Government Employment and the Great Recession
Via The Atlantic: Our Historic Austerity—in 1 Crazy Chart
As Ben Bernanke put it, "people don’t appreciate how tight fiscal policy has been." And how much that’s knee-capped the economy. Take jobs. Bernanke points out that total public sector employment—local, state, and federal—has fallen by over 600,000 during the recovery alone. As point of comparison, it rose by 400,000 during the previous one.
Regardless of one’s position on stimulus, or of public sector employment in general, one cannot ignore these numbers when assessing the way the recovery has gone. First, there is the raw number itself and, second, there is historical comparison.