Profit-Eating Government Jobs Top Goods-Producing Jobs For 1st Time in US History
There are now more people working in governement than in goods-producing jobs.
For the first time in history there are now more profit-eating government jobs than goods-producing jobs in the United States.
In the just-so story of the evolution of our economy, our old manufacturing based economy has been replaced by an innovative knowledge economy. That’s not quite true.
In fact, the decline of the jobs in goods producing sectors of the economy–construction, manufacturing, mining and agriculture–has largely been met with an increase in jobs on the government payroll. We’ve gone from providing jobs in profit-making private industry to providing jobs in profit-eating government work. Toward the end of 2007, the total number of government jobs exceeded the total number of goods producing jobs. Welcome to the government payroll economy.
The average government worker enjoys a $71,000 per year annual salary compared to the average individual working in the private sector who makes just $40,000 per year.