🚨CHART OF THE WEEK: US government jobs hit a new record in September

Government jobs spiked 785,000 in September posting the second-largest monthly increase in history.

On Friday, the Bureau of Labor Statistics released monthly jobs report for September.

According to the release, the US economy created 785,000 new government jobs last month, the second-largest increase on record. Overall, government jobs accounted for an 85% increase in monthly payrolls. Therefore, private jobs reflected only 15% of the total jobs surge.

As a result, the number of government workers hit a new all-time high of 22.2 million.

Even more staggering is the fact that without government jobs, the unemployment rate would have been 4.5% instead of the reported 4.1%.

I will just leave it without any additional comment. To read the most recent analysis of the US job market click on the below article link.

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