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Taxpayers must pay the freight for over-budget train projects
Topic - Mark J. Perry
The biggest downsizing of state and local government in modern history has proved to be a big drag on the U.S. economy since 2009 and a primary reason the four-year-long recovery is more sluggish than other recoveries since World War II, economists say.
"The contraction of government jobs starting in 2009 is the largest contraction in public-sector employment since the 1945-1947 period following World War II, when government jobs contracted by 770,000 jobs," he said.
"Perhaps the significant downsizing of government at the state and local level is a positive development for the future growth of the U.S. economy, and one benefit of the Great Recession," he said. "But we should also pay some attention to the fact that one of the reasons for the disappointing monthly employment reports is the persistent weakness in public-sector employment."