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Thread: Private sector sheds 39,000 jobs in September

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    Private sector sheds 39,000 jobs in September

    Wreckovery Summer goes into Wreckovery Fall. It's going to be a bad ass winter for alotta folks.

    NEW YORK (Reuters) - Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.

    Private sector sheds 39,000 jobs in September - Yahoo! Finance
    Why does the Libbo media insist on saying, "unexpectedly"?
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    Re: Private sector sheds 39,000 jobs in September

    How many did they add?

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    Re: Private sector sheds 39,000 jobs in September

    Quote Originally Posted by hazlnut View Post
    How many did they add?
    Well, if we lost 39,000, thenh obviously none were added. If we added jobs, then the headline would read, "X# of jobs added in September".
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    Re: Private sector sheds 39,000 jobs in September

    Impressive apdst... you do know the jobs report is out TOMORROW first right?
    PeteEU

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    Re: Private sector sheds 39,000 jobs in September

    Quote Originally Posted by PeteEU View Post
    Impressive apdst... you do know the jobs report is out TOMORROW first right?


    You know that Gallup estimates the unemployment rate for September to be 10.1%, right?
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    Re: Private sector sheds 39,000 jobs in September

    Quote Originally Posted by apdst View Post
    You know that Gallup estimates the unemployment rate for September to be 10.1%, right?
    And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
    PeteEU

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    Re: Private sector sheds 39,000 jobs in September

    Quote Originally Posted by PeteEU View Post
    And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
    News Headlines

    The U.S. economy unexpectedly shed jobs in September for a fourth straight month as government payrolls fell and private hiring was less than expected, hardening expectations of further Federal Reserve action to spur the recovery.

    Nonfarm payrolls dropped 95,000, the Labor Department said on Friday. Private employment, a better gauge of labor market health, increased 64,000 after rising 93,000 in August. A total of 77,000 temporary jobs for the decennial census were terminated last month.

    Any gain in the next couple months will be temporary jobs for the holiday season not full time jobs
    Last edited by ptif219; 10-08-10 at 10:35 AM.

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    Re: Private sector sheds 39,000 jobs in September

    Golden Quarter is going to be an interesting ride.
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: Private sector sheds 39,000 jobs in September

    Quote Originally Posted by hazlnut View Post
    How many did they add?
    Private businesses added 64,000 workers in September. It marked the ninth straight month the private sector added jobs, but was a slowdown from the previous two months.

    September jobs report: Payrolls down, unemployment unchanged - Oct. 8, 2010

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Private sector sheds 39,000 jobs in September

    Quote Originally Posted by PeteEU View Post
    And you know that the official number is 9.6% and that the private sector gained 66000 new jobs last month right?
    ...which is precisely what Gallup predicted:
    The government's final unemployment report before the midterm elections is based on job market conditions around mid-September. Gallup's modeling of the unemployment rate is consistent with Tuesday's ADP report of a decline of 39,000 private-sector jobs, and indicates that the government's national unemployment rate in September will be in the 9.6% to 9.8% range. This is based on Gallup's mid-September measurements and the continuing decline Gallup is seeing in the U.S. workforce during 2010.
    Gallup suggest that newer data provide a more bleak picture:
    However, Gallup's monitoring of job market conditions suggests that there was a sharp increase in the unemployment rate during the last couple of weeks of September. It could be that the anticipated slowdown of the overall economy has potential employers even more cautious about hiring. Some of the increase could also be seasonal or temporary.
    In this regard, it is essential that the Federal Reserve and other policymakers not be misled by Friday's jobs numbers. The jobs picture could be deteriorating more rapidly than the government's job release suggests.

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