Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: SeachRE who wrote (151347)	1/7/2009 3:42:08 PM
From: geode00	1 Recommendation Read Replies (1) \| Respond to of 173976

ADP shows 693,000 jobs lost in December Private-sector payrolls drop adds to signficance of Friday employment report By Rex Nutting, MarketWatch Last update: 10:03 a.m. EST Jan. 7, 2009 WASHINGTON (MarketWatch) -- U.S. private-sector firms shed 693,000 jobs in December, far worse than expected, according to the ADP employment index released Wednesday. The report paints "a shockingly weak picture of the labor market," said John Ryding and Conrad DeQuadros, economists at RDQ Economics. The nation's labor market is on track for the largest quarterly decline since 1945, they said. The methodology for the ADP index has been revised with the aim of making it a better fit with pivotal government figures to be released on Friday. Economists currently expect nonfarm payrolls to have fallen by 500,000 in December, although several economists updated their projections following the ADP release. See Economic Calendar. "We await Friday with trepidation," wrote Ian Shepherdson, chief domestic economist for High Frequency Economics. He said to expect that nonfarm payrolls contracted by about 700,000, which would be the biggest drop in 59 years..... ================= IIRC Bush was up 5 million or so jobs in his two terms but that was before the 2 million in losses and now, maybe, a cherry on the cake of another 500K+ losses. Could it end up that the 'party of business and the first MBA President' will end up with a job creation record less than 1/10th that of Clinton? Progressives (even those as unprogressive as Clinton LOL) are better for the economy, the stock market and businesses of all sorts. That Intel revenue slide is stunning.