  10. New Jersey Private Sector Employment Change Q1 2013 – Q2 2014 Source: New Jersey Department of Labor and Workforce Development.

  11. New Jersey’s Economic Roller Coaster(Employment change for periods indicated) Source: New Jersey Department of Labor. Note: ( ) indicates employment loss.

  12. Obsolete Industrial Plant

  13. The Great 1980s Office Building Boom

  14. Suburban Office Agglomeration

  15. Information Technology Eras

  16. 386 Microprocessor

  17. Information Technology Eras

  18. Information Technology Eras

  19. AT • Maturing Baby Boom – Redefining Maturity • Echo-Boomers/Gen Y/Millennials – Redefining the Workforce/Workplace

  20. The Postwar Baby Boom: 1946-1964

  21. The Largest Generation in U.S. History

  22. Tract-House Suburban New Jerseye Suburban N.J. • Source: The New York Times

  23. McMansion

  24. Serious Serious Middle-Aging

  25. BABY BOOM: REINVENTING MATURITYabyBoom Reinventing Maturity 2011: First Boomer turned 65 years of age 2014: All Boomers between 50 and 68 years of age 2015: Fully one-half of all Boomers will be in their 60s 2016: First Boomers will turn 70 years of age

  26. We will not fade away quietly! Source: Christian Science Monitor

  27. The The Eventual Slowdown Slowdown

  28. Baby Boomerin Retirementn Retirement

  29. Beach Boys: Little Deuce Coupe

  30. The Invasion of the Stroller People

  31. Echo Boom: 1977-1995oom: 1977-1995

  32. Generation “Y” Today

  33. The Digerati

  34. Girl-Boy Brooklyn Hipsters

  35. 1970s George and Albany Streets

  36. 2000s: George and Albany

  37. 1970s: MP 54 Electric MU Cars Electric MU Cars

  38. 1970s: Interior Seating

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