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Another steep drop in payrolls expected in April
Market Watch ^ | 05/03/09 | Rex Nutting

Posted on 05/03/2009 7:00:37 PM PDT by TigerLikesRooster

Another steep drop in payrolls expected in April

580,000 lost jobs would be the least bad in six months

By Rex Nutting, MarketWatch

Last update: 10:13 a.m. EDT May 3, 2009

WASHINGTON (MarketWatch) - U.S. workers lost jobs at a devastating rate again in April, but the expected loss of 580,000 would be least bad since October, economists said. Compared with what the economy has just seen, 580,000 lost jobs might look good. But in absolute terms, it'd be horrible. Aside from the current recession, it would be in percentage terms the eighth worst month for job losses in the past 50 years.

Meanwhile, according to economists surveyed by MarketWatch, the unemployment rate is expected to rise another half percentage point to a 26-year high of 9% with little end in sight.

The April employment report will be the highlight of a week that's relatively light for economic data. The jobs numbers will be released at 8:30 a.m. on Friday.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: 0bama; 0bamaisfailing; bho44; bhoeconomy; first100days; layoffs; obamasfault; payroll; unemployment
580,000 lost jobs would be the least bad in six months

Trying very hard to give it a positive spin. I guess Obama faithful are also under severe 'stress test.'

1 posted on 05/03/2009 7:00:37 PM PDT by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 05/03/2009 7:01:04 PM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

What the hell did these MSM fools expect with a radical socialist and pandering Congress? Economic boom??? Hardly.


3 posted on 05/03/2009 7:04:04 PM PDT by EagleUSA
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To: EagleUSA

A lot of people are waiting for their unicorns as promised by Dear Leader.


4 posted on 05/03/2009 7:06:07 PM PDT by max americana
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To: EagleUSA

I don’t care if they went down a little bit or not. These are on top of all the others, so these are AFTER all of the vulnerable people have been laid off and there are still more being piled on top of them. No way would an unbiased observer glean any hope out of this data.


5 posted on 05/03/2009 7:06:55 PM PDT by gthog61
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To: TigerLikesRooster

Just think of the tax revenue Uncle Sam is losing!!


6 posted on 05/03/2009 7:09:44 PM PDT by briarbey b (There is nothing new under the sun.)
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To: TigerLikesRooster

July is going to be very bad.


7 posted on 05/03/2009 7:10:56 PM PDT by eyedigress
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To: TigerLikesRooster

Just wait til all the layoffs from Chrysler suppliers hit in May, and then all the people laid off from jobs that are funded by those supplier workers (everything from restaurant workers to retailers to you-name-it) in June. I have faith in the free market but this will be rocky, and the government seems determined to foul it up as much as it can.


8 posted on 05/03/2009 7:17:19 PM PDT by Liberty1970 (Democrats are not in control. God is. And Thank God for that!)
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To: eyedigress
"July is going to be very bad."

For Obama, I hope the July 4th tea parties are very bad, indeed!

9 posted on 05/03/2009 7:18:02 PM PDT by Jagman
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To: max americana
The idiot slaughtered, froze and airdropped my unicorn right into the backyard.

There's going to be hell to pay.

10 posted on 05/03/2009 7:20:06 PM PDT by muawiyah
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To: Jagman

Major corporations are re-adjusting qtr to qtr. It’s going to get ugly.


11 posted on 05/03/2009 7:20:40 PM PDT by eyedigress
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To: Liberty1970

Unfortunately, the free market is being subverted and has nothing to do with this debacle.


12 posted on 05/03/2009 7:20:57 PM PDT by Jagman
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To: TigerLikesRooster

My prediction....15% unemployment by years end.....75% of my husband’s group was laid off first of May....and these are engineers and other professionals....some administrative....


13 posted on 05/03/2009 7:28:37 PM PDT by goodnesswins (WE have a REPUBLIC.....IF we can KEEP IT!!!)
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To: TigerLikesRooster

What exactly did they expect with Obama’s polices? We will be lucky if we aren’t at 20% unemployment sometime nxt year.


14 posted on 05/03/2009 7:29:30 PM PDT by chris_bdba
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To: Liberty1970

You aren’t kidding. With GM plants going down for 9 weeks instead of two and with Chysler’s problems the numbers in the summer will be very bad.


