Severe, Life-Changing, And Consciousness-Altering State Budget Cuts Still Coming
Mike “Mish” Shedlock, Global Economic Trend Analysis
Oct. 21, 2010
My friend “BC” pinged me with some interesting employment stats regarding the state of Oregon that apply in varying degrees to every state in the union, and arguably most countries in the world.
“BC” Writes ….
OR total payroll employment has not grown in 11 years, which is not unlike most of the rest of the US.
However, adjusting for OR population growth, payroll employment is back to the level of the early ’90s.
But it’s worse than that. Private payrolls are back to the level of ’97, and adjusting for population there are fewer private payroll jobs per capita than the late ’80s to early ’90s.
And gov’t payrolls over the past two decades have grown at twice the population/labor force growth rate.
Total OR employment is back to the levels of ’04-’05 and ’99-’00; however, adjusted for population/labor force growth, employment is down 10% from ’00 and down 3.1% from ’90.