Last Friday's Labor Department jobs report indicated that US businesses have finally regained the 8.8 million jobs than were lost in the Great Recession of 2007 to 2009. In the past six years, the economy added 8.9 million positions to its labor rosters.

However, most of those jobs were in private-sector businesses. Dampening the recovery, government employment has shrunk to a low equal to 2005 levels. This may be good news for smaller government, but it's bad news for growth.

The other interesting angle to the public/private employment story is the fact that temporary jobs are skyrocketing increasing at a rate of 42% versus overall private jobs that grew at 8%. Typically, he growth of temporary jobs is a preview to full-time employment growth, but that hasn't held true in this recovery.