15 posted on 05/03/2009 7:31:29 PM PDT by chris_bdba
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To: EagleUSA

Is that like, madam I got good news, when your husband jumped from the building, it was from the 10th floor and not the 16th floor. He hit the street with less impact.


16 posted on 05/03/2009 7:31:47 PM PDT by Fee (Peace, prosperity, jobs and common sense)
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To: gthog61

“. No way would an unbiased observer glean any hope out of this data.”

I heard a member of the Obama media say today that the people left after the job losses are being given more work/hours to do the work of those who have been cut, and those lucky b*stards are doing real well in this economy...they’ll spin anything.


17 posted on 05/03/2009 7:31:50 PM PDT by Fu-fu2
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To: goodnesswins
That is likely. On the other hand, Zero's minions will try their best to massage economic data. They may shave off a few percent off the real number as it is calculated these days, which is in and out of itself suspect to begin with.
18 posted on 05/03/2009 7:32:58 PM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

Tax revenues have to be falling off the cliff. They’ll just print more money. Fools.


19 posted on 05/03/2009 7:34:56 PM PDT by VRWC For Truth (Throw the bums out who vote yes on the bail out)
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To: muawiyah
"The idiot slaughtered, froze and airdropped my unicorn right into the backyard."

Now you know why the Acorn census folks are going round making GPS tags for every front door in the nation.

20 posted on 05/03/2009 7:35:03 PM PDT by spokeshave (USA #1; Pirates -3)
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To: chris_bdba

Summer 2009 is going to be hot. June many of the first wave unemployed will run out on their unemployment benefits. What do you think will happen to retail sales and credit card defaults. Every month after June another group of unemployed benefits will run out. Talking about people losing it after they lose everything!!! Summer of 2009 will have riots we never seen since 1967 and 1968. Joblessness and higher local taxes will be the primer, stupid act by a local cop will be match that lites the fire.


21 posted on 05/03/2009 7:39:20 PM PDT by Fee (Peace, prosperity, jobs and common sense)
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To: TigerLikesRooster

It’s starting to hit hard in my neighborhood. Across the street, married couple sold their truck, wife’s job is headed down, hours cut in half. They’re trying to make do with one car. Next door to them, married couple, husband just lost his sales job, wife’s a school teacher who has had her pay cut. I’ve posted before about my own difficulties, having to shut my business down last year and take a job with a former customer. My next door neighbor has taken her brother in, who has lost his employment and apparently is having difficulty supporting himself. Next door on the opposite side, husband’s in aviation mechanics, business is dicey, hours off, wife’s in healthcare, said she should feel ok, but doesn’t, the hospital is quietly letting people go in small numbers, but it’s starting to add up.

This is just within a 200 yard radius of where I’m sitting right now. No foreclosures in this neighborhood, but if things don’t improve in six months or so, I suspect there will be.


22 posted on 05/03/2009 7:49:44 PM PDT by RegulatorCountry
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To: eyedigress
July is going to be very bad.

I figure that the nationwide unemployment rate is going to hit ten percent by then. Still, the effects of the recession are not being felt evenly. My lady and I went to a restaurant tonight with three of her work friends, and by 5:30, the place was chock full of people on a Sunday night. Mind you, this is in the town where Bernie Madoff's accounting firm was located, you know there were a lot of people in that town who lost their shirts to these crooks.

23 posted on 05/03/2009 7:56:22 PM PDT by hunter112 (SHRUG - Stop Hussein's Radical Utopian Gameplan!)
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To: Fee

I hadn’t even though about the unemployment bennfits running out. YIKES this could all get ugly really fast. I am a stay a home wife and Dh is still working. We just found out lst week that if his factory does go down with cap and trade they will retire him like he was 62 (he’s 51) since he has over 30 years in so he would get early retirement benefits but that is only a fraction of what he makes.Luckily outside of the other house we own that is really our only debt. I would hope that if push comes to shove we’d be able to still sell it for what we owe on it. If worse came to worst we could rent it even though I really don’twant to do that.


24 posted on 05/03/2009 7:57:13 PM PDT by chris_bdba
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To: Fee
Expect talk soon of a 2nd Stimuli bill, it will be massive, $5K per family or the like. Direct cash payment to those who need it worse of course. If you oppose it you are heartless, it will pass at 2AM without anyone reading the fine print.

Later we will find out that Chris Dodd slipped in a few bonus's for his buddies at Fannie & Freddie, Murtha will build a 2nd airport in his district and there are 8,782 other earmarks in the bill. The NY Times will run a page 12 story about it for one day and then it will be old news.

