The Unemployment Rate Is Less Relevant Than Ever | Economic Policy Institute

The Unemployment Rate Is Less Relevant Than Ever | Economic Policy Institute:

 "After hitting its low of the downturn in July, the public sector added 17,000 jobs in August. This is an important step in the right direction—job losses in the public sector have been an enormous drain on the recovery. However, it’s useful to keep in mind just how big a public-sector jobs hole we are in. Since the recovery began in June 2009, the public sector has lost roughly three-quarters of a million (754,000) jobs. However, public-sector employment should naturally grow as the population grows. To keep up with population growth over this period, public-sector employment should have increased by around 700,000. That means the total gap in public-sector employment today is 1.45 million jobs.1"