Re-directed development startegies and reversed macroeconomic economic policies of Sri Lanka in the past few years have created a 'feeling-good' economic spurt, but undermined long-term, sustainable job creation. Increasing number of people are nailed down to unproductive domestic agriculture sector, which has created 118000 new jobs compared to the loss of 217,000 jobs in the industry and service sectors by the 2nd quarter of 2009. During 2006-2008, over 75% of new jobs were created in the public sector. The government has been undertaking many things that the private sector can perform so that the private sector expansion appears to be slowing down in the context of a gloomy business environment. The end of the conflict has brought about a rare opportunity for Sri Lanka to end its deep-rooted fundamental weaknesses in development strategy and economic policy. However, I am not sure whether Sri Lanka is going to 'miss the bus' this time too.