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Private sector sheds 39,000 jobs in September

apdst

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Wreckovery Summer goes into Wreckovery Fall. It's going to be a bad ass winter for alotta folks.

NEW YORK (Reuters) - Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.

Private sector sheds 39,000 jobs in September - Yahoo! Finance
Why does the Libbo media insist on saying, "unexpectedly"?
 

apdst

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How many did they add?
Well, if we lost 39,000, thenh obviously none were added. If we added jobs, then the headline would read, "X# of jobs added in September".
 

PeteEU

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Impressive apdst... you do know the jobs report is out TOMORROW first right?
 

apdst

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Impressive apdst... you do know the jobs report is out TOMORROW first right?


You know that Gallup estimates the unemployment rate for September to be 10.1%, right?
 

PeteEU

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You know that Gallup estimates the unemployment rate for September to be 10.1%, right?
And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
 

ptif219

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And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
News Headlines

The U.S. economy unexpectedly shed jobs in September for a fourth straight month as government payrolls fell and private hiring was less than expected, hardening expectations of further Federal Reserve action to spur the recovery.

Nonfarm payrolls dropped 95,000, the Labor Department said on Friday. Private employment, a better gauge of labor market health, increased 64,000 after rising 93,000 in August. A total of 77,000 temporary jobs for the decennial census were terminated last month.

Any gain in the next couple months will be temporary jobs for the holiday season not full time jobs
 
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Taylor

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And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
...which is precisely what Gallup predicted:
The government's final unemployment report before the midterm elections is based on job market conditions around mid-September. Gallup's modeling of the unemployment rate is consistent with Tuesday's ADP report of a decline of 39,000 private-sector jobs, and indicates that the government's national unemployment rate in September will be in the 9.6% to 9.8% range. This is based on Gallup's mid-September measurements and the continuing decline Gallup is seeing in the U.S. workforce during 2010.
Gallup suggest that newer data provide a more bleak picture:
However, Gallup's monitoring of job market conditions suggests that there was a sharp increase in the unemployment rate during the last couple of weeks of September. It could be that the anticipated slowdown of the overall economy has potential employers even more cautious about hiring. Some of the increase could also be seasonal or temporary.
In this regard, it is essential that the Federal Reserve and other policymakers not be misled by Friday's jobs numbers. The jobs picture could be deteriorating more rapidly than the government's job release suggests.
 

ricksfolly

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Wreckovery Summer goes into Wreckovery Fall. It's going to be a bad ass winter for alotta folks.
Unemployment numbers mean zippo if they're not compared with the same day before the recession.

Compare before you declare...

ricksfolly
 

cpwill

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you wish to compare to before the recession?

hmm, okay.

In March 2004, when Barack Obama was a candidate for the U.S. Senate in the Illinois Democratic primary, he excoriated President George W. Bush for creating a "jobless recovery." The month he said that, 334,000 new jobs were created—none of them temporary Census ones—and unemployment was 5.8%... Many other Democrats piled on Mr. Bush at the time. "Mr. President, where are the jobs?" Rep. Nancy Pelosi asked on CNN in October 2003. "The American people will not settle for—nor should the Republicans celebrate—a jobless recovery." That month saw 203,000 new jobs and 6% unemployment...



it is worth noting as well that the government's figures don't account for the latter half of the last month and look to be modified downard in a couple of weeks after the election, methinks
 

apdst

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Unemployment numbers mean zippo if they're not compared with the same day before the recession.

Compare before you declare...

ricksfolly
The Messiah, himself, declared today that there were 95,000 jobs lost in September. Looks like Pete was right and the 39,000 figure was wrong, afterall.

Tell all those folks who can't pay their bills, that the unemployment numbers don't mean zip.
 

ricksfolly

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The Messiah, himself, declared today that there were 95,000 jobs lost in September. Looks like Pete was right and the 39,000 figure was wrong, afterall.

Tell all those folks who can't pay their bills, that the unemployment numbers don't mean zip.
People are always losing and gaining jobs for one reason or another. November, 1982, the unemployment reached 10.8 percent.

We recovered after that, went on up to new heights, and can reasonably expect the same thing to happen this time.

ricksfolly
 

apdst

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People are always losing and gaining jobs for one reason or another. November, 1982, the unemployment reached 10.8 percent.

