ADP data on private sector employment was disappointing and pointed to a potential weak national joblessness announcement on Friday.
Posts Tagged private-sector
From NFIB: Small Business Optimism Increases But Not Enough to Spur Hiring, Capital Spending The National Federation of Independent Business Index of Small Business Optimism gained 1.6 points in May with a reading of 92.2. Although not a strong sign of recovery , it is headed in the right direction. It is the best reading since September 2008’s 92.9 index that occurred just before the five-point decline in October that started the rapid deterioration in the fourth quarter of 2008
The problem with state and private sector pensions has grown since the beginning of the recession for the same reason that Social Security is troubled: the population is aging and the slow economy and unemployment are pushing down contributions into the funds. The state pension issue could led to a $1 trillion hole within 15 [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
The consensus estimate among economists is that the BLS will say that the US added 140,000 net new jobs in March. That could bring the unemployment rate down by a tenth of a percent. Most experts expect some of that to come from jobs added by the federal government to handle the Census
Congress and the Administration put a $787 billion stimulus package into place on the assumption that its many programs will supply capital to strategically important industries. The ultimate goal was to increase employment within the private sector. Infrastructure, energy grid, and broadband are among the sectors which are receiving extraordinary sums from the government and [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
There has been a heated argument for the last several years about when the world will start to run out of oil. The rate of oil production, after more than a century of drilling, may have already peaked or it may peak in a decade
From Bloomberg: New York Income Tax Revenue Falls 36% in Year, Paterson Says (ht Mike In Long Island) New York State’s income tax revenue has dropped 36 percent from the same period in 2008 … “We added personal income tax, which we thought would make the falloff 10 percent to 15 percent,” Paterson … referring to $5.2 billion in new or increased taxes.
From Rex Nutting at MarketWatch: Lost decade for job growth [T]he private sector didn’t just lose jobs over the last month or the last year — it’s lost jobs over the last decade. [The private sector] ended up with a net loss of 223,000 jobs since August 1999, according to the latest figures from the Bureau of Labor Statistics. Meanwhile, the nation’s population has grown by 33.5 million people
