Today’s jobs report showed that cuts at the state level are hammering U.S. workers, even if private sector jobs are growing.
But dig a bit deeper, and what the data shows is that many of the same people unemployed by the recession are still unemployed. Many have even stopped seeking work.
What that comes down to is structural changes in the U.S. economy, evidenced by the prolonged loss in construction sector jobs. Many of those jobs, associated with the housing and construction boom, are never coming back.