Yesterday’s weak jobs report showed that the public sector is not yet done cutting jobs.
It wasn’t dramatic, and the pace of the cutting is now WAY slower than it had been, but just a couple months ago, the public sector was actually adding jobs, so if you thought the shedding had reversed itself, it hasn’t yet.
Granted, it’s private sector jobs that people are most eager to see, but since the health of state and local governments is expected to be a huge story in 2011 and beyond this is pretty critical to watch.
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