[Sixstrings]

NEW YORK (Reuters) - Job losses in the U.S. private sector accelerated in March, more than economists' expectations, according to a report by ADP Employer Services on Wednesday.

Private employers cut jobs by a record 742,000 in March versus a 706,000 revised cut in February that was originally reported at 697,000 jobs, said ADP, which has been carrying out the survey since 2001.

The big drop foreshadows a huge decline in the non-farm payroll reading in the government's employment report that will be released on Friday, some analysts said.

"It's a terrible number. It is almost a loss of three quarters of a million jobs which is possibly the highest we have seen so far over the length of this crisis," said Matt Esteve, foreign exchange trader with Tempus Consulting in Washington.

http://www.reuters.com/article/newsOne/idUSTRE5303F820090401

[NoWorries]

Yes, but the Dow is up 115+ on this news, as of 5 minutes ago. Not sure what that means.

Does it mean a smaller payroll increases corporate profits? Or is the Dow up for some other reason?

[Sixstrings]

Yes, but the Dow is up 115+ on this news, as of 5 minutes ago. Not sure what that means.

Does it mean a smaller payroll increases corporate profits? Or is the Dow up for some other reason?

Who knows.. perhaps with the trouble in London today, US markets are seen as a safe haven.

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

[JoeW]

Does it mean a smaller payroll increases corporate profits?

When you're talking about just one company, sure. When every company does it, it usually results in less profits for all of them because there are less dollars out there to buy the company's product.

That's the recessionary spiral. That's where we're at. I don't think anyone really knows what (if anything) is in the driver's seat when it comes to the DJIA. The reports from the Department of Labor regarding job losses/increases, wage losses/increases, and average hours worked, are all better indicators of the state of the economy, in my opinion.

[Dreamtwister]

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

That's so true. I'm reminded of something Bono said once (And I'm paraphrasing here):

"In America, when the workers look up from the fields at the manor house, they say 'One day, I'm going to live in a house just like that.'

But in Ireland, when the workers look up from the fields at the manor house, they say 'One day, I'm going to get that bastard.'"

And it's true. Even with the economy hemorrhaging a million jobs per month and troops in the streets, Joe Sixpack STILL thinks he's going to get that brass ring.

[sittinguy]

It means wall street doesen't give a rats ass about main street.

[nobodypanic]

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

That's so true. I'm reminded of something Bono said once (And I'm paraphrasing here):

"In America, when the workers look up from the fields at the manor house, they say 'One day, I'm going to live in a house just like that.'

But in Ireland, when the workers look up from the fields at the manor house, they say 'One day, I'm going to get that bastard.'"

And it's true. Even with the economy hemorrhaging a million jobs per month and troops in the streets, Joe Sixpack STILL thinks he's going to get that brass ring.

that's great. thanks for the laugh.

i suppose i must be irish at heart then.

[Novus]

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

So true. When CAT tried to cut 700 jobs in a French factory the workers barricaded the corporate offices and took the managers physically hostage. In America that would be considered terrorism but in France that this is a fairly common negotiation technique and it works. Totally different worlds. You can't just take someone's livelihood away in the name of corporate profit and not expect some type of revolt. Corporations are only ALLOWED to exist to serve the public good not the other way around. Corporate responsibility is something that is never even talked about in America and it is a real shame.

[Pretorian]

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

So true. When CAT tried to cut 700 jobs in a French factory the workers barricaded the corporate offices and took the managers physically hostage. In America that would be considered terrorism but in France that this is a fairly common negotiation technique and it works.

this is exactly why stocks go up on news like this.

[You can't just take someone's livelihood away in the name of corporate profit and not expect some type of revolt.

Sorry, you are not entitled to your livelihood. Let me check...........No, you aren't.Slavery was abolished in 1860s or so, at least in USA, so, you train is gone. Sorry.

Corporations are only ALLOWED to exist to serve the public good not the other way around.

Really? I wonder who signed your kinder-garden diploma.

[nobodypanic]

Really? I wonder who signed your kinder-garden diploma.

it's really pretty self-evident, if you ask me. what's the point for society if the result is a net negative? the answer is, of course, nothing!

you are suffering from misplaced concreteness.

[EndOfGrowth]

Yes, but the Dow is up 115+ on this news, as of 5 minutes ago. Not sure what that means.

Does it mean a smaller payroll increases corporate profits? Or is the Dow up for some other reason?

Who knows.. perhaps with the trouble in London today, US markets are seen as a safe haven.

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

I had to laugh when I saw some rioter try to set light to the blinds that were flapping about in the busted RBS window with a fag lighter

[Novus]

[You can't just take someone's livelihood away in the name of corporate profit and not expect some type of revolt.

Sorry, you are not entitled to your livelihood. Let me check...........No, you aren't.Slavery was abolished in 1860s or so, at least in USA, so, you train is gone. Sorry.

I am sorry I seem to have forgotten the corporate sponsored slogan. Freedom is slavery and slavery is freedom. Next thing you will be telling me about how War is Peace and Peace is War.

Corporations are only ALLOWED to exist to serve the public good not the other way around.

Really? I wonder who signed your kinder-garden diploma.

I flunked out of obedience school so you shouldn't be associating with the likes of me. Better run along now like a good little doggie I think I hear your master calling.

[Pretorian]

[You can't just take someone's livelihood away in the name of corporate profit and not expect some type of revolt.

Sorry, you are not entitled to your livelihood. Let me check...........No, you aren't.Slavery was abolished in 1860s or so, at least in USA, so, you train is gone. Sorry.

