Posted on 03/04/2009 8:09:41 AM PST by NormsRevenge
NEW YORK (Reuters) – U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services that suggests hefty employment declines are on the way in the government's payrolls report due on Friday.
ADP said on Wednesday that private employers cut 697,000 jobs in February versus a revised 614,000 jobs lost in January. The January job cuts were originally reported at 522,000.
It was the biggest job loss since the report's launch in 2001 and showed the misery of declining employment spreading broadly and evenly throughout the economy.
The service sector, which often resists the grip of recession longer than other areas, accounted for more than half of the total losses, reflecting the rapid deterioration of the economy in recent months.
"None really escaped the sword here," Joel Prakken, chairman of Macroeconomic Advisers, whose firm jointly developed the ADP report, said about the service sector.
(Excerpt) Read more at news.yahoo.com ...
an
Bamster’s fault.
What’s the Statute of Limitations on blaming Bush?
Who the hell would hire in this market? I think we need more populist posturing and class warfare. That should turn things around!
I’d love it if my crappy job tried to unionize and started protesting and stuff. I’d be the biggest scab ever.
“Sure I’ll work without joining the union movement but I’ll need sixteen bucks an hour to cover threats against my person.”
I'd say from the moment Obama signed Porkus. So the market tanking, continued job losses... These are all squarely on Obamas unprepared shoulders. He is a babe in the woods when it comes to business - he's never been around one or in one or led one. All his subsequent whining about the situation he "inherited" is just so much useless hot-air. He has made the recession worse, trashed the economy like no other President in history, and continues record setting deficit spending to support his socialist agenda. He is shaping up to be the worst President in our history.
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