The United States economy has finally exceeded its pre-recession employment peak, as many analysts of today’s jobs report have noted. But that milestone obscures two very different stories — in the private and public sectors. The public sector — federal, state and local government — still isn’t close to returning to its pre-recession employment levels.

Private-sector employment first exceeded its pre-recession jobs peak a few months ago, in March. Last month, the (nonfarm) private sector included 0.5 percent more jobs than in December 2007, when the recession began. The public sector remains well below its employment peak.