The Homa Files

Easy question since you know I wouldn’t ask if the answer wasn’t government.

Answer: There are about 22 million government workers … only about 18.5 million in producing goods.

The below charts are quite revealing.

• Now, almost 75% are employed in service-providing industries … up about 10 million since 2000 … virtually all of the jobs added from the recession’s trough.
• Goods-producing declined about 7 million from 2000 to the recent recession (i.e. Bush’s watch) … about 500,000 have been restored since the recession’s trough.
• Gov’t added about 2 million (about 10%) from 2000 to 2010 … about 500,000 – largely temp census workers — have been squeezed out in the past couple of years.

Bottom line: An economy dominated by services and gov’t … not new news, but the severity of the skew surprised me… and, it’s hard to hang all this on Obama – Bush’s fingerprints are all over the trends.

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This entry was posted on October 15, 2012 at 6:45 am and is filed under Employment - Jobs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.