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U.S. Private Sector Employment Decreased by 10,000 Jobs in August
Marketwire ^ | September 1, 2010 | Staff

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.


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
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Unexpected
1 posted on 09/01/2010 5:31:25 AM PDT by abb
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To: abb
Recovery summer
Fall of prosperity
Winter of our discontent
2 posted on 09/01/2010 5:33:08 AM PDT by ClearCase_guy
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To: abb

Bush’s fault


3 posted on 09/01/2010 5:33:42 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: ClearCase_guy

If this is recovery summer I can’t wait for the booming fall.


4 posted on 09/01/2010 5:34:21 AM PDT by Patrick1
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To: abb

Real Americans with real families and real bills who are no longer working.

It’s tragic.

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.


5 posted on 09/01/2010 5:37:57 AM PDT by xzins (Retired Army Chaplain and proud of it. Those who truly support our troops pray for their victory!)
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To: abb

Wow. This should cause a stock market boom.


6 posted on 09/01/2010 5:38:07 AM PDT by screaminsunshine (m)
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To: abb

US Stock futures are above 100 right now. They rose on this bad jobs data...


7 posted on 09/01/2010 5:39:23 AM PDT by The Magical Mischief Tour
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To: screaminsunshine

See my comment #7


8 posted on 09/01/2010 5:40:14 AM PDT by The Magical Mischief Tour
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To: screaminsunshine

The stock market has actually rallied since this release. Goes to show there is something else which drives the market other than economic news.


9 posted on 09/01/2010 5:40:45 AM PDT by Rational Thought
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To: abb

Obama’s too busy payin’ that lady’s mortgage and fillin’ her gas tank to worry about the private sector!


10 posted on 09/01/2010 5:41:25 AM PDT by COBOL2Java (Obama is the least qualified guy in whatever room he walks into.)
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To: xzins

I bring that up over and over and over. Its not obama alone, its the entire govt.


11 posted on 09/01/2010 5:43:49 AM PDT by GlockThe Vote
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To: Rational Thought

No kidding. Lately it seems unrelated to what is going on. Amazing. Bad news=higher stock.


12 posted on 09/01/2010 5:44:35 AM PDT by screaminsunshine (m)
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To: screaminsunshine

Call me Pollyanna, but maybe the market is anticipating a GOP Senate and House come November.


13 posted on 09/01/2010 5:46:39 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: GlockThe Vote

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.


14 posted on 09/01/2010 5:47:26 AM PDT by xzins (Retired Army Chaplain and proud of it. Those who truly support our troops pray for their victory!)
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To: screaminsunshine

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.


15 posted on 09/01/2010 5:47:40 AM PDT by drangundsturm
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To: abb

Could be. Gridlock for 2 years would be great. The less they can do the better.


16 posted on 09/01/2010 5:47:55 AM PDT by screaminsunshine (m)
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To: drangundsturm

Buying stock right now would scare me. I do not have any and don’t want any.


17 posted on 09/01/2010 5:49:15 AM PDT by screaminsunshine (m)
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To: screaminsunshine

The ‘94 wave election heralded one of the great bull markets - maybe this one can do the same.


18 posted on 09/01/2010 5:50:09 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb


OBAMAVILLE

Gett’n a head fake,
watchin' msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood--
It’s beginnin' to boil.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it's Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven't a clue.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,-- hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it's my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it's my own damn fault
damn fault.

19 posted on 09/01/2010 5:52:08 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: abb
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).

20 posted on 09/01/2010 5:57:01 AM PDT by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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To: screaminsunshine
No kidding. Lately it seems unrelated to what is going on. Amazing. Bad news=higher stock.

Any relationship to 0bama's speech last night, maybe? Just a guess.

21 posted on 09/01/2010 5:58:29 AM PDT by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: screaminsunshine

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!


22 posted on 09/01/2010 6:02:57 AM PDT by mj1234
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To: ScottinVA

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.


23 posted on 09/01/2010 6:03:54 AM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: The Magical Mischief Tour
US Stock futures are above 100 right now. They rose on this bad jobs data...

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.

24 posted on 09/01/2010 6:04:28 AM PDT by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: abb
Whoa! This has been the Democrat talking point for months now, "Ignore the unemployment 'first time filing' numbers. We have been adding private sector jobs every month for (x) months now."

I guess this signals the end of Barry and Joe's 'Recovery Summer'.

25 posted on 09/01/2010 6:05:03 AM PDT by onemiddleamerican (FUBO - and all your terrorist buddies, too!)
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To: abb

Only 10,000 jobs lost... that’s a good thing!


