Was nearly 40% of ‘private-sector’ job growth in December subsidized by government?
Friday, January 04, 2013
The U.S. economy created 168,000 private-sector jobs in December. But all private-sector jobs are not alike, of course. One way to examine them is by determining which are the mostly the result of market forces and which are the result of debt-fueled government subsidies
. Alan Tonelson of the U.S. Business and Industry Council:
This morning’s jobs report shows that the economy’s subsidized private sector (industries like health care services that receive big government subsidies) is back as a major source of new hiring. If a stronger but sustainable U.S. recovery depends on reinvigorating industries not heavily dependent on government largesse, then this hiring out-performance by the subsidized private sector is a bearish indicator.Click here to read the article...