Friday’s unemployment report was surprisingly good, with big job gains seen in April, and positive revisions to prior months.
But there’s one area where the job situation still stinks, and that’s at the government level…
More specifically, the local government level.
As you can see, employment continues to be the exact opposite of a “V”.
The good news, if there is any? It’s obvious that localities have the will to cut workers, and not push themselves up to the point of default.