US DoD world’s largest employer
A few days ago, The Economist named the US Department of Defense as the world’s largest employer, based on the number of personnel employed. Altogether, the DoD is now an employer to about 3.2 million workers who provide their service inside and outside of the States.
Where ratio is concerned, the DoD provides job to 1% of the total population in the US.
The usual suspects: Wal-Mart, McDonald’s and China National Petroleum also made it to the top 10 list.
With colossal ambitions, goals and security interest, the DoD is often backed with the largest amount of budgetary resources, far exceeding other government bodies. Some three years back, the annual budget was close to hit the US$800 billion mark, and the figure now certainly has excessively surpassed the amount. In fact, it was said that the new budget resources for 2010 (covering base and contingencies) amounted up to US$1.2 trillion.
The so-called war on terrorism, to date had cost an estimated US$5 trillion. Other than expenses, wars in which the US is involved had taken many lives of the US armies.
A more detailed observer would also realize that from the 10 largest employers list, more than half of them are from the government sector. They include the Chinese Army, UK’s National Health Services (NHS) and India’s national railway company. While many governments these days (US included) are being subject to harsh treatment and condemnation for allegedly failing to provide adequate jobs, the truth defies the popular opinion.
A lot has been said about how countries should not rely on the government’s jobs in providing employment but from here, seems some people certainly overestimated the ability of the private sector, which is often hailed as the savior for any country’s vibrant economy. Nevertheless, it is always good to keep in mind that the largest employers in the world may not churn out the best profits, as state-run companies do not work mainly based on financial goals.
Well, who would expect the world’s largest employer is this DoD?