Share this Post on Twitter

Friday, August 5, 2011

Private / Public Employment "Drawdown"

Bloomberg details:

Private hiring, which excludes government agencies, climbed 154,000 last month after an 80,000 gain. It was projected to rise by 113,000, the survey showed.
Government payrolls decreased by 37,000 in July, the ninth straight drop. Employment at state governments fell 23,000 last month, almost entirely due to a partial shutdown of the Minnesota government.
The below chart outlines the bifurcation seen recently between the private and public sectors (per the nonfarm payroll survey). The chart shows that while the private sector is rebounding from an extreme "drawdown", the public sector is likely to continue its more recent decline on austerity measure being pushed through.



Source: BLS