Fact Check: Are Numbers of Government Workers Shrinking?

Econintersect:  Charts of the Day at Business Insider produced a graphic today showing the shrinking Federal Employment and commenting:

Another myth debunked: Contrary to your belief that the Federal government is growing and growing in terms of its role in the government, it turns out that in one crucial respect, it’s actually shrinking.

As a share of all workers, Federal workers have been declining pretty steadily over the last several decades. That number has risen a little bit under Obama — due to some growth in the Federal workforce and the dramatic shrinking of the private workforce — but the ratio is still near the all-time rock bottom.