Trend spending is shown by the dashed lines and is constructed using the average growth rates from January 2018 to January 2020. Source: U.S. Bureau of Economic Analysis. Figure 2. The Labor Market Is Recovering, but the Recovery Is Far from Complete B. Measures of unemployment  A.
Change in nonfarm payrolls and total hiring 8000  Thousands  Thousands  4000  27  Percent  Monthly  27  Adjusted unemployment rate 24  24  21  21  18  18  15  15  12  12  9  9  2000 7000  Payrolls (right axis) 0  6000  Hires (left axis)  -2000  -4000 6  6  Unemployment rate  5000  3  3  Long-term unemployment rate  -6000  4000  -8000 2018  2019  2020  2021  Note: Payroll data are three-month moving averages of total nonfarm payroll employment and extend through July 2021.