EJ Antoni noted a year ago (Sept 6, 2024):
gov’t and the gov’t-dominated healthcare sector [employment growth].. it’s all tax-payer funded, and it’s not at all sustainable
I plot EJ Antoni’s definition of “sustainable” employment:
Figure 1: Change in EJ Antoni “Sustainable” Employment (bold black line), health and social services employment (tan bar), government (blue bar), and NFP ex-health and social services and government employment (green bar), 000’s, s.a. All statistics are based on preliminary benchmark revision. Assumes total downward revision in private education and health is equal to downward revision to health and social services. Source: BLS via FRED, BLS, and author’s calculations.