Private Sector Lost Nearly 10 Million Jobs in Last 3 Years – Public Sector Gained 720,000
Power Line reported on the Obama jobs disaster earlier this week.
Graph courtesy of Veronique de Rugy at The Corner.
— Since the beginning of the recession (roughly January 2008), some 7.9 million jobs were lost in the private sector while 590,000 jobs were gained in the public one. And since the passage of the stimulus bill (February 2009), over 2.6 million private jobs were lost, but the government workforce grew by 400,000.
A new study found that the private sector lost over 10 million jobs between June of 2007 and March of 2010 while the public sector grew by 720,000 jobs.
The Free Enterprise Nation reported:
Between March 2000 and March 2010, the private sector LOST over 3 million jobs, while the public sector GAINED nearly 2 million. During this same time, the population of the United States grew by over 25 million.
In March 2000, the private sector was 109 million strong. After several years of slight gains and losses, the private sector began growing again in 2005, topping out at 116,603,000 in June of 2007. By March 2010, that number had dropped to 106,062,000 marking a 3-year, 10-million-job decimation of the private sector. The public sector saw no such variance, however, growing at a steady rate year after year, month after month, regardless of economic conditions. If you look at those same months, government employment went from 21 million in March of 2000 to 22 million in June of 2007. The disparity between the public and private sector becomes unavoidably apparent at this point. While the private sector was losing over 10 million jobs between June of 2007 and March of 2010, the public sector grew by 720,000.
A total of 32 states lost private sector jobs during this 10-year period, while only four showed a loss of public sector jobs. In fact, only one state, Hawaii, increased the number of private sector jobs while decreasing the number of government jobs.
Michigan lost the most private sector jobs, at 791,700, or a staggering 20%. Michigan cut government jobs during this time, but only 7%. California was next, with 665,800 jobs lost in the private sector. Of particular concern for Californians, there was an addition of 163,600 government jobs during that same 10-year period.
For the record…
Barack Obama is the worst president in history on job creation–
According to data from the U.S. Bureau of Labor Statistics, the U.S. shed 2.3 million jobs since February 2009, Obama’s first full month in office. Since Obama’s election in 2008, the US economy has shed 4.4 million jobs. That’s worse than Herbert Hoover.
(Misery Index data)