Poor Public Payrolls

Non-farm private employment peaked at 115.5 million in 6/07 and is now 115.0 million, down half-a-percent and should hit a new high this May. By contrast, total public employment, which includes state, local and federal government employment, plateaued at 22.8 million and is now only 22.5 million, a difference of 1.56%, and probably won’t reach a new high until sometime in summer of 2016, more than two years from now!

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