I am sorry I seem to have forgotten the corporate sponsored slogan. Freedom is slavery and slavery is freedom. Next thing you will be telling me about how War is Peace and Peace is War.

So you ARE entitled to your livelihood?

[Bas]

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

So true. When CAT tried to cut 700 jobs in a French factory the workers barricaded the corporate offices and took the managers physically hostage. In America that would be considered terrorism but in France that this is a fairly common negotiation technique and it works. Totally different worlds. You can't just take someone's livelihood away in the name of corporate profit and not expect some type of revolt. Corporations are only ALLOWED to exist to serve the public good not the other way around. Corporate responsibility is something that is never even talked about in America and it is a real shame.

well said.

[gollum]

I think at some point, as unemployment heads into the teens there will be a huge backlash against those seen as responsible for this mess. Personally if I were a bankster I'd cash out and find a different line of work. Revolutions don't start with the poor they start with the middle class and the American middle class is getting pretty pissed.

[deMolay]

Keep in mind those are only the official numbers, those that are officially out of work. Many many more, poor souls have given up, and are not counted anymore. I urge those that have plenty to share when you find someone in need. If they are no threat to you.

[Voice_du_More]

Yes, but the Dow is up 115+ on this news, as of 5 minutes ago. Not sure what that means.

Does it mean a smaller payroll increases corporate profits? Or is the Dow up for some other reason?

Who knows.. perhaps with the trouble in London today, US markets are seen as a safe haven.

One thing about Americans, you'll never see them storming Wall Street, not in a million years.

Americans don't get enough paid time-off for that kind of stuff. The wages are held just stagnate enough that they have to work a little harder each year. Later this year when the wheels come off we'll all stand around asking who in the neighborhood is cavorting with Satan in hopes that we can cleanse our cities and bring God's blessing back with a few well publicized witch burnings.

Was that sacastic---I meant it to be ironic.

I think that the American people will shortly start into a phase of escalating civil disobedience. The sheen has not worn off Obama's fro' yet, and he is (I'm being sincere now) the coolest man on the planet. But as much as I like the talk I don't think anyone can walk in a way so as to avoid what is about to happen. Because what is needed is for oil to suddenly get cheap and stay cheap for another 50 years or so. Even though prices are down, depletion is marching on and that stands as a ceiling over any notion of economic growth and possibly of economic recovery. We are entering a phase where the powerful and rich in rank order are working out survival plans and they do have enough wealth to make it look like somethig is happening for a while. The fact is the statue of gold has begun to crumble and the peasants to grumble, and it won't be long now before America falls, fragmenting into pieces. In those pieces local economies will sprout rather quickly so that some are spared the worst, but don't be around the major cities, people will be eating each other there.

Things are so much worse than anyone is talking about outside the Book of Revelation. I hope someone hears what I just said and takes it to heart.

God bless.

[Voice_du_More]

duplicate deleted

[eastbay]

The one's doing the laying off just don't care. Why should they? They have nothing in common with the workers. CEO behavior was bad enough 40 years ago but today it's just downright obscene.

When the income disparity between average workers and CEO's reaches a certain point expect revolution. I would have thought that breaking point would be quite a bit less than the 262:1 difference we now suffer.

http://www.baltimoresun.com/news/local/ ... 525.column

Just 40 years ago, as the Vietnam Era was getting underway, it was only 24:1, and whiffs of revolution was in the air across The West. What happened? Why are people now timidly accepting this fairly recent immoral inequitability shift?

Back then people protested against war and today people vote for war.

Today we accept a horrifying spread between average workers pay and CEO pay, back then we knew a 24:1 spread was just plain wrong. Today few complain about a 262:1 difference.

Why have people become so supportive of such an oppressive status quo lately? I tell ya, it's starting to get annoying.

[Voice_du_More]

The one's doing the laying off just don't care. Why should they? They have nothing in common with the workers. CEO behavior was bad enough 40 years ago but today it's just downright obscene.

When the income disparity between average workers and CEO's reaches a certain point expect revolution. I would have thought that breaking point would be quite a bit less than the 262:1 difference we now suffer.

http://www.baltimoresun.com/news/local/ ... 525.column

Just 40 years ago, as the Vietnam Era was getting underway, it was only 24:1, and whiffs of revolution was in the air across The West. What happened? Why are people now timidly accepting this fairly recent immoral inequitability shift?

Back then people protested against war and today people vote for war.

Today we accept a horrifying spread between average workers pay and CEO pay, back then we knew a 24:1 spread was just plain wrong. Today few complain about a 262:1 difference.

Why have people become so supportive of such an oppressive status quo lately? I tell ya, it's starting to get annoying.

Because we have used consumerism to create a generation where each person can only act in regards to their only self interest. They see everyone else as a competitor for the things they want and as long as they can get what they want there is no need. What I am saying is that we have been medicated and brainwashed into a nation of worker drones and did not know it. We have sold our souls for rock-n-roll, and the city we built with rock-n-roll is about to come tumbling down. The boomers started with such high ideals and ended with such shabby ones.

Hide out in your dead end job and never lift your eyes up to the man. See if you can hide in the day his hired hands think there is something of value in your home after the crash.

The only answer is faith in the Lord Jesus Christ, I'm not sorry to be so blunt, or ashamed to be called crazy. What we are witnessing is a metaphysical transformation which some would call the judgment of God and it will get worse, much worse before it gets better.