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Thursday, November 3, 2011

Federal hiring proves to be recession-proof

Big government both the cause and solution to the US's economic imbalances. What a mess.

Headline: Federal hiring proves to be recession-proof

WASHINGTON — While Democrats and Republicans in Congress fight over President Barack Obama's new jobs bill, it's worth remembering that there already is one bipartisan job creation program the two parties have agreed on since the recession began: expanding the federal workforce.

While overall payroll employment in the United States has fallen by nearly five percent since the official start of the recession in December 2007, there are 12 percent more federal workers today than there were when the downturn started, according to the Bureau of Labor Statistics.

New jobs data will be released by the Bureau of Labor Statistics Friday morning. The consensus expectation among economists is that a total of 95,000 jobs will have been added to payrolls in October. That would still put the total non-farm payroll tally at about 6.5 million fewer jobs than when the recession began in December 2007.

But the federal headcount has been recession proof, growing while many private sector firms are shedding employees or just holding job levels steady.
Source: msnbc.msn.com

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