Job reports paint a brighter picture

[RamboLiberal]

Source: CNN

Three separate jobs reports released Wednesday signaled that the nation's employment picture may finally be brightening, and hinted at solid growth in the government report due later in the week.

Private-sector employers added jobs in April for the third consecutive month, according to a report from Automatic Data Processing (ADP).

Outplacement firm Challenger, Gray and Christmas said planned job cuts dropped to the lowest level in nearly four years in April. And TrimTabs Investment Research said the nation added 262,000 jobs in April, boosted by government-hired Census workers not included in the ADP report.

The reports came two days ahead of the Labor Department's monthly jobs figures. The April data are expected to show a gain of 187,000 jobs, compared to an increase of 162,000 jobs in March, with the unemployment rate holding at 9.7%


Read more: http://money.cnn.com/2010/05/05/news/economy/job_cuts_challenger/index.htm?hpt=T2

[NJmaverick]

1. K & R! for some good news

[Larkspur]

2. The company I work at recently laid off a few people and more layoffs are coming

so I'm still pessimistic about jobs.

[MidwestTransplant]

3. Here's one person's response:

[Cant trust em]

4. That's nice to hear.

It's going to be a while before the economy really starts picking up steam again, but this has been a steep downturn.

[Dappleganger]

5. It's hard to believe this when you're still not employed and in the middle

of such desperate economic times, but hopefully we will see more and more improvement like this over the next six months.

[fasttense]

6. How the heck do you hint at solid growth?

Some really bad writing here. There is a hint of an upcoming market crash too but no one's writing about that.

[TomCADem]

7. Job reports paint a brighter picture

Source: CNN

NEW YORK (CNNMoney.com) -- Three separate jobs reports released Wednesday signaled that the nation's employment picture may finally be brightening, and hinted that a government report due at week's end could show strong gains.

Private-sector employers added jobs in April for the third consecutive month, according to Automatic Data Processing (ADP).

Outplacement firm Challenger, Gray and Christmas said planned job cuts in April dropped to the lowest level in nearly four years.

And TrimTabs Investment Research said the nation added 262,000 jobs in April, boosted by government Census workers not included in the ADP report.

Read more: http://money.cnn.com/2010/05/05/news/economy/job_cuts_challenger/?postversion=2010050513

---

Ironically, despite the corporate media recitation of right wing talking points, private sector jobs are growing while state and local governments are still shedding jobs due to decreased tax receipts from the prior year.

[UndertheOcean]

8. oh no , good news , DU will IMPLODE ...

[msongs]

9. "...working at the car wash yeah..." lol - beats the old exec jobs any day nt

[ipaint]

10. The trimtabs number includes 200,000 census jobs. nt

[Skittles]

12. whatever, it is still work

I am welcoming any good news - really, ANY good news

[Tarheel_Dem]

11. kick for good news. (nt)

[harry_pothead]

13. K&R this country needs this.

[ClarkUSA]

14. Great news. The lagging indicator is finally starting to catch up.

Millions of jobs lost under BushCo won't reappear overnight, but at this pace the nation might able to go down to "normal" unemployment numbers of 5.5%-6% in a couple of years.

[Dr.Phool]

15. First of all, ADP is ALWAYS wrong. They haven't been close for 3 years, at least.

Challenger, Gray and Christmas is more accurate, but they're still reporting cuts.

Trim Tabs, I'm not familiar with.

New and continuous claims, and DOL will be released tomorrow.

[jtuck004]

16. I do wish CNN and the others would be a little less effusive in their reporting...

Strong gains? As I read in an article in the Atlantic today, we are living through a "slow-motion social catastrophe"*.

Trimtabs claim to fame is their ongoing bashing of the BLS numbers. (You can get a "free" trial subscription on their site). Not that they are wrong, but it's like a ringing in the ears you can't get rid of. The real point is that firms and the gove use different methodologies, whether it is BLS, Gallup, Trimtab, or ADP, and you need to read a bit to know what you are looking at.

Won't know for sure until Friday, but if the projection is close the Census probably accounted for at least 130 to 150,000 jobs which are full-time temp and will be gone by summer. That leaves us with perhaps 30-50,000 full-time jobs, somewhat short of the 125,000/month or thereabouts we need to stay even, and not even a drop in the bucket putting the 20+ million we need back to work. And if you take out those which are provided by other's salaries, (health care, service, governmment) it's much worse. We really need 300,000 per month, full-time, nonfarm jobs, (preferrably not in hotels or car washes) to get ahead, and even then it will take years. And as was noted above, state and city govs are still shedding people, and if this doesn't pick up, even more shedding is coming.

At this rate we could be at 12% average unemployment in a year or two. Scary. And that is a with a friendly administration. We get one that thinks tax breaks are the way to go and the 20-30% unemployment rate among households making $20,000 or less could get even worse (doesn't count the underemployed). (Course, if your household income is over $150K, the unemployment is only 3% or so).

I would really like to see people understand we need some real innovation, some understanding of how we are undercutting ourselves, and perhaps a dose of cooperation and fellowship?

*http://www.theatlantic.com/magazine/print/2010/03/how-a-new-jobless-era-will-transform-america/7919

[fishwax]

17. here's hoping

:bounce: