The Vanishing Private Sector Job Market

June 24, 2009 Tom Lindmark

These may well be the most depressing set of graphs that I have seen in a long time. They’re from Michael Mandel of Business Week.

The first chart shows the historical growth in private sector jobs:

Now look at job growth in the private and public sector over the past 10 years.

Mandel takes it one step further. He looks at private sector jobs that are heavily dependent upon government expenditures versus those that are not.

Essentially net job growth only occurred in health and education and government related jobs, all dependent upon heavy government subsidies.

What Mandel is describing in his charts is an economy in terminal decline.

About Tom Lindmark 401 Articles

I’m not sure that credentials mean much when it comes to writing about things but people seem to want to see them, so briefly here are mine. I have an undergraduate degree in economics from an undistinguished Midwestern university and masters in international business from an equally undistinguished Southwestern University. I spent a number of years working for large banks lending to lots of different industries. For the past few years, I’ve been engaged in real estate finance – primarily for commercial projects. Like a lot of other finance guys, I’m looking for a job at this point in time.

Given all of that, I suggest that you take what I write with the appropriate grain of salt. I try and figure out what’s behind the news but suspect that I’m often delusional. Nevertheless, I keep throwing things out there and occasionally it sticks. I do read the comments that readers leave and to the extent I can reply to them. I also reply to all emails so feel free to contact me if you want to discuss something at more length. Oh, I also have a very thick skin, so if you disagree feel free to say so.

Enjoy what I write and let me know when I’m off base – I probably won’t agree with you but don’t be shy.

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The Vanishing Private Sector Job Market

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