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It appears that job cuts in the public sector affects jobs in the private sector.
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What’s holding back job growth in America? Hint: It’s not the private sector.
The end of October marked another month where the slow-growing U.S. economy failed to hire enough unemployed Americans to make a significant dent in the jobless rate, which remains stuck at 9 percent.
But the top line number – just 80,000 new jobs – masks what has now become the defining feature of the sluggish rebound from the Great Recession.
Another 24,000 layoffs among government workers partially offset the 104,000 new job opportunities created by U.S. businesses.
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