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Government jobs at record level vs goods producing, not.

May 16, 2010

Graph of the Day for May 16, 2010

Randall Hoven

“I’m not interested in another debate about big government versus small government. I care about whether government is meeting its responsibilities to the people it represents. And I want to unleash the great power of our economy, so Americans who are looking for work can find it. And I’m hopeful that our small business agenda doesn’t fall victim to the same partisanship that we’ve seen over the last year. Helping businesses to create jobs should be something that both parties can agree to.”  President Obama.

“Many of the jobs lost during the recession are not coming back.  Period.”  Catherine Rampell, The New York Times.

Data source:  St. Louis Fed/FRED, USGOVT and USGOOD series.

Hoven’s Index for May 16, 2010
Year with most government jobs:  2009
Year with most total non-farm jobs:  2007
Year with most goods producing jobs:  1979
Most recent year with as few goods-producing jobs as 2010:  1950
Percentage of all non-farm jobs that are government jobs in 2010:  17.3%
Percentage that is durable goods manufacturing, construction, or natural resources and mining:  10.3%
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