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Average Monthly Payroll Creation 'On A Tear,' According To New Analysis

Hff payroll chart

Although US job growth slowed slightly in Q1, the macro picture of the economic times we live in appears to be a happy one.

The Bureau of Labor Statistics reports the US economy created 2.7 million jobs in 2015—the highest level of job growth since 1999. Expansion over the last five years resembles that of the famously bullish cycle of 1992 to 1995.

But, 42% of private sector job growth came from construction, manufacturing, retailers, hotels, restaurants and temp agencies, all typically low-paying sectors. [HFF]