What's the difference between $1T or $3T, it is all just funny money anyway. They will do it after the July 4th Tea Parties where of course they will trash those folks as nut cases.

The worse thing is that it will help the economy, at least for a few months and everyone of the left will be crowing about what genius's Obambi and Nancy/Harry are. Of course in a year it will all be back to business as unusual and nothing will have changed.

schu

25 posted on 05/03/2009 8:01:42 PM PDT by schu
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To: TigerLikesRooster

And the market will SOAR


26 posted on 05/03/2009 8:04:46 PM PDT by demsux
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To: hunter112

Among my friends, people who work in the private sector are being affected in various ways—lay-offs, more work hours to make up for those let go, cuts in hours for part-time workers, drop in income for small business owners, etc. People who have government jobs have not been affected so far.


27 posted on 05/03/2009 8:09:20 PM PDT by Fu-fu2
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To: demsux
I know the market will jump a couple of hundred points when everybody who is to be laid off has been laid off, and no more pickup in unemployment number, despite almost 15% unemployment rate and exploding public and private debts.
28 posted on 05/03/2009 8:09:26 PM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: schu

$ 5K will just cover the credit card bills of a typical American family. What money is left for food, utility (which will go up due to fees/taxes), property taxes (which will go up), car payments, etc, etc, etc. Americans need something more permanent like JOBS!!!!!! If that is the second stimulus, it will just be a speed bump on the road to the riots.


29 posted on 05/03/2009 8:11:38 PM PDT by Fee (Peace, prosperity, jobs and common sense)
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To: RegulatorCountry

I am trying to keep tabs on how the rest of the country is doing. Mainly thru youtube.com. For my edification, what county and state are you reporting from?? Appreciate a response.


30 posted on 05/03/2009 8:13:19 PM PDT by Fee (Peace, prosperity, jobs and common sense)
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To: briarbey b

“Just think of the tax revenue Uncle Sam is losing!!”

No need to worry - just raise the taxes on the rich and the companies. Remember - this is “not the time to be making profits”.


31 posted on 05/03/2009 8:15:12 PM PDT by 21twelve (Drive Reality out with a pitchfork if you want , it always comes back.)
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To: TigerLikesRooster
Obamunism, the fatal cure for Bush Derangement Syndrome.
32 posted on 05/03/2009 8:17:36 PM PDT by Kickass Conservative (If Hitler used a TelePrompter, we would all be speaking German...)
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To: Fee

Northwest of Greensboro, Guilford County.


33 posted on 05/03/2009 8:21:26 PM PDT by RegulatorCountry
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To: Kickass Conservative

The trouble is that more RINOism would be touted as Obamunism’s cure by RNC. Speaking of never-ending nightmare.


34 posted on 05/03/2009 8:26:16 PM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: Fee
If that is the second stimulus, it will just be a speed bump on the road to the riots.

Agreed.

They know this, but they will do it anyway.

The economic solutions to recessions are no big secret, cut taxes, reduce interference in the economy, targeted spending. Not sure why Obambi did not get the memo. Makes one think he does not want the US to succeed. Hmmmmm.

schu

35 posted on 05/03/2009 8:50:56 PM PDT by schu
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To: RegulatorCountry

1 existing foreclosure in my neighborhood. 3 of 6 houses in my cul-de-sac are in foreclosure with one (1st person to build here in the subdivision in 1988) going on the auction block May 22nd. RTP area of NC with the 3 foreclosures all once in blue collar occupations. 2 auto repair, one construction - not good.


36 posted on 05/04/2009 2:25:37 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: Fee
Is that like, madam I got good news, when your husband jumped from the building, it was from the 10th floor and not the 16th floor. He hit the street with less impact.

I'm gonna steal that one the next time I update my list: http://www.freerepublic.com/focus/f-news/1982775/replies?c=21

37 posted on 05/04/2009 3:10:42 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: RSmithOpt

1 existing foreclosure = 1 empty ( 8 months now) already foreclosed home with now 3 additional in foreclosure....sorry needed to clarify that


38 posted on 05/04/2009 4:07:05 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: eyedigress

I think our glorious politicians now running things and the LSM are failing to also mention the next big set of ARM’s are due to reset June, July and August. Add this on top of the jobs news, not good.


39 posted on 05/04/2009 4:11:13 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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