By Tory Brownyard, president, BrownyardGroup
The Great Recession has reconfigured many industries, includingthe public sector. Local governments are cutting back across theboard, including their police departments. A 2011 survey by theFraternal Order of Policeestimates that the U.S. lost between 12,000 and 15,000 swornofficer positions since the beginning of the recession; theInternational Association ofChiefs of Police estimates that 10,000 positions have beenlost.
While police forces shrink—and governments respond to tragedieslike December's elementary school shooting in Newtown, Ct.— thedemand for private security guards has grown. For example, inDetroit, some private security companies have seen an 80 percentincrease in business since the beginning of the recession. Thisstrong demand has further bolstered an industry that had beengrowing at a rate of between 7 percent and 12 percent per year forsome time.
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