Skip to comments.U.S. Private Sector Employment Decreased by 10,000 Jobs in August
Posted on 09/01/2010 5:31:23 AM PDT by abb
ROSELAND, NJ--(Marketwire - September 1, 2010) - Private sector employment decreased by 10,000 from July to August on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The ADP National Employment Report, created by Automatic Data Processing, Inc. (ADP®), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month.
If this is recovery summer I can’t wait for the booming fall.
Real Americans with real families and real bills who are no longer working.
It’s not just on Obama’s watch, but it’s the fault of his Democratic Congress that’s been in power since the economy was ruined in 2007.
Wow. This should cause a stock market boom.
US Stock futures are above 100 right now. They rose on this bad jobs data...
See my comment #7
The stock market has actually rallied since this release. Goes to show there is something else which drives the market other than economic news.
Obama’s too busy payin’ that lady’s mortgage and fillin’ her gas tank to worry about the private sector!
I bring that up over and over and over. Its not obama alone, its the entire govt.
No kidding. Lately it seems unrelated to what is going on. Amazing. Bad news=higher stock.
Call me Pollyanna, but maybe the market is anticipating a GOP Senate and House come November.
It is time for America to quit pretending that the economy belongs to the executive branch. It doesn’t. All spending must originate in the House, be approved by Congress, and only then get signed by the President.
This economy nose-dived when the democrats took Congress in 2007. It’s easy to see on any graph.
the market is just happy it was not far worse. They are looking for signs that we are entering a total collapse. Any data that is bad but not horrendous can cause the market to rise, because it is evidence against the thesis that the bad data from the past couple of weeks is the tip of some total collapse ice berg.
Could be. Gridlock for 2 years would be great. The less they can do the better.
Buying stock right now would scare me. I do not have any and don’t want any.
The ‘94 wave election heralded one of the great bull markets - maybe this one can do the same.
I think this is the only thing that is keeping the market from tanking completely: the polls that indicate the Republicans are going to take control of at least the House.
However, if the market (and the economy) takes off, then you can say hello to President Obama in 2012. Most people vote their pocketbooks, and they don't care about anything else. That's a large part of what kept Clinton in office in 1996 (although I think there were other factors).
Any relationship to 0bama's speech last night, maybe? Just a guess.
any reputable brokerage would tell you to divest stocks-
Problem is- the govt. now controls the brokerages-
there is NO way the govt. can spend, I mean LOSE trillions
of dollars and have the market this high.
There is no way we can have Millions of NEW unemployed
and end up with More Tax revenues!
The market is up largely on indications that foreign economies (largely China and India, but also Germany and France) are performing much better than our own. Because so much American capital is now invested abroad, that’s considered cheery news. The problem of how Americans without jobs will continue to purchase goods and services largely made abroad is presently being ignored.
Article said "planned layoffs decreased by 17%;" I guess that's supposed to be the "good news" nugget from the story. The fact planned layoffs decreased is a bit misleading, since employers are running out of people to lay off.
I guess this signals the end of Barry and Joe's 'Recovery Summer'.
Only 10,000 jobs lost... that’s a good thing!
I think the two reasons the crats will lose the house are healthcare and stimulus.
Remember in 2006-2008 Democrats used to read bad news each day and say “This will help us win in the next elections” ?
Well it is fun to watch them now, they are cornered like rats.
That, and the fact that employers are seen to be laying off fewer workers here (of course, there are fewer to lay off).
Have some shrimp and ice cream cones on us.
Created or saved 2.5 million unemployment claims.
Yes but we can’t blame the Democrats for dragging us into economy in 2007. It was caused by the housing bust thanks to easy money by Fannie and Frannie Mae. However, I’ll give you this, the Democrats are preventing the economy from making an usual recovery with its government interference.
I can and do blame the democrats for dragging us into the economy of 2007. They set it up and allowed it to fester.
No.. No.. unemployment is a lagging indicator.... so this is good news because 6 months ago, we knew the economy wasn't good......... Remember Q1 growth, estimated at 3.7%, actual 3.2%, revise to 2.9%... further revised to 2.5%.... see it all makes sense...
I know i’m stating the obvious but things are not getting any better. My wife works at the corporate office for a large aggregate company in Florida and their president told the entire office (which has about 40-50 employees) that they should start searching for jobs.
Most of the temporary census jobs went away in August. When will their impact be recorded?
The economic news was positive from the Far East, China (PRC), India and Australia all countries, regardless of their political leaning are practicing growing free enterprise, private enterprise, consumer driven economies!!! The United States will take another hit today or tomorrow as auto sales in the USA have slumped dramatically. The USA will not get healthy economically until Obama goes as well as the entire Democrat Party!!!! Folks, employed, underemployed or unemployed, you best vote on November 2, 2010 to totally destroy the entire Democrat party and....with that useless buffoon POTUS Barack Hussein Obama!!!! “REMEMBER NOVEMBER”
There is plenty of bad economic news, but it seems to me that Obama's ego (with help from Pelosi) is making it worse.
House incumbent defeats:
Senate incumbent defeats:
So while 10,000 MORE private sector jobs were lost, how many public sector jabs were added??
” Most of the temporary census jobs went away in August. When will their impact be recorded? “
Won’t be - most of the census jobs were part-time, so not eligible for unemployment benefits, and they won’t show up on the “new claims” unemployment figures...
So the Gummint can show “jobs created” without having to show “jobs lost”....
Which is why I have no money left in the stock market. Other unpredictable forces are at play. Very dangerous.
We are going into what are historically the two months most likely to crash, sep and oct, and we have seen a clear deterioration in the economic figures in the past few weeks, so you are right to be nervous.
I have index funds but they are heavily hedged using deeply in the money covered calls. This yields far more than bonds, and doesn’t lose money unless the market falls by more than 5% in the next month. Even if it does fall that far, there are follow-up actions that will protect most of the principle down further.
The reason i do this is because, while this is a very scary time for stocks, the market is pretty oversold right now, and bonds may be heading for a huge bubble pop so they are no better. If the data improves even slightly, the deeply in the money calls will lose all their time value and I can unwind the position for a quick profit. If the market stays flat, the options again lose time value and I collect dividends in the meantime waiting for them to expire and call away the stock. If the market drops modestly (5%), I still get all of the above benefits. Only in the case of a sharper drop (6+%) does this position start to lose principle. But if a drop starts to occur, I could in most cases roll down the options to a lower strike to provide more of a cushion. The main risk is if there is a sudden “gap down” that does not allow time for a roll. That could happen but I’m ok with taking that risk.
Thats a nice strategy!
But where is your break even if the market rises?
Dow is up about 125 now.
Maybe running Casper Milquetoast Bob Dole put a damper on Rep/Conservative enthusiasm.