Wednesday, August 31, 2011

Unexpected: Private Sector Job Creation Slows

Well, it's only unexpected if your a media lapdog desperate to prop up the failed president and his clueless party.
The private sector created 91,000 jobs from July to August, a shade below expectations, according to a report from ADP that sets the stage for a likely weak report on nonfarm jobs the government will release Friday.

ADP and Macroeconomic Advisors said service-sector jobs rose 80,000, down from an average increase of 115,000 over the past two months, while the goods-producing sector saw a gain of just 11,000.

Consensus estimates are that the government will show the economy created about 80,000 jobs overall in August—including the public sector—though some economists say the report actually could show a loss of jobs.
Actually, according to that last link, it could well show an overall job loss for August, which Obama will just blame on Hurricane Irene, Libya, the Arab Spring, the Japan tsunami and the pending deportation of his Uncle Omar.

Speaking of job loss, June's unexpectedly bad numbers were unexpectedly revised downward.
The ADP report showed that June's estimate of 114,000 jobs created was revised down to 109,000.

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