Where’s The Jobs Program
I knew things were bad but this Digby post shows how bad:
The December jobs figures out today indicate that there were 725,000 more jobs in the private sector than at the end of 2008 — and 697,000 fewer government jobs. That works into a private-sector gain of 0.6 percent, and a government sector decline of 3.1 percent.
In total, the number of people with jobs is up by 28,000, or 0.02 percent.
There are around 150,000 people per month added to the work force, and we have been adding an average of less that 600 jobs per month.
I knew governments were laying people off, but I didn’t really appreciate the size of the lay offs. The standard economic reporting on jobs is always limited to the numbers for non-farm jobs, and never addresses the changes in the public sector.