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villager Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 07:34 AM
Original message
U.S. Private Sector Job Growth Falls Well Short Of Estimates
Source: RTT News

U.S. Private Sector Job Growth Falls Well Short Of Estimates

(RTTNews) - Private sector employment in the U.S. increased by much less than anticipated in the month of May, according to a report released by payroll processor Automatic Data Processing, Inc. (ADP) on Wednesday, with the report likely to add to recent concerns about the labor market.

ADP said private sector employment increased by 38,000 jobs in May following a downwardly revised increase of 177,000 jobs in April. Economist had expected an increase of about 170,000 jobs compared to the addition of 179,000 jobs originally reported for the previous month.

<snip>


Read more: http://www.rttnews.com/Content/USEconomicNews.aspx?Node=B2&Id=1636695
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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 07:45 AM
Response to Original message
1. Republican Lite Policies bring same result as Republican
Conservative Policies.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 07:47 AM
Response to Original message
2. .......
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lib2DaBone Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 07:55 AM
Response to Reply #2
4. "round up the usual suspects "....
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 08:51 AM
Response to Reply #4
9. "I'm shocked, shocked, to find that...." forecasts were too optimistic (as usual).
Edited on Wed Jun-01-11 09:04 AM by No Elephants
Two things have been fairly consistent with this administration:

1/ Forecasts later prove too optimistic; and

2/ The first version of actual results released is not the final version--and the later version is less positive.


(Not saying this relatively consistent pattern is intentional, but studies show people tend to believe and remember the first thing they hear or read and the "correction" only reinforces the first impression even further.)


The image is the one I use whenever I, like Claude Rains' character, am "shocked, shocked."
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Stinky The Clown Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 07:53 AM
Response to Original message
3. It doesn't meet the technical definition of a depression
I know that fir shure cuz I read it right here.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 09:08 AM
Response to Reply #3
12. Recession is when someone I know loses a job. Depression is when I lose my job.
That's the technical definition.

Oh, sure, government economists have another definition, but, whatever.
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lib2DaBone Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 07:56 AM
Response to Original message
5. Obama Administration Has No Use for WPA-Type Programs that Would Help Poor and Unemployed
David Dayen catches Jared Bernstein, former chief economist for Vice President Joe Biden, making an astonishing admission:

"There will be no WPA-type programs in our near future. There was no appetite for them in the Obama admin in the midst of the worst recession since the Great Depression and there's a lot less now. The reasons for that are interesting and I'll speak to them another day. But it ain't happening."


http://www.alternet.org/newsandviews/article/602831/obama_administration_has_no_use_for_wpa-type_programs_that_would_help_poor_and_unemployed/#paragraph2
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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 08:11 AM
Response to Reply #5
8. Republican Lite Response.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 10:21 AM
Response to Reply #5
15. The only astonishing thing is that, on May 31, 2011, someone was astonished by this "admission."
Has the author of that Huffpo article been in a coma since Obama took office? If he were going to go the New Deal route, things would have been very different from day one.
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vi5 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 08:00 AM
Response to Original message
6. More austerity!!!!
That's definitely the solution.

And more tax cuts for corporations and the wealthy. That way they can create jobs to make product that nobody can afford to buy.
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Le Taz Hot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 08:01 AM
Response to Original message
7. Gained 38,000 in one month?
I think California laid off that many yesterday. :eyes:
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Zoonart Donating Member (15 posts) Send PM | Profile | Ignore Wed Jun-01-11 08:53 AM
Response to Original message
10. Tax Breaks for the Rich
Yes... let's give them more money to reward them for creating all of those fabulous , well paying jobs. Good Job Corporate overlords....... what?.... no jobs?
Really people, when do we get off our asses and take it to the streets?:banghead:
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 09:07 AM
Response to Reply #10
11. +1 n/t
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Roy Rolling Donating Member (762 posts) Send PM | Profile | Ignore Wed Jun-01-11 09:19 AM
Response to Original message
13. proof positive
Well, that's proof positive that we haven't given enough in tax breaks to the rich to help the "job creators." Maybe if we cut their tax rate to zero it will then create some jobs. :sarcasm:
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 09:48 AM
Response to Original message
14. Dang, another prediction failure. nt
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david_vincent Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-01-11 10:41 AM
Response to Original message
16. And in other news: GOVERNMENT ECONOMIST SEES PIE
IN THE SKY.

"It looked like blueberry pie, and it was maybe a thousand feet in the air, huge, just hanging there" said Jonah Diddlebock. "It was hard to tell how big it was, it might've been two or three hundred feet wide, and there was dark blue filling seeping over the edge from under the crust."
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