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

[toomuchtime_]

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

 

[Chris]

John McCain doesn't care.

He's more concerned about earmarks!!!

 

[WillowTree]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

 

[Chris]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

Yea, we might have a recession!

Better to keep sending hundreds of billions of dollars to Iraq.

Otherwise, we'll be "emboldening the terrorists!"

 

[DavidS]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

Actually, all of these job cuts are with the Bush tax cuts. You see, the corporations are still under Bush's tax cuts that he implemented back in 2001 and 2003. This was because of the theory that tax cuts would help businesses employ more people.

And the number is going to be higher than 700,000. ADP hasn't been accurate in ages.

 

[WillowTree]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

Yea, we might have a recession!

Better to keep sending hundreds of billions of dollars to Iraq.

Otherwise, we'll be "emboldening the terrorists!"

do what you want dumbocrat,, you got the power! we're watching with baited breath!!

 

[mash107]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

But... when the Democrats tax/borrow and spend trillions of dollars, magically, it'll cure the economy instead of damage it like when the Republicans did it.

 

[WillowTree]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

Actually, all of these job cuts are with the Bush tax cuts. You see, the corporations are still under Bush's tax cuts that he implemented back in 2001 and 2003. This was because of the theory that tax cuts would help businesses employ more people.

And the number is going to be higher than 700,000. ADP hasn't been accurate in ages.

failed! poor old dumocrats..

 

[WillowTree]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

But... when the Democrats tax/borrow and spend trillions of dollars, magically, it'll cure the economy instead of damage it like when the Republicans did it.

contortion distortion!

 

[xsited1]

How many government jobs were cut during the same period?

 

[DavidS]

failed! poor old dumocrats..

Uh, what? You mentioned raising taxes on corporations and the rich in response to the loss of 700,000 jobs. Our tax rates are currently the same they were under Bush, with the exception of people making under 200,000 and families making under 250,000 receiving a small increase in the amount they can deduct in their taxes. But the rich haven't had their taxes increased yet and neither have corporations. So please tell me how the job losses have to do with non-existent tax increases and tell me how the tax cuts that Bush implemented 8 years ago have helped us when we're basically losing 1 million jobs a month.

 

[Harry Dresden]

How many government jobs were cut during the same period?

none.....govt workers are more productive,and they keep the country going....so they get to keep their jobs.....hey just sayin....

 

[WillowTree]

failed! poor old dumocrats..

Uh, what? You mentioned raising taxes on corporations and the rich in response to the loss of 700,000 jobs. Our tax rates are currently the same they were under Bush, with the exception of people making under 200,000 and families making under 250,000 receiving a small increase in the amount they can deduct in their taxes. But the rich haven't had their taxes increased yet and neither have corporations. So please tell me how the job losses have to do with non-existent tax increases and tell me how the tax cuts that Bush implemented 8 years ago have helped us when we're basically losing 1 million jobs a month.

anticipation baby,, anticipation

 

[editec]

keep raising taxes on corportations and the rich,, see how that works? hee hee! it's not as if people weren't trying to tell you DUmocrats that would happen..

Actually, all of these job cuts are with the Bush tax cuts. You see, the corporations are still under Bush's tax cuts that he implemented back in 2001 and 2003. This was because of the theory that tax cuts would help businesses employ more people.

And the number is going to be higher than 700,000. ADP hasn't been accurate in ages.

failed! poor old dumocrats..

No, actually he's right.

Bush II's tax cuts for billionaires are still in effect. They will be until 2010.

It might help you not to look like a complete fool, dear, if before you pronouced somebody else's post a failure, if you had even the slightest idea what people who are infomred are talking about.

Clearly you don't..ever.

 

[DavidS]

failed! poor old dumocrats..

Uh, what? You mentioned raising taxes on corporations and the rich in response to the loss of 700,000 jobs. Our tax rates are currently the same they were under Bush, with the exception of people making under 200,000 and families making under 250,000 receiving a small increase in the amount they can deduct in their taxes. But the rich haven't had their taxes increased yet and neither have corporations. So please tell me how the job losses have to do with non-existent tax increases and tell me how the tax cuts that Bush implemented 8 years ago have helped us when we're basically losing 1 million jobs a month.

anticipation baby,, anticipation

what the fuck are you talking about? can you actually form a full sentence instead of looking like a complete idiot like ed made you look like? come on, willow, you're not as dumb as some of the right-wingers on here, but you're ignoring that our current tax rates are still under Bush's tax cuts.

 

[WillowTree]

Actually, all of these job cuts are with the Bush tax cuts. You see, the corporations are still under Bush's tax cuts that he implemented back in 2001 and 2003. This was because of the theory that tax cuts would help businesses employ more people.

And the number is going to be higher than 700,000. ADP hasn't been accurate in ages.

failed! poor old dumocrats..

