One Key Sector That's Still Shedding Jobs (Government)

[LuckyTheDog]

Maybe we've got ourselves a recovery after all.

The economy has now been adding jobs for 16 months in a row, with an acceleration in hiring that has surprised nearly every prognosticator. The latest jobs report shows that the economy added 243,000 jobs in January, with healthy gains in professional services, manufacturing, hospitality, and even construction. There's still a long way to go before the economy is truly healthy, but each small gain helps repair the damage caused by a crushing recession.

One sector, however, continues to shed jobs, a trend that could impact not just the economy but the November elections as well. Government, which accounts for about 17 percent of the nation's workforce, has lost about 60,000 jobs since 2009, with no sign that the gradual downdrift in employment will turn around any time soon.

A shrinking government sector can drag down overall economic activity, since government jobs tend to be stable, good-paying ones that generate a meaningful amount of consumer spending.

More: http://news.yahoo.com/one-key-sector-thats-still-shedding-jobs-181314915.html

[ProgressiveProfessor]

1. Latest defense cuts are adding to that draw down

IIRC the DoD is going to lose 10-15K civilians and even more uniformed troops