Trying To Stop The Bleeding

Michael Mandel looks at the dismal jobs numbers and suggests the government put more money into education and health care, two bright spots on the employment front:

I can easily imagine health, education, and government employment rising to 35% or more of the labor market before this downturn is over. Under the circumstances, that’s not a bad thing. It does set the stage for a mammoth fiscal crisis 5 or 10 years in the futurebut for now, we need all the jobs we can get.

Leonhardt digs into the numbers some more.