Saturday, October 20, 2012

"The Private Sector is doing fine" revisited---Nice graph here to support your point of view on this statement, whether you agree or disagree with it.

This graph is as simple as it gets when looking at the change in private and public sector jobs since the advent of the recession in December of 2007 (the official end of the recession was declared in June 2009).

It is divided up into 2 year segments (I assume some overlap).  From 2008 to 2010 net job LOSSES (jobs added minus jobs lost) in the private sector were 6,833,659.

From 2010 to 2012 there was a net job GAIN of 3,936,444. 

The difference between these two numbers will result in a "jobs deficit" relative to pre December 2007.  In other words, we are short 2,897,215 jobs to get us back to where we were just before the recesson hit. In percent terms we have recovered 58% of the jobs lost.

If you do the same math for the public sector (Government jobs at the local, state, and federal level) you will find a deficit of 443,969 jobs.

Now you know....
Source: EMSI

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