DAVID LEONHARDT
Thoughts on the economic scene.
As weak as the economy has been in recent months, the private sector has still been adding jobs at a faster rate than the adult population has been growing. Over the last 12 months, the private-sector employment has grown by 1.7 percent, while the adult population has grown about 1 percent, according to Haver, a research firm, and the Bureau of Labor Statistics:
Source: Bureau of Labor Statistics, via Haver AnalyticsAnnual private-sector job growth (blue) vs. population growth (red).
Yet the percentage of adults with jobs has been falling:
Bureau of Labor Statistics, via Haver Analytics
How could this be? Because the government — especially state and local government — is cutting jobs:
Source: Bureau of Labor Statistics, via Haver Analytics
Article source: http://feeds.nytimes.com/click.phdo?i=e8fd08bc651049d472bca67323c4b5e6
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