Saturday, February 6, 2010
Honey, They Shrunk the Private Sector
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There’s a reason why Americans who don’t happen to work for the government or directly benefit from its largesse are not sensing an economic recovery. For them, it’s mostly not happening. ADP’s January employment report showing 22,000 private-sector jobs lost, the last available jobs-related information available when this column was written, only confirms that feeling.
A look at what has happened to the nation’s inflation-adjusted gross domestic product (GDP), the value of all goods and services produced in the economy, during the last six quarters is sadly instructive. Full Piece
