And by exploded, we mean it in the negative sense, of course.
This chart is from Matt Yglessias (and before you say it, yes we know this includes state and local workers, but that's kind of irrelevent from the perspective of taxpayers, the economy, etc.).
As we noted earlier, austerity is the #1 killer of jobs.
- HUGE: ADP Jobs Report Smashes Expectations, With 157K New Jobs
- Some Bullish News For This Friday's Jobs Report
- STOP THE PRESSES! Strong ADP = Higher NFP Tomorrow