Scary. Seven of ten are government operations, and as
Economist notes, the three private companies are Walmart, McDonald's and Taiwan's Hon Hai Precision Industry Company, a subsidiary of which is Foxconn, a secretive electronics manufacturer.
(Via
EconomistMagazine)
It would be interesting to know the averages.
ReplyDeleteDoD employs 3.2 million Americans out of 305 million = about 1%
Walmart = .6%
McDonnalds = .5%
What are China's averages?
What a black hole of value destruction.
ReplyDeleteThere's a sense in which the information found in this cart is consistent with a healthy labor market. Particularly, as industrial organization becomes more horizontal over time, and as there are increased opportunities to add to the division of labor, you'd expect the least adaptive elements of the labor market to have the most employees over time. Since the economy is no longer characterized by few large firms (think of the 1950s) and many small ones (today), individual employers will employ less people while becoming more interdependent with other firms. So maybe the lack of private sector dominance in such a chart is (as Martha Stewart might say) a good thing...
ReplyDeleteIf you carry over the NHS % to the US that would be 6.9mil Govt workers if the US adopted the UK style healthcare.
ReplyDelete