"Zero Private-Sector Jobs Created In Past 11 Years
By Jed Graham
I"t’s been pretty widely discussed that the past decade was a lost one for job creation. But focusing on private payrolls alone would also wipe out nearly all of the employment gains from 1999, among the better years on record.
Next Friday’s employment report comes with an annual benchmark revision that the Bureau of Labor Statistics estimated would erase 855,000 private jobs (and add 31,000 government jobs).
Subtract that from the seasonally adjusted December payroll number of 108.44 million and that would leave just 107.59 million private payroll jobs. That’s the least since January 1999, when there were 107.40 million. ..........."