A DSD Highlight….
from the Hamilton Project Papers study just release on the Economy and the loss of Public Service jobs…
If the economy adds about 208,000 jobs per month, which was the average monthly rate for the best year of job creation in the 2000s, then it will take until June 2020 – or eight years – to close the jobs gap. Given a more optimistic rate of 321,000 jobs per month, which was the average monthly rate of the best year of job creation in the 1990s, the economy will reach pre-recession employment levels by September 2016 – not for another four years.
The private sector continues to be an engine for growth as the United States recovers from the Great Recession. However, tight budgets force a number of difficult decisions on policymakers (especially state and local ones), who are forced to lay off workers in order to meet their bottom lines. The result is that public-sector employment has been in sharp decline. This has worsened the current economic situation and the nation’s unemployment rate. These cuts – at least in the case of public school teachers – have also compromised our children’s future in ways that fail the even the strictest cost-benefit test. As state and local governments continue to face challenging budgets, a real risk is that they will be forced to make decisions that are both penny and pound foolish…..Share on Facebook