The best bad news in a looooong time

Discussion in 'Economy' started by DavidS, May 6, 2009.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    http://www.marketwatch.com/News/Story/Story.aspx?guid={1142F145-1AAD-4A1A-821F-A203F29ECA33}

    WASHINGTON (MarketWatch) -- Private-sector employment in the United States fell by 491,000 jobs in April, according to the ADP employment index released Wednesday. The March number was revised higher to a decline of 708,000 from a decline of 742,000. The index comes two days before the government releases its estimate of April nonfarm payrolls. Economists are looking for payrolls to drop by 580,000 in the government survey, which would be the smallest decline since October.
     
  2. Xenophon
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    Xenophon Gone and forgotten

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    People are still losing work, nothing good there.
     
  3. auditor0007
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    auditor0007 Gold Member

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    Since there are less total people employed now compared to one year ago, it means less people are in threat of losing their job, so it would stand to reason that the loss in jobs would begin to decrease. The question is, when will jobs begin to be created? Right now, it doesn't look like that will come about in the very near future.
     
  4. Iriemon
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    Iriemon VIP Member

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    Additional job loss is not good, but less job loss is certainly better than more!

    Economicially things generally stop getting worse as fast before they actually start getting better.
     
  5. DavidS
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    DavidS Anti-Tea Party Member

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    Completely incorrect. There are companies that are much worse off today than they were a year ago, thus they have to lay people off. This is why we were looking for about 650,000 jobs to be lost.

    Instead, there were just shy of 500,000, which means Obama's economic stimulus plan is WORKING.
     
  6. Xenophon
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    Xenophon Gone and forgotten

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    It does no such thing.

    It means an additional 400,000 people are out of work, not a gain of jobs.
     
  7. Old Rocks
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    Old Rocks Diamond Member

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    OK. It will either be an anolomy in the downward slide, or it is the beginning of an improvement in employment trends. If we see less people layed off next month, then that will be a good sign things are starting to go the other way. When we start to see gains, instead of losses, then we can say it has turned arround.

    But things look slightly better than they did a month ago.
     
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  8. driveby
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    driveby Gold Member

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    Sure it is Robert Gibbs.......
     
  9. Iriemon
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    Iriemon VIP Member

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    It would be a mistake IMO to make sweeping predictions based on one month's data, but hopefully this is a trend in a new direction.
     
  10. garyd
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    garyd Senior Member

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    David that's just retarded. How many people do you think can lose their jobs before the number of job losses must be reduced simply because here simply aren't enough people left working to keep pushing it at that level.
     

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