Private-sector cut 697,000 jobs in February, ADP says

The U.S. labor market worsened in February, as private-sector firms cut 697,000 jobs in February, the ADP employment index reported Wednesday.

The labor market is "still in miserable shape," wrote economists for Goldman Sachs.
Another report from Challenger Gray & Christmas showed layoff plans rose 158% compared with a year earlier. See full story.

The reports come two days before the Labor Department reports its estimate for nonfarm payrolls. Economists are looking for the worst job loss in nearly 60 years. See full story.
The drop in ADP index was the largest ever, dating back to 2001. January's loss was revised sharply lower to 614,000 from 522,000 reported a month ago.

The goods-producing sector shed 338,000 jobs, the 26th consecutive decline. Manufacturing lost 219,000, while construction lost 114,000.
The services sector lost 359,000 jobs.
The ADP index does not include government jobs. Adding in the typical 12,000 jobs gained in the public sector, the ADP report points to nonfarm payrolls falling by 685,000, compared with the MarketWatch consensus of 640,000. See Economic Calendar.

"The recession has spread aggressively to small-size businesses," said Joel Prakken, chairman of Macroeconomics Advisers, the economic consulting firm that computes the ADP index from anonymous payroll data provided by ADP. Small businesses (those with less than 50 employees) cut 262,000 jobs in February.
Large businesses (with more than 500 employees) cut 121,000 jobs, while medium-sized businesses cut 314,000.

Private sector cut record 697,000 jobs in February, ADP says - MarketWatch

The effects of BushCo continue.
Why are you responding now to things I posted back in 2009?

It's as true today as it was then.
How is it relevant to what is going on today?
 
The U.S. labor market worsened in February, as private-sector firms cut 697,000 jobs in February, the ADP employment index reported Wednesday.

The labor market is "still in miserable shape," wrote economists for Goldman Sachs.
Another report from Challenger Gray & Christmas showed layoff plans rose 158% compared with a year earlier. See full story.

The reports come two days before the Labor Department reports its estimate for nonfarm payrolls. Economists are looking for the worst job loss in nearly 60 years. See full story.
The drop in ADP index was the largest ever, dating back to 2001. January's loss was revised sharply lower to 614,000 from 522,000 reported a month ago.

The goods-producing sector shed 338,000 jobs, the 26th consecutive decline. Manufacturing lost 219,000, while construction lost 114,000.
The services sector lost 359,000 jobs.
The ADP index does not include government jobs. Adding in the typical 12,000 jobs gained in the public sector, the ADP report points to nonfarm payrolls falling by 685,000, compared with the MarketWatch consensus of 640,000. See Economic Calendar.

"The recession has spread aggressively to small-size businesses," said Joel Prakken, chairman of Macroeconomics Advisers, the economic consulting firm that computes the ADP index from anonymous payroll data provided by ADP. Small businesses (those with less than 50 employees) cut 262,000 jobs in February.
Large businesses (with more than 500 employees) cut 121,000 jobs, while medium-sized businesses cut 314,000.

Private sector cut record 697,000 jobs in February, ADP says - MarketWatch

The effects of BushCo continue.
Why are you responding now to things I posted back in 2009?

It's as true today as it was then.
How is it relevant to what is going on today?

The effects of the BushCo are as ever present today as in 2009. The middle class is the only class yet to filly recover due to the work of Republicans. Workers in this country MUST receive a pay raise in order for this country to become economically healthy again, and the only way that is going to happen is by regulation.
 
The U.S. labor market worsened in February, as private-sector firms cut 697,000 jobs in February, the ADP employment index reported Wednesday.

The labor market is "still in miserable shape," wrote economists for Goldman Sachs.
Another report from Challenger Gray & Christmas showed layoff plans rose 158% compared with a year earlier. See full story.

The reports come two days before the Labor Department reports its estimate for nonfarm payrolls. Economists are looking for the worst job loss in nearly 60 years. See full story.
The drop in ADP index was the largest ever, dating back to 2001. January's loss was revised sharply lower to 614,000 from 522,000 reported a month ago.

The goods-producing sector shed 338,000 jobs, the 26th consecutive decline. Manufacturing lost 219,000, while construction lost 114,000.
The services sector lost 359,000 jobs.
The ADP index does not include government jobs. Adding in the typical 12,000 jobs gained in the public sector, the ADP report points to nonfarm payrolls falling by 685,000, compared with the MarketWatch consensus of 640,000. See Economic Calendar.

"The recession has spread aggressively to small-size businesses," said Joel Prakken, chairman of Macroeconomics Advisers, the economic consulting firm that computes the ADP index from anonymous payroll data provided by ADP. Small businesses (those with less than 50 employees) cut 262,000 jobs in February.
Large businesses (with more than 500 employees) cut 121,000 jobs, while medium-sized businesses cut 314,000.

Private sector cut record 697,000 jobs in February, ADP says - MarketWatch

The effects of BushCo continue.
Why are you responding now to things I posted back in 2009?

It's as true today as it was then.
How is it relevant to what is going on today?

The effects of the BushCo are as ever present today as in 2009. The middle class is the only class yet to filly recover due to the work of Republicans. Workers in this country MUST receive a pay raise in order for this country to become economically healthy again, and the only way that is going to happen is by regulation.
Since there is no harsher critic of Bush than Trump and since Trump is the only candidate who has a plan to raise wages and salaries, you must be saying, vote Trump.
 
The effects of BushCo continue.
Why are you responding now to things I posted back in 2009?

It's as true today as it was then.
How is it relevant to what is going on today?

The effects of the BushCo are as ever present today as in 2009. The middle class is the only class yet to filly recover due to the work of Republicans. Workers in this country MUST receive a pay raise in order for this country to become economically healthy again, and the only way that is going to happen is by regulation.
Since there is no harsher critic of Bush than Trump and since Trump is the only candidate who has a plan to raise wages and salaries, you must be saying, vote Trump.

Trump has no plan to raise wages.
 

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