On This Week, George Will praised the increase of private sector jobs and the decrease of public ones.
“The 80,000 is a net number,” said Will. “The private sector created 104,000 jobs. The public sector happily shrank by 24,000 jobs. Both of that’s good.”
Public sector job loss, contrary to what conservatives say, is not good for the economy.
Madeline Schnapp, director of macroeconomic research at TrimTabs Investment Research in Sausalito, Calif., expects state and local governments to cut between 800,000 to one million jobs during the next fiscal year, which began on July 1 and ends on June 30, 2012. Local governments employ the vast majority of public sector workers. Of the approximate 22 million public sector workers, about 14 million are employed by local governments, according to the Labor Department.