Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month's Graphic Content.
The Graphic Content above shows us that young and middle-aged workers were hit the hardest by the Great Recession, and they have never caught up. Since the job market started to recover in 2010, over 55s have enjoyed nearly 60% of all job gains, having fared best through 2008-2009.
Surely the economy needs more of a more balanced labour market expansion before we can say there is no slack left.
To read more, and to sign up for exclusive Allianz Global Investors content, please visit bondissues.co.uk