Blackvegetable » 19 Aug 2026, 8:10 am » wrote: ↑ The best way to resolve this would be - no surprise here - to examine the data.
We could look at the ratio of Private Sector Payroll gains to Federal Employee growth.
This will require you to do some Arithmetic.
https://fred.stlouisfed.org/series/USPRIV
https://fred.stlouisfed.org/series/CES9091000001
Ready?