Posted on 10/06/2010 5:48:21 AM PDT by Need4Truth
WASHINGTON (MarketWatch) - Companies in the U.S. private sector shed 39,000 jobs in September, according to the ADP employment report released Wednesday. The reading was below than economist's expectations of a 20,000 gain. This is the first decline in the ADP report since January. Job cuts in August were revised up to a gain of 10,000 from the initial estimate of a drop of 10,000. According to ADP, the goods-producing sector lost 45,000 jobs in September, including 17,000 in manufacturing. The service sector added 6,000 jobs. On Friday, the Labor Department will release its monthly employment report. Economists expect nonfarm payroll fell 8,000 in September after falling 54,000 in August. The unemployment rate is expected to inch higher to 9.7%. The private sector is expected to add 85,000 jobs, up from 67,000 in the prior month
(Excerpt) Read more at marketwatch.com ...
hummm very unexpected
This is the last report of this particular time series data that will be reported before the election. Ain’t that a bitch?
Try and sugar coat that, Zero!
Don’t forget to account for layoffs from census jobs and local and state governments having to make ends meet.
What is the population of the US? 300 million?
And the media is going to flip out about 39,000 lost jobs?
This is 0.01%.
This is nothing (unless you are one of the 39,000, of course.
Notice they don’t say unemployment up.
Still Bush’s fault.
And Benjamin Harrison’s.
Read this carefully, it means that the August jobs lost were revised by 20,000. IE 20,000 more lost jobs in August that initially reported. Following this fact, this means that the 39,000 number for September is really 59,000 !!!!!
I have come to understand that “jobs shed” is different than “unemployment.”
I can lay a worker off, but not cancel my need for that job some day.
But, if a line or plant goes overseas, or shuts its doors, or automates, then those jobs are “lost” forever.
That’s my current understanding. It’s the only way I can reconcile weekly reports of 450,000 new applications for unemployment checks with “jobs lost” totaling only 10-40 thousand.
Does anyone know what the right answer is?
It is effectively zero job growth. Very serious.
UNEXPECTED !
These prognosticators couldn’t predict the cardinal direction of a sunrise. If that’s not bad enough, when the Sun comes up in the East, the MSM prints the story with their prediction as if it’s unexpected!
quick Feds print more money to buy more stocks to make it look like things are rosy to the fools on the market before an election.
Phew! Too much news. I guess I’m just too frazzled from experiencing the “Summer of Recovery”. I can’t wait for November to vote again for the DIMs who have provided so well for me. nobama is sooooo intelligent. nobama is all-knowing.
59,000 worse than expected.
This only measures private employment. As mentioned, public employment likely fell due to the census. Friday’s Nonfarm Payrolls could be bad.
unexpected! drink!
“Companies in the U.S. private sector shed 39,000 jobs in September, according to the ADP employment report released Wednesday. This is the first decline in the ADP report since January.”
but...
“The private sector is expected to add 85,000 jobs, up from 67,000 in the prior month.”
Am I missing something here??
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