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More evidence that austerity doesn’t work

The latest issue of the NC Budget and Tax Center’s Prosperity Watch [1] is out and it provides additional confirmation that government austerity ain’t what is needed to get the economy going.

“Recent trends in the national labor market demonstrate the harm inflicted on the economy by cutting government spending and laying off government employees in the middle of an already challenging economic recovery.  Just as with private sector layoffs, government layoffs increase the number of people out of work.  And given that there are already nearly three times the number of people looking for work than there are job openings [2], these public sector layoffs only serve to increase overall unemployment.”

Read the entire story by clicking here [1].