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Thread: Job growth disappoints on weak private sector hiring

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    Job growth disappoints on weak private sector hiring

    WASHINGTON (Reuters) - Hiring by U.S. private employers slowed sharply in May, a setback for the economy's recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.

    Nonfarm payrolls rose by 431,000 jobs on the surge in government hiring but private employment, a barometer of underlying labor market strength, climbed just 41,000, the Labor Department said on Friday.

    Analysts said the data was disappointing but it was unlikely the economy would slip back into recession. Companies are already spread too thin on labor and cannot increase working hours indefinitely to maintain output, they said.

    "We do not yet have the makings of a double-dip, and we still believe that private sector job creation will gradually improve over the rest of the year," said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts.

    Financial markets expected private employment to rise 190,000 after increasing 218,000 in April.
    Job growth disappoints on weak private sector hiring - Yahoo! Finance

    The Dow Jones Industrial Average dropped over 200 points after the sour job numbers were posted today. Of the 430,000 jobs created last month, only 41,000 were in the private sector. The rest were government jobs, primarily with the census bureau.

    A whistle blower in the Census is now claiming that the Census bureau hires people, trains them, then lays them off. A few days later, they hire them again, thus a "new" job is created.

    The unemployment rate dropped to 9.7% last month, so I'm sure the Obama administration will be crowing about the tiny drop, while forgetting to mention that most is due to government hiring. Private sector employment is still in the toilet.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Job growth disappoints on weak private sector hiring

    Quote Originally Posted by Gill View Post
    Job growth disappoints on weak private sector hiring - Yahoo! Finance

    The Dow Jones Industrial Average dropped over 200 points after the sour job numbers were posted today. Of the 430,000 jobs created last month, only 41,000 were in the private sector. The rest were government jobs, primarily with the census bureau.

    A whistle blower in the Census is now claiming that the Census bureau hires people, trains them, then lays them off. A few days later, they hire them again, thus a "new" job is created.

    The unemployment rate dropped to 9.7% last month, so I'm sure the Obama administration will be crowing about the tiny drop, while forgetting to mention that most is due to government hiring. Private sector employment is still in the toilet.
    My company only plans to hire temp workers this year to avoid additional paperwork hassles.
    When the busy season is over they will probably be let go.

    Looking forward, I don't think they will hire permanent employees, unless 1 gets fired or quits, because of future regulatory requirements.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Job growth disappoints on weak private sector hiring

    Quote Originally Posted by Harry Guerrilla View Post
    My company only plans to hire temp workers this year to avoid additional paperwork hassles.
    When the busy season is over they will probably be let go.

    Looking forward, I don't think they will hire permanent employees, unless 1 gets fired or quits, because of future regulatory requirements.
    Yep, and we will see more and more temporary workers and contract workers when health care reform kicks in.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Job growth disappoints on weak private sector hiring

    Quote Originally Posted by Gill View Post
    Yep, and we will see more and more temporary workers and contract workers when health care reform kicks in.
    My company is contemplating eliminating healthcare benefits altogether and just paying the fine, which is a LOT cheaper under Obama's plan.

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    Re: Job growth disappoints on weak private sector hiring

    Quote Originally Posted by Erod View Post
    My company is contemplating eliminating healthcare benefits altogether and just paying the fine, which is a LOT cheaper under Obama's plan.
    I have a funny feeling that thousands of companies are going to do the exact same thing. When individuals that don't have insurance now find out how much insurance is going to cost them, whether they want it or not, the cost to the rest of us will skyrocket. The whole health care reform bill relies on high participation.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Job growth disappoints on weak private sector hiring

    And down goes the Dow to close the week under 10,000. Do we have another crash coming? This thing just can't get any footing.

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    Re: Job growth disappoints on weak private sector hiring

    a full FOUR HUNDRED AND ELEVEN THOUSAND were census workers, according to labor

    Hiring weak in May except for Census workers - MarketWatch

    that's DEVASTATING

    and yes, there are now THREE whistle-blowing head-counters who are claiming they've been hired, fired, rehired, refired...

    RealClearPolitics - Video - Census Worker Claims Job Numbers Are Being Inflated

    with each new signing on accounted as ANOTHER NEW JOB

    (that's a lot like the way the STIMULUS was accounted, remember?)

    this crew in dc is completely corrupt and incompetent

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    Re: Job growth disappoints on weak private sector hiring

    What? This can't be right!

    Earlier this Spring I was rebuked by all the Obammites for not offering up my first born in gratitude over a meager 162,000 job gain. Dare I put myself in the line of fire again in claiming "ho hum" to a gain of 430,000? I wish I had saved some of the headlines from this morning claiming "strong" job growth - reuters in particular. It's difficult to stick with the adminstration's narrative with the dow plummeting 325 points.

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    Re: Job growth disappoints on weak private sector hiring

    Quote Originally Posted by Erod View Post
    My company is contemplating eliminating healthcare benefits altogether and just paying the fine, which is a LOT cheaper under Obama's plan.
    Quote Originally Posted by Gill View Post
    I have a funny feeling that thousands of companies are going to do the exact same thing. When individuals that don't have insurance now find out how much insurance is going to cost them, whether they want it or not, the cost to the rest of us will skyrocket. The whole health care reform bill relies on high participation.
    the cons are characteristically clairvoyant

    Four companies mulled dropping health insurance plans - Jennifer Haberkorn - POLITICO.com

    at&t accountants, for instance, reckon they can recoup 75% of their health care costs by DUMPING their employees

    live it, libs, love it, IT'S YOURS!

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    Re: Job growth disappoints on weak private sector hiring

    Quote Originally Posted by Erod View Post
    My company is contemplating eliminating healthcare benefits altogether and just paying the fine, which is a LOT cheaper under Obama's plan.
    Why don't they drop your healthcare now? It's even cheaper right now because there's no fine.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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