More Jobs Lost.....

[Patranus]

March 31 (Bloomberg) -- Companies in the U.S. unexpectedly cut payrolls in March, according to data from a private report based on payrolls.

The 23,000 decline was the smallest in two years and followed a revised 24,000 drop the prior month, data from ADP Employer Services showed today. Over the previous six months, ADP’s initial figures have overstated the Labor Department’s first estimate of private payroll losses by as little as 2,000 in February to as much as 151,000 in November.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSfp5pL7BSTM&pos=2

cook the books much?

 

[werepossum]

The nature of good news has declined precipitately during the Obama presidency. LOL

 

[JSt0rm]

If only a republican were in power...

 

[MovingTarget]

If only a republican were in power...

I can't tell if you are being dead serious or if this statement was tongue-in-cheek.

 

[JSt0rm]

I can't tell if you are being dead serious or if this statement was tongue-in-cheek.

hahahah

 

[Carmen813]

Umm....I can't figure out why the OP bolded what he did. That basically means that ADP has overestimated job losses, and that in reality they haven't been that bad.

Or am I reading this incorrectly?

 

[werepossum]

Umm....I can't figure out why the OP bolded what he did. That basically means that ADP has overestimated job losses, and that in reality they haven't been that bad.

Or am I reading this incorrectly?

That's the way I took it. No biggy for me either way, these things are always estimates. The IRS's mainframes could probably give you a better answer - a few years later.

 

[Fern]

Umm....I can't figure out why the OP bolded what he did. That basically means that ADP has overestimated job losses, and that in reality they haven't been that bad.

Or am I reading this incorrectly?

ADP is the nation's largest payroll preparation firm (cuts checks, does Form 941 etc for other companies).

I suspect their numbers are highly accurate, they know how many people their clients employ. But they don't do every payroll in the nation. E.g., they do no government payroll, so if the gov hired people, and due to the census I'd guess they did, then that won't be reflected in ADP's numbers.

(And that's a crappily written sentance in the article.)

Fern

 

[GaryJohnson]

That's the way I took it. No biggy for me either way, these things are always estimates. The IRS's mainframes could probably give you a better answer - a few years later.

Everybody knows the IRS doesn't use computers.

 

[MovingTarget]

Everybody knows the IRS doesn't use computers.

Haha. I wish. Every year after doing my taxes I get their letter stating:

"Have you heard of efile yet? Have you tried efile? E-file is great and full of kittens and rainbows. Have we mentioned that we offer E-file yet? You should E-file, or next time we will consider killing a puppy. Seriously, we'll do it this time. So in conclusion, please E-file your return.

XOXO, the IRS."

No, I will not e-file if I have to go through a corporate third party. My taxes are between me and the IRS only, nobody else. They have computers, but probably only for the E-file system and extreme solitaire tounaments.

 

[Jhhnn]

There are consequences to the biggest republican sponsored looting spree in the history of finance, and we're living them, will be for some time to come.

But it must be Obama's fault- after all, he drove into town right after the tornado left, while things were still falling down...

 

[werepossum]

Everybody knows the IRS doesn't use computers.

Haha. I wish. Every year after doing my taxes I get their letter stating:

No, I will not e-file if I have to go through a corporate third party. My taxes are between me and the IRS only, nobody else. They have computers, but probably only for the E-file system and extreme solitaire tounaments.

LOL guys. (Can you even play Solitaire on a DEC?) But surely they must have SOME computers, if only to keep track of their shotguns and jackboots.

Oh wait, it's government - why track them when they can just buy new ones?

 

[shira]

The OP is brain dead:

From the story:

“The labor market trend is still up,” said David Milleker, chief economist at Union Investment GmbH in Frankfurt, who was the only economist in a Bloomberg News survey to forecast the ADP figures would show a loss of jobs. “Today’s numbers might have disappointed relative to expectations but indicate not in the least a change in trend. It takes some more time for private sector job creation to return to normal.”

