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Monday, March 09, 2009

 
EIA Dissects Unemployment Figures

Guess which sector is outperforming most others?

The economy lost more than 650,000 jobs in each of the last three months, with February's total job loss totaling 651,000.

As usual, the aggregate data disguise meaningful facts. Last month, the private sector actually lost 660,000 jobs, while government added 9,000 jobs...Of the 9,000 jobs added by government, the federal government added zero, state governments lost 3,000, and local governments added 12,000.

The Labor Department [see link in previous paragraph] helpfully disaggregates these numbers yet again, and your eyes really start to open.

State governments added 2,500 education positions in February, and local governments – where most education hiring takes place – added 13,400 positions. This means police, firefighters, sanitation workers, et al., suffered an aggregate net loss in jobs, while education employees enjoyed new job opportunities unmatched by any other sector of the economy, public or private, save for health care.




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