The future of the US economy in one chart

Millennials are storming back into the work force.Â

Friday's monthly jobs report showed that in January nonfarm payrolls grew by 257,000 in the US. And with revisions to recent reports, the past three months were the strongest for job creation in the US in 17 years.Â

The main driving force behind this trend? Millennials.

Workers between the ages of 25 and 34 have been surging back into the workforce over the past several years, with this trend really taking off in 2014.Â

Bill McBride over at Calculated Risk also wrote about this phenomenon on Monday, highlighting the coming rise of the prime-age working population — or those between the ages of 25 and 54. In economics speak, this would be considered a "demographic tailwind."Â

Young workers today are the middle-age, household-forming, tax-paying, consuming family heads of tomorrow.

This is the most important trend in the labor market right now. This is America's economic future.Â

25-34
25-34

FRED

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