We recovered after that, went on up to new heights, and can reasonably expect the same thing to happen this time.

ricksfolly
I agree the same thing will happen...right after we have a change in leadership.
 

ptif219

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People are always losing and gaining jobs for one reason or another. November, 1982, the unemployment reached 10.8 percent.

We recovered after that, went on up to new heights, and can reasonably expect the same thing to happen this time.

ricksfolly
When?In 2020

U.S. Won
 

obvious Child

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I agree the same thing will happen...right after we have a change in leadership.
Care to cite a historical example of a financial/leverage based recession where change in leadership resulted in immediate job gains? Good luck with that.

You do realize you are cheering for a party that has explicitly argued to cut spending without realizing that will result in job cuts and all of the associated indirect jobs reliant on that spending no? Several towns in Florida were expected to become ghost towns if the Space Shuttle funding was permanently cut. All of the local businesses who relied on those workers were planning for hard times. Tell me, how do you think that cutting spending like that on a national wide basis will result in more jobs? Do you understand the marginal propensity to consume not to mention money velocity? More likely, the GOP will realize this will actually increase unemployment and cost them votes and then decide to go back to the Bush era of spend and borrow. And we'll get the same excrement we got from the GOP in 2003.
 
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American

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And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
66,000 whole new jobs.....WOW :mrgreen:
 

Objective Voice

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If Republicans win the midterms and have their I think this country will begin to see the exact same hardtimes some European countries are experiencing because their governments were pretty much shut down and government jobs remained the primary economic engine during their recessionary period.

The evidence that our nation is recoverying from the recession is the fact that private sector jobs are returning...in small quantities, but they are returning. I think you screw that up if you do the level of across-the-board spending cuts Republicans propose. Alot of the federal programs that would be affected are likely private-public jobs. You really don't want to mess with that mix too much.
 

obvious Child

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You really don't want to mess with that mix too much.
Which is basically why I think the GOP is not going to make the cuts they are saying they will. It would mean increasing the unemployment rate, costing their voters jobs and making the deficit even larger. It's all fun and games until it's your district they are cutting in. Right now several Republicans are fighting base closures despite billions in cost savings. Vitter came out against Obama's plan to have the private sector take over space deliveries because it would cost his district jobs. Christie in New Jersey reconsidered closing the tunnel project. It would have cost tens of thousands of private sector construction jobs. The GOP is promising all sorts of cuts but I seriously doubt they will cut their own voters' jobs. And for politicians like Boehner and McConnell who aren't interested in leaving their jobs, being responsible for large private sector job cuts is not something they will take sitting down.

We're going to go back to spend and borrow if the GOP takes Congress. People really need to learn that the GOP is no different from the Dems. I don't get why people are so enthusiastic about this election. By object measures, you should be very disillusioned. Both parties are incompetent. Both spend crazy. Both are looking out for themselves. Neither has any real plan.
 

apdst

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Care to cite a historical example of a financial/leverage based recession where change in leadership resulted in immediate job gains? Good luck with that.

You do realize you are cheering for a party that has explicitly argued to cut spending without realizing that will result in job cuts and all of the associated indirect jobs reliant on that spending no? Several towns in Florida were expected to become ghost towns if the Space Shuttle funding was permanently cut. All of the local businesses who relied on those workers were planning for hard times. Tell me, how do you think that cutting spending like that on a national wide basis will result in more jobs? Do you understand the marginal propensity to consume not to mention money velocity? More likely, the GOP will realize this will actually increase unemployment and cost them votes and then decide to go back to the Bush era of spend and borrow. And we'll get the same excrement we got from the GOP in 2003.
Uh...what? Are you an Obama supporter? The same Obama that killed thousands of NASA jobs?

What are you even talking about?!?
 

obvious Child

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Uh...what? Are you an Obama supporter?
On some items. Not on others.

The same Obama that killed thousands of NASA jobs?
Which was the right thing to do. Vitter was completely full of crap. The free market has shown clear competency in space cargo transporation. Why should we rely on the government to do a job that the free market can do better? Did it cost jobs? Yes. The space capsule program cost jobs. But we didn't need to employ Americans solely to employ Americans. And Vitter was uber-pissed about this. Cuts in MY district? Oh no you didn't. The funny thing is that the GOP bashed Obama for this and then wants to replicate it across the country.

What are you even talking about?!?
Something you'd know about if you paid any attention.
 
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