ADP Says Private Sector Shrinks by 697,000 Jobs. Job Losses Are 'Broad and Deep.' (story developing)

CNBC ^ | 3/5/2009 | CNBC

[Red in Blue PA]

Banner Headline only.

[originalbuckeye]

And Bush will be blamed. 0bama and Big Media will lie until the public is totally indentured to the GOVERNMENT. Then it will be very difficult to take back our country.

[Uncle Ike]

I’m suffering an attack of acronym burnout —

ADP????

[TCats]

I think ADP might have finally gotten it right this time. Their Employment Report is notoriously wrong in underreporting Unemployment. Will wait for the Commerce Dept. reports to confirm.

[TCats]

Automatic Data Processing - The largest automated payroll processing company in the US.

[TCats]

Automatic = Automated

[Uncle Ike]

Thanks.... ;~)

[Moorka]

ADP = Aid to Dependant Politicians

[nhwingut]

This is on zero’s watch. He can’t spin it.

As a small business owner I have laid off 3 people since election. Cut down production.

Businesses are bunkering down, and cutting losses.

Big gubmint will not help this economy.

[wolfpat]

Don’t worry. No matter what your profession is, under the stimulus package you can get a job in construction building bridges and roads. /sarc

[familyop]

Nearly all of the Chinese indexes are up over 6% at this time. An effort to drive foreign product and freight fuel prices down did get out of hand.

[RabidBartender]

Secretary Tax Cheat commented again yesterday about how this economy was “inherited”.

[familyop]

...stock indexes, that is.

[central_va]

Not to worry, I am sure they will increase the H1-B quotas this year.

[Red in Blue PA]

ADP Employer Services said private sector employment decreased by 697,000 in February, the largest on record for the firm, underscoring job weakness in the economy.

CNBC.com

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The number comes ahead of Friday’s nonfarm payroll report expected to show continued weakness in the US labor market. ADP also revised its January job-loss number to 614,000, compared to the 522,000 originally reported.

Small businesses were especially hard-hit, the firm said, with 262,000 workers leaving businesses with fewer than 50 employees.

[1rudeboy]

Ping me if you have something intelligent to say, troll. Or go back to the thread where you are being schooled.

[Red in Blue PA]

.....or wind turbines!

They’re the future, doncha know? /s

[scooby321]

Turbo Tax Tim - Businesses hire for the future. Markets trade for the future not the past or present conditions. Please Come clean on AIG.

[bvw]

The DJI futures were plus 120+ earlier in the AM, now they are plus 80, I’d guess they will go flat and the market today will dither at yesterday’s close and then sag. FWTW, JMO.

[Need4Truth]

Small businesses were especially hard-hit, the firm said, with 262,000 workers leaving businesses with fewer than 50 employees.

Nothing in the Obama/Democrat porkulus/welfare bill to help small business. It really is a shame the Democrats put party and government over country at a time like this.