Private Sector Job Losses -- Government Job Gains
By: Les Carpenter III Rational Nation USA The chart above is based on data from the Bureau of Labor Statistics.. Hmm... While the private sector has lost almost 8 million jobs since the start of the current recession in January 2008, the public sector (Government) has created 590 thousand. Since the passage of the so called stimulus bill in February 2009 the public sector added 400 thousand jobs. The private sector on the other hand has lost 2.65 million jobs since the pork barrel bill was passed. If memory serves... Didn't the EIC (Economist In Chief) claim the package would create 3.5 million jobs? Perhaps the EIC was using fuzzy feel good numbers to arrive at his grandiose claim. Or perhaps he meant 3.5 million jobs created over the next decade. Whatever the logic it doesn't seem to be working for him. In addition the EIC is growing the nation's budget deficits even faster than GWB did. One has to wonder when, or if t...