Kevin Spires, CFA, FRM
It is stories like this - "Tennessee Tax Revenues Soar above Estimates" (Hat tip to Glenn Reynolds at Instapundit.com) - that remind me that State & Local Government Tax Revenues have been growing at a moderate pace of 3-4% for the past year.
It is stories like this - "Tennessee Tax Revenues Soar above Estimates" (Hat tip to Glenn Reynolds at Instapundit.com) - that remind me that State & Local Government Tax Revenues have been growing at a moderate pace of 3-4% for the past year.
Revenue growth is followed by employment growth by 4-5 quarters and it is reasonable to expect that State & Local Government employment growth will resume in the next few quarters.
While the response of government employment to economic growth has been muted this cycle due to the buildup of excess employees during the Housing Bubble, the excesses appear to have been purged and continued economic growth will lead to an increase in government payrolls.
While the response of government employment to economic growth has been muted this cycle due to the buildup of excess employees during the Housing Bubble, the excesses appear to have been purged and continued economic growth will lead to an increase in government payrolls.
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