Posted on 01/07/2009 8:53:05 PM PST by Doofer
NEW YORK (Reuters) – Private-sector employers shed 693,000 jobs in December, a private employment service said on Wednesday in a report that was far worse than expected and pointed to more ugly news from the government's jobs data due later this week.
The drop, much bigger than the revised 476,000 private sector jobs lost in November, is consistent with about a 670,000 fall in December non-farm payrolls, said Joel Prakken, chairman of Macroeconomic Advisers LLC, which jointly develops the private sector employment report with ADP Employer Services.
On Friday the government will release its non-farm payrolls report, considered the most authoritative gauge of the U.S. labor market.
(Excerpt) Read more at news.yahoo.com ...
I agree I think also we should encourage savings and tax interest on debt.
Minimum wage increase to $6.55.
Except in Guam, where San Francisco-based Starkist Tuna employs a lot of people. Say, who’s the U.S. Representative of San Francisco?
ALCOA is also slashing its workforce. My 60 year old brother-in-law does IT at their Port LaVaca TX plant. He’s worried, and should be. Layoffs there started last year, and now it looks like they are accelerating.
How many public sector (aka government) jobs were cut?
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