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Dec 26

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Four years into the Great Recession, employment pictures shed light

The Great Recession officially began in December 2007.  Exactly four years later, most agree that employment remains bleak.   However, this general employment malaise is not felt as much in the government sector, particularly regarding federal government employment.  The following graphs/charts show historical employment trends among sectors.  In sum, the private sector undoubtedly faired worse than the government sector.  The federal government’s employment has done quite well.   Interestingly,  the government sector is merely 17% of the workforce (nonfarm employees); 83% is the private sector.  Additionally, the federal government is a mere fraction (13%) of the government sector.  Thus,  rational thought would tell us that practically all of the focus should be on private sector job creation over government job creation.

All of the graphs below are based on data provided by the U.S. Department of Labor.


 

 

 

 

 

 

 

 

About the author

Nicole Liska

I am a Principal at Fulcrum Inquiry, an accounting and economic consulting firm that performs damage analysis for commercial litigation, forensic accountings, financial investigations, and business valuations. I hold an ABD and MA in economics from the University of California, San Diego. I perform damages analyses and serve as a damages expert witness. My resume is on Fulcrum's website.

Permanent link to this article: http://betweenthenumbers.net/2011/12/four-years-after-the-beginning-of-the-great-recession-employment-pictures-shed-some-light/

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