The Bureau of Labor Statistics released a report this past week on regional and state employment and unemployment for June showing that non-farm payroll employment increased in 43 states. So what does the media focus on? The fact that another large employer scaled back its workforce (see examples here and here and here).
Why are jobs growing even though these large corporations are cutting their workforce? It is because job growth has been coming from entrepreneurs and they have been more than making up for any loss from the old economy. In fact, entrepreneurs have created over 77% of all new jobs over the past twenty years.
Previous
Next