If the Private Sector Is Hiring (620,000 Jobs This Year), Why Is the Jobs Market So Bad? Here's Why:

[David Zephyr]

"One of the biggest obstacles to job growth may actually surprise most Americans: as fast as the private sector is creating jobs, the government is shedding them. And the cuts are far from over." This is from an article today at CNBNC that goes against the conventional wisdom and is illuminating as to where jobs are being created and where they are being cut.

The article goes on to say:

"Despite all the gloom and doom about the US economy, the private sector actually created 620,000 jobs over the past seven months, far faster than in the previous two recessions. The private sector is adding jobs now—that's good--because a year ago we were sliding toward oblivion,' says Heidi Shierholz, an economist at the Economic Policy Institute. The problem, economists say, is that the pace of hiring in the private sector can't keep up with all the layoffs by cash-strapped federal and local governments." Link to the full story here: http://www.cnbc.com/id/38682261

Now, for those in the GOP/Teabagging Asylum who are screaming about cutting back the size of government to expand the private sector, one can only say that this is precisely what is already happening right now. Those are the facts.

Government is shrinking in size under Obama and the Private Sector has begun to grow after nearly collapsing under George W. Bush and the Republican Party.

Do me a favor: pass this inconvenient truth around.

[Guy Whitey Corngood]

1. It's like a Doucher Norquist wet dream. nt

[TheKentuckian]

2. Because we're down many million, at least eight and the jobs created aren't enough to cover

population growth.

None of this even thinks about the long term stagnation now turned hellish wage destruction and the damage that is doing to buying power and standards of living.

Until, we consistently create at least 150,000 jobs a month we are not even actually treading water. The rate would be much higher if people without work for the long term weren't thrown out. I suspect this is why there is little fire in the belly to help the 99ers, they don't want them pushing the unemployment rate.

[ncteechur]

3. 620,000 is nothing compared to the number they laid off, fired, outsourced

[high density]

4. True, but it's better than another 620,000 losses. NM

[David Zephyr]

5. 18 months ago the nation was shedding 700,000 jobs per month.

While 620,000 new jobs in the private sector is not enough, the overall trend is in the right way. From losing millions of jobs because of the past administration to actually creating 3/4 million jobs this year is a big step in the right direction.

While President Obama should have spent his first year in office focusing on job creation rather than healthcare (as I posted here consistently last year) and critized him accordingly, I still recognize progress when it is made whether it suits my predisposition or not.

The country is better off than it was 18 months ago. This nation almost slid into a complete financial meltdown, the likes of which few understand or want to.

[paulk]

11. it's not a "big step" in the right direction

it's a tiny little small step that, I think, is being interpreted by too many as enough.

There is no guarantee that even this small recovery will last or that the stimulus will avert another plunge into a Bush era collapse.

Obama needs to be championing an all out Federal effort to create jobs - a new WPA/CCC, whatever - even if the Republicans block it (and they will) at least he will be on record as recognizing the number one problem our country faces...

[David Zephyr]

12. I agree with you in what Obama should be doing.

He'd promised to put solar panels on every federal building in the U.S. It still hasn't happened. Still, the bikini job curve is real and there has been a change in the job market for the better. What is difficult, and understandably, not attractive to point out is just how deep of a hole we were in and, even worse, how deep we were heading. I own two businesses. What happened at the end of 2008 was catastrophic and we dodged a very, very bad bullet.

[progressoid]

6. "Government is shrinking in size under Obama"

Do you have some documentation for that?

Thnx.

[Safetykitten]

8. Really, I would like to see the facts on that also.

[David Zephyr]

10. Read the article linked.

.

[girl gone mad]

7. The growth has been pretty anemic.

The trend has moved from +224,000 in April to just +71,000 in July (not nearly enough to keep up with population growth), and unfortunately, it looks like businesses are about to resume net shedding jobs as soon as this month.

[ItNerd4life]

9. How can government be shrinking? It's got to grow to handle all the new workload.

I find it difficult to believe the number of government workers is shrinking. It would have to grow to handle all the new programs and dollars.
If it isn't growing, then corruption is running rampant because there aren't enough people to do the job right with all the new programs and dollars.