calculatedriskblog/2014/09/state-and-local-governments.html One of the big drags on an improving employment picture has been the reduction in public employment on the state and local level. In 2009, the ARRA transferred a lot of money to the states, which helped to forestall some of the layoffs that happened in 2010, 2011 and 2012, but it looks as though the public jobs layoffs (school teachers and first responders mostly) have bottomed out in 2013 and are on the rise again. If the re-hiring accelerates, we might get back to pre-recession levels by 2020. That would mean in increase of about half a million jobs - mostly pretty good paying jobs. As those jobs are added back into the mix the economic recovery should accelerate even more. In the private sector, we passed pre-recession levels around the end of the first quarter this calendar year, and, following Obamas first inauguration, there has been a net increase of jobs overall, based entirely on private sector hiring since the public sector was losing jobs overall, since this time in 2012.
Posted on: Tue, 02 Sep 2014 15:51:00 +0000
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