In other words, although economists anticipated that the March ADP figures would show a job GAIN, the actual loss figures represent an UPWARD labor trend, since the losses were the least in two years.

OP apparently can't read.

 

[werepossum]

The OP is brain dead:

From the story:



In other words, although economists anticipated that the March ADP figures would show a job GAIN, the actual loss figures represent an UPWARD labor trend, since the losses were the least in two years.

OP apparently can't read.

An upward labor trend would result in a net gain of jobs; this is merely a continuing decrease in the rate of the DOWNWARD labor trend.

 

[shira]

An upward labor trend would result in a net gain of jobs; this is merely a continuing decrease in the rate of the DOWNWARD labor trend.

The rate of job losses is slowing down. That's a positive sign. Don't take my word for it; read the article.

Edit: Let me make this really clear for you by analogy:

There were 273 combat-related deaths of American soldiers in Afghanistan in 2009. If 100 were to die in all of 2010 despite the increase in operations, will you maintain that that's not a positive trend?

If the federal budget deficit goes down to $200 billion in 2015, $100 billion in 2018, and $50 billion in 2020, will you insist that that's not an positive trend?

 

[Fern]

The OP is brain dead:

From the story:

“The labor market trend is still up,” said David Milleker, chief economist at Union Investment GmbH in Frankfurt, who was the only economist in a Bloomberg News survey to forecast the ADP figures would show a loss of jobs. “Today’s numbers might have disappointed relative to expectations but indicate not in the least a change in trend. It takes some more time for private sector job creation to return to normal.”

In other words, although economists anticipated that the March ADP figures would show a job GAIN, the actual loss figures represent an UPWARD labor trend, since the losses were the least in two years.

OP apparently can't read.

How the heck is the OP brain dead?

The article says more job losses.

Yeah, I read the blurb you quoted. Figures you'd find a blurb full of spin and quote it. Contrary to what that guy claims there's no damn change in trend. FFS job losses peaked 6 months and since then the trend has been losing fewer jobs. So another month where fewer jobs were lost, again, somehow constitutes anything other than a continuing trend? How the heck is that?

Fern

 

[StageLeft]

It's ok. This is a jobless recovery, you don't really need a job so stop fretting, it will be all ok. The dow is up that should be good enough for you!

 

[MotF Bane]

If only a republican were in power...

It might genuinely be better. A Republican President, a Democrat Congress... then the government doesn't do so much. :awe:

 

[boomerang]

It might genuinely be better. A Republican President, a Democrat Congress... then the government doesn't do so much. :awe:

Gridlock, how do I love thee? Let me count the ways.

A few more social programs shoehorned into place and the majority won't need jobs anyway. We'll be livin' large off the evil rich. That's what I'm talkin' about!

 

[Jhhnn]

It's ok. This is a jobless recovery, you don't really need a job so stop fretting, it will be all ok. The dow is up that should be good enough for you!

Yep, just like the last recovery, only more so....

The Dow is up, Bankers are still getting their bonuses and profits from offshored industries are comin' in like gangbusters, Defense contractors are knockin' down big bucks because of Iraq and Afghanistan, so it's all good at the top of the foodchain, and that's all that really matters...

It'll "trickledown" to the rest of us RSN, honest, so, uhh, just wait for it, OK?

 

[Zorkorist]

What, exactly are you waiting to trickle down, when the Government is sucking it up?

-John

 

[nonlnear]

What, exactly are you waiting to trickle down, when the Government is sucking it up?

You are so very close to answering your own question... another extension in unemployment benefits!

 

[Zorkorist]

Trickle down economics works, when the Government gets the fuck out of the way.

-John

 

[HomerJS]

I'm continually amazed by the people boiling mad at Obama for not fixing in a year what it took Bush 8 years to fuck up.

 

[Zorkorist]

Trickle down economics?

I'm pretty sure Clinton fucked it up first.

-John