Public Sector Job Cuts Will Keep Unemployment High--JP Morgan

JP Morgan has a very helpful chart which shows the pace of hiring among state and local governments. You can see that for the first time in the last 60 years, the public sector is shedding jobs, putting pressure on the unemployment rate and the labor market. Expect more of this to continue as state and local governments work to solve massive budget deficits. This dynamic should keep unemployment high because of the large contribution the public sector makes to the jobs market. Just the excuse the Fed needs to keep printing money to "save the economy."

click chart for larger image

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Words of Wisdom from Leonardo da Vinci

1. I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do.

2.Simplicity is the ultimate sophistication.

3.Life well spent is long.

4.Life is pretty simple: You do some stuff. Most fails. Some works. You do more of what works. If it works big, others quickly copy it. Then you do something else. The trick is the doing something else.

5. Marriage is like putting your hand into a bag of snakes in the hope of pulling out an eel.

Public Sector Job Cuts Will Keep Unemployment High--JP Morgan

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