Jobs data from the BLS, chart by MishWelfare State Surge 2022 vs. 2023
Government employment and Social Assistance at the state level is surging. Much of it can be attributed to the surge in illegal immigration.A portion of healthcare jobs, perhaps a large portion, is demographics. Boomers are getting older. Medicare needs and assistance needs are rising for this reason as well.Change in Government and Social Assistance Jobs Jobs data from the BLS, chart by MishGovernment + Social Assistance and Health Is Over 100% of Job Creation in 3 States
December state level numbers are not available in the current jobs report, but through November, Government + Social Assistance and Health Is Over 100% of Job Creation in 3 StatesDoes anyone think this is sustainable? If so, for how long?Jobs Up 216,000 But Employment Down 683,000For discussion of the December jobs report please see Jobs Up 216,000 But Employment Down 683,000 Job Revisions -71,000The decline in full time employment in December was over 1.5 million. Debt Jumps Past $34 Trillion, $1 Trillion Interest, Another Budget Showdown LoomsFinally, please note Debt Jumps Past $34 Trillion, $1 Trillion Interest, Another Budget Showdown Looms
Lost in the wake of debt topping $34 trillion is another budget showdown. Will this showdown be like all the other Republican capitulations? And what about the chants of hyperinflation?
For discussion of the debt ceiling and what I expect will happen, please click on the preceding link.More By This Author:Jobs Up 216,000 But Employment Down 683,000 Job Revisions -71,000
Debt Jumps Past $34 Trillion, $1 Trillion Interest, Another Budget Showdown Looms
The Free Money Has Run Out And It Shows In The Polls