26 posted on 09/01/2010 6:07:37 AM PDT by mikelets456
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To: abb

I think the two reasons the crats will lose the house are healthcare and stimulus.


27 posted on 09/01/2010 6:07:39 AM PDT by screaminsunshine (m)
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To: abb; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; FromLori; Gilbo_3; NFHale; Impy; ...

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.


28 posted on 09/01/2010 6:08:00 AM PDT by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: andy58-in-nh
The problem of how Americans without jobs will continue to purchase goods and services largely made abroad is presently being ignored.

That, and the fact that employers are seen to be laying off fewer workers here (of course, there are fewer to lay off).

29 posted on 09/01/2010 6:09:04 AM PDT by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: abb
Hey Barry! Time for a vacation!

Have some shrimp and ice cream cones on us.

30 posted on 09/01/2010 6:09:09 AM PDT by 4yearlurker (Gus the Scotty dog likes cheese!)
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To: xzins

Created or saved 2.5 million unemployment claims.


31 posted on 09/01/2010 6:09:14 AM PDT by dogcaller
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To: abb
It was unexpected so it is okay.




[/s]




32 posted on 09/01/2010 6:14:33 AM PDT by TomGuy
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To: xzins

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.


33 posted on 09/01/2010 6:17:00 AM PDT by MinorityRepublican
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To: abb
no jobs for the foreseeable future
34 posted on 09/01/2010 6:18:14 AM PDT by dalebert (true hillbilly)
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To: MinorityRepublican

I can and do blame the democrats for dragging us into the economy of 2007. They set it up and allowed it to fester.


35 posted on 09/01/2010 6:18:47 AM PDT by xzins (Retired Army Chaplain and proud of it. Those who truly support our troops pray for their victory!)
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To: TomGuy
It was unexpected so it is okay.

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...

36 posted on 09/01/2010 6:26:31 AM PDT by 11th Commandment (http://www.thirty-thousand.org/)
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To: abb

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.


37 posted on 09/01/2010 6:29:04 AM PDT by chad_in_georgia
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To: abb
This just in from the mainstream media Obama redecorated his office

http://www.nytimes.com/2010/09/01/us/01oval.html?src=mv


38 posted on 09/01/2010 6:32:51 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: abb

Most of the temporary census jobs went away in August. When will their impact be recorded?


39 posted on 09/01/2010 6:33:40 AM PDT by NonValueAdded ("Obama suffers from decision-deficit disorder." Oliver North 6/25/10)
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To: Rational Thought

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”


40 posted on 09/01/2010 6:34:07 AM PDT by JLAGRAYFOX
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To: abb
This is horrid news, as the government sucks the life out of the economy.
41 posted on 09/01/2010 6:38:39 AM PDT by Gabrial (The Whitehouse Nightmare will continue as long as the Nightmare is in the Whitehouse)
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To: sickoflibs
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.

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:


42 posted on 09/01/2010 6:39:59 AM PDT by ding_dong_daddy_from_dumas (Lt. Col. Ralph Peters: Obama is the dog who caught the fire truck!)
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To: abb

So while 10,000 MORE private sector jobs were lost, how many public sector jabs were added??


43 posted on 09/01/2010 6:40:36 AM PDT by Michael Barnes (Call me when the bullets start flying.)
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To: NonValueAdded

” 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”....

Cute, huh??


44 posted on 09/01/2010 6:43:09 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: screaminsunshine

Which is why I have no money left in the stock market. Other unpredictable forces are at play. Very dangerous.


45 posted on 09/01/2010 6:45:15 AM PDT by Jlazoon
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To: screaminsunshine

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.


46 posted on 09/01/2010 6:46:16 AM PDT by drangundsturm
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To: bill1952

47 posted on 09/01/2010 6:46:26 AM PDT by Iron Munro (I carry a gun because I'm too young to die and too old to take any more beatings.)
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To: drangundsturm

Thats a nice strategy!
But where is your break even if the market rises?


48 posted on 09/01/2010 6:48:57 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: screaminsunshine

Dow is up about 125 now.


49 posted on 09/01/2010 6:49:36 AM PDT by ilovesarah2012 (Proud Infidel)
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To: justlurking
That's a large part of what kept Clinton in office in 1996 (although I think there were other factors).

Maybe running Casper Milquetoast Bob Dole put a damper on Rep/Conservative enthusiasm.

50 posted on 09/01/2010 6:50:36 AM PDT by N. Theknow (Kennedys: Can't skipper a boat, Can't drive, Can't ski, Can't fly. But they KNOW what's best.)
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