June Jobs Report: This Silver Lining Has a Cloud

July 2, 2014

Every indication is that the Bureau of Labor Statistics report for the June labor market will show very large positive gains in the private sector.  We have already surpassed the previous highs of non-farm employment and private-sector employment set in 2008.  But this silver lining has a cloud.  We remain lagging in public-sector employment.  Most importantly, local education employment still is below its level in June 2009. Though it fluctuates slightly month to month, it remains stuck near the same level as in 2012, about 320,000 below its peak.  While other local government jobs appear to have recovered, local public education has not.  State government employment also remains lower than its January 2009 high, wallowing about 140,000 below its peak level.

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