Goods Producing vs. Government

Posted on Wednesday, January 6, 2010

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Tim from The Mess that Greenspan Made blog (great blog by the way) showed a rather astounding chart showing that for the first time (ever?) the number of individuals employed by the government is larger than the number employed within the manufacturing sector.

Interesting is that we are not making more (on a relative basis) with less. As EconomPic noted back in the Fall that the 'value add' by the government to GDP was higher than the manufacturing sector.

However, in this instance, this is not a story about "bigger government". Rather, it is a story of a long in the making shift from manufacturing to servicing (as anyone who has lived or visited an old manufacturing city [think Detroit or Cleveland] can testify).

For all the hype, the number of individuals employed by the government is actually smaller as a percent of the civilian institutional population than it was in the mid-1970's (9% vs. 10%).

Source: BLS

Jake 06 Jan, 2010

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Source: http://econompicdata.blogspot.com/2010/01/goods-producing-vs-government.html
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