No, actually he's right.

Bush II's tax cuts for billionaires are still in effect. They will be until 2010.

It might help you not to look like a complete fool, dear, if before you pronouced somebody else's post a failure, if you had even the slightest idea what people who are infomred are talking about.

Clearly you don't..ever.

you fail,, and so has your leader,,

 

[WillowTree]

Uh, what? You mentioned raising taxes on corporations and the rich in response to the loss of 700,000 jobs. Our tax rates are currently the same they were under Bush, with the exception of people making under 200,000 and families making under 250,000 receiving a small increase in the amount they can deduct in their taxes. But the rich haven't had their taxes increased yet and neither have corporations. So please tell me how the job losses have to do with non-existent tax increases and tell me how the tax cuts that Bush implemented 8 years ago have helped us when we're basically losing 1 million jobs a month.

anticipation baby,, anticipation

what the fuck are you talking about? can you actually form a full sentence instead of looking like a complete idiot like ed made you look like? come on, willow, you're not as dumb as some of the right-wingers on here, but you're ignoring that our current tax rates are still under Bush's tax cuts.

read my lips, I will speak slowly for you and for edictt. You failed leader has promised to raise taxes on the rich, and on corporations,,oh and heavy heavy with cap and trade taxes,, its a promise,, and in anticipation they are starting to cut back,, it's a survival tactic,, see? your obamalama ain't coming through with the miracle cure like he promised, are ya watching wall street? they mock him,, he has demonized them for two years and now they mock him.. the rich people mock him too! oh and I bet all the shenanagins with the unions doing away with a secret ballots has employers on the run,, cut jobs now so they don't have to pay those big assed union wagess.. you guys are scaring the shit outta people..own it

 

[DavidS]

anticipation baby,, anticipation

what the fuck are you talking about? can you actually form a full sentence instead of looking like a complete idiot like ed made you look like? come on, willow, you're not as dumb as some of the right-wingers on here, but you're ignoring that our current tax rates are still under Bush's tax cuts.

read my lips, I will speak slowly for you and for edictt. You failed leader has promised to raise taxes on the rich, and on corporations,,oh and heavy heavy with cap and trade taxes,, its a promise,, and in anticipation they are starting to cut back,, it's a survival tactic,, see? your obamalama ain't coming through with the miracle cure like he promised, are ya watching wall street? they mock him,, he has demonized them for two years and now they mock him.. the rich people mock him too! oh and I bet all the shenanagins with the unions doing away with a secret ballots has employers on the run,, cut jobs now so they don't have to pay those big assed union wagess.. you guys are scaring the shit outta people..own it

You're a fucking moron and you know nothing about the economy nor how a business works. You are blind. The economy is in a recession because of a lack of regulation in our markets allowed greedy sob's to make billions and then to lose it all. People are spending less. It has absolutely NOTHING to do with tax increases or decreases.

 

[Chris]

Republicans never take responsiblity for anything.

 

[Meister]

what the fuck are you talking about? can you actually form a full sentence instead of looking like a complete idiot like ed made you look like? come on, willow, you're not as dumb as some of the right-wingers on here, but you're ignoring that our current tax rates are still under Bush's tax cuts.

read my lips, I will speak slowly for you and for edictt. You failed leader has promised to raise taxes on the rich, and on corporations,,oh and heavy heavy with cap and trade taxes,, its a promise,, and in anticipation they are starting to cut back,, it's a survival tactic,, see? your obamalama ain't coming through with the miracle cure like he promised, are ya watching wall street? they mock him,, he has demonized them for two years and now they mock him.. the rich people mock him too! oh and I bet all the shenanagins with the unions doing away with a secret ballots has employers on the run,, cut jobs now so they don't have to pay those big assed union wagess.. you guys are scaring the shit outta people..own it

You're a fucking moron and you know nothing about the economy nor how a business works. You are blind. The economy is in a recession because of a lack of regulation in our markets allowed greedy sob's to make billions and then to lose it all. People are spending less. It has absolutely NOTHING to do with tax increases or decreases.

David, Willow knows more about the market than what your giving her credit for. The economy is in the tank , not because of the rich...it's the politicians...both sides of the politicians. They made bad decisions that have comeback to haunt them. The housing, the banks is what got us to where we are. Like i said there is equal blame to be placed on the republicans, and the democrats. The market is a leading indicator for the economy, for example...oil prices go through the roof..the first thing to react, even before the gas prices go up, is the market. When Obama talks down capitalism, (this is private corporations, and businesses), the first thing to react to that...even before he signs in legislation, is the market. If obama isn't going to do the right thing, the stock market is the first to tell him. It's the stock market that will lead us out of recession. Like i said, it's all about perception, and the market has a drum beat going...that's not good.