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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on July 01, 2009, 06:15:18 AM
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US private sector sheds 473,000 jobs in June
Wed Jul 1, 2009 8:39am EDT Email | Print | Share| Reprints | Single Page[-] Text NEW YORK, July 1 (Reuters) - U.S. private employers cut 473,000 jobs in June, more than expected but down from the 485,000 jobs lost in May, a report by a private employment service said on Wednesday.
The median of forecasts from 25 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for 393,000 private-sector jobs lost in June.
Though June's job loss was the smallest since October 2008, the surprisingly large number of cuts deals a setback to those expecting the U.S. economy to recover soon.
"The data surprises me a little bit in that the consensus out there seems to be that business is improving and that the economy has hit bottom," said Mark Bonhard, investment advisor at Dawson Wealth Management in Cleveland, Ohio.
"This definitely is not good news."
After the report, U.S. stock index futures pared their gains. U.S. Treasury debt prices initially recovered some ground but were then hit by renewed selling. The U.S. dollar pared its losses versus the euro.
The May figure was revised from an originally reported loss of 532,000 jobs.
The ADP data comes ahead of Thursday's monthly nonfarm payrolls report from the government, which is much more comprehensive and includes both the public and private sectors.
Economists expect the payrolls report, which will be issued a day early due to the Independence Day holiday on Friday, to show a loss of 363,000 jobs in June and a rise in the unemployment rate to 9.6 percent from May's 9.4 percent.
ADP follows another privately released report showing planned layoffs at U.S. firms fell for a fifth consecutive month in June, hitting the lowest since March 2008 and providing a hopeful sign as the U.S. economy struggles to end its worst recession in decades. [ID:nNYS005195]
(Reporting by Burton Frierson, Editing by Chizu Nomiyama)
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How is that Stimulus working out????
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Oh what...come on Obamabots tell us how great he is......these are facts, these aren't feelings, or hopes or shiny words. These are facts....He's failing rapidly. And on top of that, he sided with Hugo Chavez and Castro against the democratic process in another country. He didn't want to comment or "meddle" in Iran as they killed their own people but Honduras getting rid of a Left-wing shitbag..oh wait a minute. Good job barry.
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Oh what...come on Obamabots tell us how great he is......these are facts, these aren't feelings, or hopes or shiny words. These are facts....He's failing rapidly. And on top of that, he sided with Hugo Chavez and Castro against the democratic process in another country. He didn't want to comment or "meddle" in Iran as they killed their own people but Honduras getting rid of a Left-wing shitbag..oh wait a minute. Good job barry.
"private employers cut 473,000 jobs in June, more than expected but down from the 485,000 jobs lost in May, a report by a private employment service said on Wednesday."
NOTICE HOW MAY'S NUMBERS REVISED UPWARDS BY ALMOST 100,000 JOBS LOST??????
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Facts.....nice hope and change. Everytime Barry pushes one of his BS social programs on TV now, he tries to say it will create jobs. He sounds like an idiot. New lightbulb standards....jobs. Sorry u idiot but if u put small bulb companies out of business with this crap, people loose jobs. All that will be left is giants like Philips. He has zero clue....this guy sucked as a community organizer, nows his president.
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Facts.....nice hope and change. Everytime Barry pushes one of his BS social programs on TV now, he tries to say it will create jobs. He sounds like an idiot. New lightbulb standards....jobs. Sorry u idiot but if u put small bulb companies out of business with this crap, people loose jobs. All that will be left is giants like Philips. He has zero clue....this guy sucked as a community organizer, nows his president.
Notice how these stories always are slim on comments from the usual gang.
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Oh come on haven't you heard? All these green job projects are going to create as many as 8000 jobs!
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Oh come on haven't you heard? All these green job projects are going to create as many as 8000 jobs!
And lose 2 million jobs.
This entire govt and admn are going to make Carter look like Lincoln.
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Its getting better,the stimulous is working.
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I remember the first time I heard how radical Obama's views were. I think it was either the first or second Dem primary debate. People had already been gushing over him- calling him the next JFK. Then I heard him, and I put my mouth on my hand and said "OH MY GOSH!!! OH MY GOSH!!! People think this guy is the next JFK and he is going to be a disaster in the White House!!!" I felt that the exhiliration of watching the transition from outright gushing to outright ridicule would be fascinating to watch. So I was actually kinda giddy over him winning the presidency in a sick sort of way. Well, he has been even more of a disaster than I could have foreseen. I could not have foreseen that he would have spent $800 billion on wasteful projects AFTER we injected $700 billion into financial institutions. I hope we have a lot less people voting in 2012.
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I remember the first time I heard how radical Obama's views were. I think it was either the first or second Dem primary debate. People had already been gushing over him- calling him the next JFK. Then I heard him, and I put my mouth on my hand and said "OH MY GOSH!!! OH MY GOSH!!! People think this guy is the next JFK and he is going to be a disaster in the White House!!!" I felt that the exhiliration of watching the transition from outright gushing to outright ridicule would be fascinating to watch. So I was actually kinda giddy over him winning the presidency in a sick sort of way. Well, he has been even more of a disaster than I could have foreseen. I could not have foreseen that he would have spent $800 billion on wasteful projects AFTER we injected $700 billion into financial institutions. I hope we have a lot less people voting in 2012.
The same drones will be out in force in 2012.