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WASHINGTON - U.S. private employers stepped up hiring in June and the number of Americans filing new claims for jobless benefits last week fell by the most in two months, hopeful signs for the struggling labor market.
But dark clouds continue to gather over the U.S. economy, with growth in the vast services sector crawling to its slowest in nearly 2-1/2 years in June and retailers reporting sales below expectations, other data showed on Thursday.
The economy has been hit by turbulence from Europe's debt crisis and fears of tax increases at home next year, undermining confidence among businesses and ordinary Americans.
"In terms of employment, they suggest some improvement in the labor market performance relative to the month before, but nonetheless show economic activity is weakening," said Millan Mulraine, senior macro strategist at TD Securities in New York.
Private employers added 176,000 new workers to their payrolls last month, the ADP National Employment Report showed, after increasing 136,000 in May. The government will release its closely watched employment report for June on Friday.
I bet more than half of these are summer jobs. Around September or October, new job reports would be lower.
We need at least 500,000+ per month to make any real recovery. Remember kids graduating high school need to get their foots in the door, and I don't think telling them to live in their parents basement forever is a real solution.
We need at least 500,000+ per month to make any real recovery. Remember kids graduating high school need to get their foots in the door, and I don't think telling them to live in their parents basement forever is a real solution.
Sure it is! Remember, working 10 hours a week at minimum wage now counts as "employed" and flipping burgers now counts as "manufacturing!" When the problem can't - or won't - be fixed, move the goalposts and redefine the terms involved! War is Peace, Ignorance is Strength, and Freedom is Slavery... and Poverty is a Recovery!
Remember kids graduating high school need to get their foots in the door, and I don't think telling them to live in their parents basement forever is a real solution.
No, we'll send 20% into the military, and the rest will go to crappy colleges to do finger painting and such. That will temporarily hide the fact that the economy is completely broken and has no place for all these excessive labor units. No biggie, that will be someone elses problem when they actually start to hit the labor market. Let's keep our fingers crossed that the problems will magically disappear by than
Better yet, lets just go ahead and kick start that plan for socialism and WW3. All hail Führer Obama!
Andy college has been a holding pen for years now. It knocks 1 to 2% off the labor rate otherwise millions more would be looking for work. Tons of kids go to grad school and hide out they hope the economy will improve . The biggest college class ever started in 2008. It was 2.8 million kids they will done this year or next year where are they going to work. I will tell you nowhere because their is no 2 to 3 million new jobs. We are reaching a point where people are not needed they are excessive labor units. The government can not afford to have millions of unemployed young people in the streets. This would cause social unrest. They have to give them something to do. College now plays that role never mind it will bury them in debt. I am no Obama fan I am a Republican myself. But sadly the Republicans have no idea what their doing as well. And there is no way they are going to address any real problems. All they will do is window dressing at best. They will not fix any structural issues it would cut into their cash flow. And they are going to keep Wall Street and the banks happy no matter what.
. I am no Obama fan I am a Republican myself. But sadly the Republicans have no idea what their doing as well. And there is no way they are going to address any real problems.
Only the private sector can improve our situation. .
Bob the private sector will not do a thing. Here is why there is no demand has not been any in years. The thing is their is not going to be. We have to much debt credit cards student loans car notes house notes the list goes on. Not to be undone the banks business and the government are in debt up to their eyeballs. We are looking at lower growth rates for years to come. It most likely will take 10 to 15 years to dig ourselves out of this mess. We do not need more labor business can get by with even less workers. And like I have pointed out before we are going to need less less workers in future.
collegeguy35, OBooBoo showed what happens with an anti capitalism admin. 2 trillion extra cash hoarded since 1/20/2009. Imagine the millions of jobs if even 1/2 were invested. The first choice of business is not to hoard, but to invest. Only a radical regime could convince them hoarding was the prudent M.O.
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