The public sector is a very important concept to learn the meaning of, as it is used all of the time in public discourse. A lot of people mistake it for meaning purely government employment, but, more accurately, it represents the total part of the economy that is dependent upon government spending. This is an important distinction to make, as a lot of the spending that the government makes is made to private businesses, and without taking a view of how government spends it
This is an important distinction to make, as a lot of the spending that the government makes is made to private businesses. Without taking a view towards the totality of government spending, you won’t get a true representation of how much of our economy is dependent upon government spending and investment.
Another important thing to consider is that looking at where the public sector is spending its money can give somebody on the market for a job a good idea of where to apply for work. Almost always, the public sector offers much higher job security than virtually any other employment opportunity, which means that the value of a public sector jobs is very high for those interested in a long-term career.