Private Sector Employment Stumbles, but Government Employment Shrinks

height=”144″ />The latest news from the Bureau of Labor Statistics is more of the same. Unemployment is still stubbornly high at 8.2 percent (one-tenth of a percentage point higher than April) and the U6 rate (underemployed, part-time and discouraged workers) stands at 14.8 percent (three-tenths of a point

higher than April). These numbers are an improvement over a year ago, when unemployment was 9 percent and U6 was 15.8 percent. But last month's numbers are still nothing to cheer about.

But as I combed thr

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ough the pages of the latest BLS News Release, I noticed something that peaked my interest: Table B-1, Employees on nonfarm payrolls by industry sector and selected industry detail, shows that since May of last year, the number of government employees has fallen 13 percent: 5 percent at the federal level, 5 percent at the state level and 3 percent at the local level. Only one other major category fell more: goods-producing, which includes mining and logging and construction.

Of course, there are still 2.2 million people on the federal civilian workforce. Perhaps

we need to take a tip from Cuba's playbook. Two years ago, the country eliminated over half a million government jobs after deciding 1 out of 5 jobs was redundant. Maybe the celebrities that tout the “benefits” of Cuba's health care system should instead be bragging about their employment cuts.

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Comments (2)

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  1. Joe Barnett says:

    There were a lot of temporary workers hired with government stimulus money. Plus, the military is cutting back, not only on uniformed servicemen, but also civilian workers.
    I wonder how many employees there were in 2007, and how gov’t employment has changed over the past five years.

  2. Aman says:

    Put into your 401(k) the minimum amnout necessary to collect the maximum firm contribution. That’s free money they’re giving you.Next, get a ROTH IRA and max it out every year. Tax free forever. That’s free money too.If you can do more, then go back to your 401(k) and max that out to the legal limit.If you can still do even more, then consider other options.Take advantage of all the free money you can.