Government & quasi-government jobs (32% of total) are growing at 1.8%.
"Private" sector jobs (68% of total) are growing at 0.3%.
This split is textbook late-cycle labor dynamics.
Government & quasi-government jobs (32% of total) are growing at 1.8%.
"Private" sector jobs (68% of total) are growing at 0.3%.
This split is textbook late-cycle labor dynamics.
What is different this cycle is the length of time private jobs growth has held below 1% (25 straight months).
Unusual outside of recessionary periods.