Number of New Layoffs Drop Dramatically in April (unemployment, Congress, March)

[LordBalfor]

"ADP said private employers cut 491,000 jobs in April versus a revised 708,000 lost in March that was originally reported at 742,000 jobs lost.

Economists had expected 650,000 private-sector job cuts in April, according to a Reuters poll. "

This is the 3rd month in a row where the number of job cuts have dropped.
Clearly this is still WAY too many new layoffs - but (like with many other indicators in the last couple of months) it's starting to look more and more like we're at or near the bottom of the recession.

Still lots of concerns with the banks of course, but little by little things look like they may be smoothing out.

Wall Street aims higher after private jobs data - Stocks & economy- msnbc.com

Ken

[sanrene]

This is the 3rd month in a row where the number of job cuts have dropped.

Ah, the old smoke and mirrors ploy.

Only in DC/liberal speak can you claim a "drop" from a projection.

1/2 million jobs were lost - there is no good news in that.

[Houston3]

I'll bet those 491,000 are jumping with joy to hear the number is down!

[LordBalfor]

Originally Posted by Houston3

I'll bet those 491,000 are jumping with joy to hear the number is down!

Would you prefer it be the 650,000 that economists had expected?
How about the 708,000 lost in March?

Hey, we came into the year in a major recession.
That's the reality of the situation.
But - the recession won't last forever.


Ken

[pghquest]

Originally Posted by LordBalfor

Hey, we came into the year in a major recession.
That's the reality of the situation.
But - the recession won't last forever.

We came into the year hopefully on the bottom of an economic cycle that ALWAYS go up..

Leads us to question, if the recession is slowing down and turning into a recovery WITHOUT a governmental stimulus, is it, or has it ever been needed?

[LordBalfor]

Originally Posted by pghquest

We came into the year hopefully on the bottom of an economic cycle that ALWAYS go up..

Leads us to question, if the recession is slowing down and turning into a recovery WITHOUT a governmental stimulus, is it, or has it ever been needed?

Yes, it was and is needed.
It may very well make the difference between "bouncing along on the bottom" and a true recovery.

Ken

[sanrene]

Except that the stimulus was really not a stimulus at all.

Since most of the money is spent in 2011 and beyond, it really can't be classified as stimulus.

[pghquest]

Originally Posted by LordBalfor

Yes, it was and is needed.
It may very well make the difference between "bouncing along on the bottom" and a true recovery.

Ken

They havent spent the "recovery" money yet, and we're recovering just fine. If you artificially create an artificial bump, your creating a future fall, its the way it is..

[AeroGuyDC]

Bernanke told Congress yesterday that he expects the recession to bottom out by the end of the year, but current unemployment percentages would continue well into 2010.

[Houston3]

Originally Posted by LordBalfor

Would you prefer it be the 650,000 that economists had expected?
How about the 708,000 lost in March?

Hey, we came into the year in a major recession.
That's the reality of the situation.
But - the recession won't last forever.


Ken

Saying a recession will end this year or next year is nothing more than a guess.

All of the "expected" numbers are nothing but guess work...

Business can only cut so many jobs without having to close it's doors. And that is all that happened.

One or two months does not make a trend.