Via The Atlantic:
“It’s very clear that private sector jobs have been doing just fine, it’s the public sector jobs where we’ve lost huge numbers, and that’s what this legislation is all about.” –Senate Majority Leader Harry Reid, pressing a jobs bill for teachers and first responders.
It’s true that the private sector, which shed jobs more quickly than the public sector early in the recession, has been slowly but steadily adding jobs while the public sector is finally starting to “catch up” to reality and trim fat. A couple of charts on public versus private unemployment and employer costs through February of last year:
The public sector was for two years shielded for the worst of the recession by policy — stimulus that overwhelmingly helped government employees. But it was always going to be the case that once these federal cash infusions stopped, state and local governments were going to need to face economic reality.