Posted on 05/03/2009 7:00:37 PM PDT by TigerLikesRooster
Another steep drop in payrolls expected in April
580,000 lost jobs would be the least bad in six months
By Rex Nutting, MarketWatch
Last update: 10:13 a.m. EDT May 3, 2009
WASHINGTON (MarketWatch) - U.S. workers lost jobs at a devastating rate again in April, but the expected loss of 580,000 would be least bad since October, economists said. Compared with what the economy has just seen, 580,000 lost jobs might look good. But in absolute terms, it'd be horrible. Aside from the current recession, it would be in percentage terms the eighth worst month for job losses in the past 50 years.
Meanwhile, according to economists surveyed by MarketWatch, the unemployment rate is expected to rise another half percentage point to a 26-year high of 9% with little end in sight.
The April employment report will be the highlight of a week that's relatively light for economic data. The jobs numbers will be released at 8:30 a.m. on Friday.
(Excerpt) Read more at marketwatch.com ...
Trying very hard to give it a positive spin. I guess Obama faithful are also under severe 'stress test.'
Ping!
What the hell did these MSM fools expect with a radical socialist and pandering Congress? Economic boom??? Hardly.
A lot of people are waiting for their unicorns as promised by Dear Leader.
I don’t care if they went down a little bit or not. These are on top of all the others, so these are AFTER all of the vulnerable people have been laid off and there are still more being piled on top of them. No way would an unbiased observer glean any hope out of this data.
Just think of the tax revenue Uncle Sam is losing!!
July is going to be very bad.
Just wait til all the layoffs from Chrysler suppliers hit in May, and then all the people laid off from jobs that are funded by those supplier workers (everything from restaurant workers to retailers to you-name-it) in June. I have faith in the free market but this will be rocky, and the government seems determined to foul it up as much as it can.
For Obama, I hope the July 4th tea parties are very bad, indeed!
There's going to be hell to pay.
Major corporations are re-adjusting qtr to qtr. It’s going to get ugly.
Unfortunately, the free market is being subverted and has nothing to do with this debacle.
My prediction....15% unemployment by years end.....75% of my husband’s group was laid off first of May....and these are engineers and other professionals....some administrative....
What exactly did they expect with Obama’s polices? We will be lucky if we aren’t at 20% unemployment sometime nxt year.
You aren’t kidding. With GM plants going down for 9 weeks instead of two and with Chysler’s problems the numbers in the summer will be very bad.
Is that like, madam I got good news, when your husband jumped from the building, it was from the 10th floor and not the 16th floor. He hit the street with less impact.
“. No way would an unbiased observer glean any hope out of this data.”
I heard a member of the Obama media say today that the people left after the job losses are being given more work/hours to do the work of those who have been cut, and those lucky b*stards are doing real well in this economy...they’ll spin anything.
Tax revenues have to be falling off the cliff. They’ll just print more money. Fools.
Now you know why the Acorn census folks are going round making GPS tags for every front door in the nation.
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