Why are GDP and jobs defying slowdown predictions? Because most new jobs, 56% are disguised government spending.

The rise of the “Welfare Industrial Complex” Why are GDP and jobs defying slowdown predictions? Because most new jobs — 56% — are disguised government spending. In states like Illinois and New York, they make up between 113% and 121% of new jobs. In other words, the rest of the economy is actually shrinking. Only the the government is growing.

The rise of the “Welfare Industrial Complex”

Why are GDP and jobs defying slowdown predictions? Because most new jobs — 56% — are disguised government spending.

In states like Illinois and New York, they make up between 113% and 121% of new jobs.

In other words, the rest of… pic.twitter.com/8NlllM0xTt

— Peter St Onge, Ph.D. (@profstonge) January 2, 2024

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