American Economic - Masthead Fighting For American Companies - Fighting for American Jobs United States Business and Industry Council
Current Trade Deficit:    
Jobs data good for both campaigns
Friday, November 02, 2012
Another perspective came from Alan Tonelson, a research fellow at the U.S. Business and Industrial Council. "This was a very puzzling jobs report," he told us. "There was a break in two important trends. The first break was in the subsidized [by government] private sector, especially health care services. It has been a major driver of private sector growth, accounting for 35 percent of jobs creation since the beginning of the recovery. But in October, it added very little, only 14 percent of the jobs creation."

He pointed out, however, that the number could be an anomaly that could be revised in the future as a "one-time glitch."

The other trend reversal, Mr. Tonelson said, was that government employment at all levels "dipped last month after growing in August and September."

Click here to read the article...