Job Growth, Or… Lack Of Growth As The Case May Be

Posted By on June 28, 2011

This is what we have to look forward to……2012 is supposed to be worse then 2011 for government, state and local jobs.  That’s why this is going to be called the LOST decade!

In March 2010, the U.S. economy finally began to add jobs again. Every month since then, private sector employment has grown. Yet almost every month since then, state and local governments have cut jobs. Without those layoffs, the U.S. labor market would have 326,000 more people employed through May 2011. Here’s a chart showing job growth with and without the impact of state and local government cuts:

Job Growth With and Without State and Local Government

You can see that the jobs picture looks better if you exclude the effect of state and local government layoffs. The only real outlier was October 2010, when state and local governments added 31,000 jobs.

www.dailyreckoning.com 

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