Making the forecast for federal employment even darker is the fact that the government is outsourcing work to the private sector. There are roughly 10 million private contractors currently under contract with the federal government doing work that could be done by federal employees if they were able to hire more people. Ten million is more than five times the number of actual federal employees.

The news for college graduates is even more unwelcoming: The government expects to fill 10% fewer posts this year than last and one-third of government employers expect to cut plans to hire recent college graduates.

Perhaps it's time to go back to the private sector. Sure they cut some benefits, tagged some additional hours on to your work week, and pushed more healthcare costs back to you. But hey, at least they're still hiring.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

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