I'm here to frame this report into the larger picture, in four points:
- Since January 2010, there have been 8 months with worse employment creation data.
- The number is about half that of ADP's March 2013 Employment Report of private employment: 158,000. This gives most people the sense that the BLS number will be revised upward.
- We might or might not be seeing the effects of sequestration, but the fact remains, we've been on a long downward trend of federal employment -- seasonally adjusted -- for the last several years, excluding the one-time bump of temporary Census workers. Its percentage of total non-farm employment has also shrunk, faster than at any time in the last 13 years.
- The total non-farm job growth rate is remarkably similar to that of the mid-2000s.
No comments:
Post a Comment