Smoking Hot Economy Added 13,000 Private Sector Jobs Added in June
[dear readers…I fixed bc3b’s thread title. He mistakenly used the word “Only“, instead of “Smoking Hot Economy” to start the title.]
Yes sir, that Stimulus is really causing the employment to rebound. In June the private sector added a whopping 13,000 jobs. Things are really falling apart. It’s even going to be tough for the pro-Obama media to put lipstick on this pig.
U.S. private employers added just 13,000 jobs in June, according to a report published Wednesday that suggested expectations of a big drop in the government’s upcoming nonfarm payrolls report were on target.
The ADP Employer Services report also said May’s gain was revised marginally higher to 57,000 from the original estimate of 55,000.
That revision was basically the only good news, however, in a report that under-shot expectations of a rise of 60,000 private-sector jobs in June.
It also supported fears that the short and tepid recovery from the worst recession since the 1930s was fizzling.
“There is really no way to characterize this number other than disappointing,” said Macroeconomic Advisers LLC chairman Joel Prakken, whose firm jointly developed the ADP report. “The overall number tells you that the recovery in the jobs market is very, very sluggish at this point.”
The ADP figures come ahead of the government’s much more comprehensive labor market report Friday.
That report is expected to show a fall in nonfarm payrolls of 110,000 in June overall, as many temporary workers hired to complete the government’s decennial census were let go.
“It is now generally expected that the peak level of census employment was in May and that in June there will be a decline in census hiring,” Prakken said. “And for that reason I think it’s very likely that the number reported Friday is going to be a negative number.”
Hat tip: Reuters via msnbc.
![](http://www.parentalrights.org/vertical/Sites/%7BC49108C5-0630-467E-9B9B-B1FA31A72320%7D/uploads/%7B3EA8D754-D841-4FF4-882C-32895D89991D%7D.PNG")
[1]
…last month it was 41,000! But, oh we are in the “summer of recovery!”
Give me a break!
[2]
If memory serves the economy has to generate ~300k+ jobs just to stay even with demographics. We have not seen that figure consistently in over two years. So we are deeply in the hole.
I would hate to be a teenager looking for a summer job.
[3]
So what might we see between now and EOY. How about the stock market sits on its haunches for the summer between 9-10,000. Then we will see a quick pickup 4Q as people finalize any sell offs this year before taxes kick everyone in the butt next year. After that its another double dip slide. Sigh….
[4]
We have to help the president succeed! Can we chant or something? mmm mmm mmm
[5]
Come Labor Day weekend, census hiring expected to end.
GULP!
[6]
Now what will they do?
[7]
2 – The break even number is more like 150k-200k mo, at least that what the liberals and media were saying circa 2004-2008.
[8]
Example:
http://mcauleysworld.wordpress.com/2010/06/04/may-2010-jobs-report-econcomy-is-still-losing-ground-job-creation-isnt-keeping-pace-with-the-number-of-new-workers/
[9]
(CNN) — A Missouri VA hospital is under fire because it may have exposed more than 1,800 veterans to life-threatening diseases such as hepatitis and HIV.
John Cochran VA Medical Center in St. Louis has recently mailed letters to 1,812 veterans telling them they could contract hepatitis B, hepatitis C and human immunodeficiency virus (HIV) after visiting the medical center for dental work, said Rep. Russ Carnahan.
—
Just great. 🙄
[10]
More hypocrisy from the king.
http://www.cbsnews.com/8301-503544_162-20009286-503544.html
[11]
bc3b…I fixed the thread title for ya! 🙂
[12]
wow, KH…CBS reported that??? and that way?
hmmm…maybe the Press is getting tired of complimenting the naked King on his new clothes!
[13]
DOW goes negative.
Today figured to be a “rebound” day
[14]
Pres is out there trying to sell this BS as progress, and that this is all Bush’s fault. lol
The only people buying that arrangement are committed leftists, and even some of them don’t even buy it.
[15]
they could contract hepatitis B, hepatitis C and human immunodeficiency virus (HIV) after visiting the medical center for dental work, said Rep. Russ Carnahan. ~~~~KH
Harbinger of the future when DADT is repealed.Your homo muslim surgeon will spit in your wound.
[16]
Yesterday I was listening to author/economist Stephen Moore on a radio program. He gave a little snippet of what kind of taxes to expect in 2011.
Capital gains will go from 15% to 20%. In 2013 it is scheduled to go up to around 23.4%.
Death taxes will go up to 55% (being zero this year), with a lowered individual exemption of one million dollars.
The kicker, though, is the capital gains that will be attached to dividend income. It will go from a current 15%, climbing to a staggering 39% in 2011!
If Moore’s statements are correct it will effect those, especially seniors, who oftentimes depend on SS and dividend income to sustain themselves. I also wonder how anticipation of this tax gouge will effect the stock market, in general. Will people do a mass sell-off at the end of ’10, to avoid a higher capital gains?
[17]
Do not forget the coming increase from the HC bill in medicare taxes, oh and the 1099 things which is really a thinly disguised tax increase\ increased business expense.
[18]
Speaking of stimulus, Tiger Woods’ wife, Elin, gets $750 million for her silence.
Wow.
[19]
18, Ex-wife !
[20]
#16 Dude
I honestly do not see how anyone can afford any of this save for the very rich and the ultra poor.
[21]
ECONOMIC COLLAPSE.
Not because of the taxes, but because of the revolts.
It will cause more job losses.
2011 is it!
GAME OVER.
Thanks for playing!
[22]
Thomas Sowell had another one of his eye-opening/common sense columns a couple of weeks ago about a table in the book Out of Work: Unemployment and Government in Twentieth-Century America that listed unemployment rates for every month during the entire decade of the 1930s.
Hoover intervened in June 1930, with these results:
[23]
Uh oh, INC, off to the re-education kamp for you, as you simply do not understand history the way it was re-written. Er, as it happened. Yes, history as it happened, you just aren’t getting it.
[24]
18 – More evidence for the marriage only benefits the woman file. 😉
[25]
22 – Careful putting out stuff like that may get you sent to reeducation camp.
[26]
22 – Check out this hilarity
Bet on Private Sector for Recovery Could Prove Risky
http://finance.yahoo.com/news/Bet-on-Private-Sector-for-nytimes-3465748713.html?x=0&sec=topStories&pos=7&asset=&ccode=
—
But what would you expect from the NYCrimes.
[27]
Hey, beej & KH, as long as I can be in Thomas Sowell’s group I won’t worry! I figure he will re-educate the re-educators!
Perhaps cause a few of those turncoats to turn their coats yet again!
[28]
KH/26/ Honestly, after reading that column I want to pull my hair out.
JournoList spin with revisionist history and upside-down/scrambled economics.
[29]
INC, you’ll feel much better after “the process”… 🙂
[30]
Death taxes will go up to 55% (being zero this year), with a lowered individual exemption of one million dollars. — Janzam
Soooooo, that’s why Byrd decided to pass away this year…