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15 Comments

  1. CA renter
    August 2, 2010 @ 1:57 AM

    The graph which breaks down
    The graph which breaks down employment by sector probably answers your question in your previous post about why jobs decline in the summer. It looks like govt jobs decline pretty regularly, based on your chart, and I’d guess that would be related to schools.

    I’ve been saying this for awhile, but think another severe leg down is coming which will be led by major cuts in public spending (including all govt outlays: govt employees, private sector contractors working for the govt, businesses that provide goods/services to the govt, business that rely on tax credits or public grants, and all that stimulus spending that will likely come to an end.). People have a tendency to underestimate the beneficial effects of government spending. It affects almost everyone directly or indirectly.

  2. savingforahouse
    August 2, 2010 @ 4:44 AM

    great article rich-
    In a sort

    great article rich-

    In a sort of tongue and cheek way, one could argue that the data presented supports the non-monetarists, non-quantitative easing discussions. Massive credit did not produce long-term permanent jobs, just a small (10 year) boost that is now gone. Just like the 787 billion since the bailout. Unfortunately, the people that were the beneficiaries of the boost (construction, professional service) are now going to be looking for work that can’t comeback over meaningful time periods for families.

    In a relatively no growth world, it is gonna be hard to be an average joe.

  3. moneymaker
    August 2, 2010 @ 8:49 PM

    I think it’s going to be hard
    I think it’s going to be hard for everyone but the super rich in the foreseeable future. That’s why I’m always baffled when the market appears to be going up, like it did today. I did my part and bought a brand new motorcycle this last week. American design right here in Cali, but built by Yamaha.

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