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Politics : View from the Center and Left

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To: D. K. G. who wrote (200444)	9/7/2012 11:44:39 AM
From: D. K. G.	Read Replies (1) of 542139

Labor Market Weakness Can Be Traced to the Biggest Loss of Government Jobs Since WWII I don't think this issue has received much (any?) attention: Most of the weakness in the U.S. labor market, the stubbornly high unemployment rate, and the slow rate of job creation can be traced to the ongoing decreases in government jobs, see chart above. The top chart above shows that since January 2010, more than 4.5 million jobs have been created in the private sector and the employment level today is 4.3% higher than at the beginning of 2010. Over the same period, government sector jobs have fallen by 2.6%, or by 579,000 jobs. In fact, the contraction of government jobs since 2009 (almost 700,000) is the largest contraction in public sector jobs since the 1945-1947 period following WWII when government jobs contracted by 770,000 jobs, and almost twice the 392,000 government jobs lost in 1981-1982 (see bottom chart above). mjperry.blogspot.com +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Interesting stat parsed from the employment data.

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