ADP shows weakest hiring in four years in private sector

Source: MarketWatch

WASHINGTON (MarketWatch) -- Employment in the U.S. private sector grew by 38,000 in August, the weakest in four years, according to the ADP employment report released Wednesday. The ADP report suggests nonfarm payrolls may have grown much slower than the 123,000 anticipated by economists ahead of the report. Adding in some 27,000 government jobs typically added but not covered by the ADP report, it suggests nonfarm payrolls grew by about 65,000.

Read more: http://www.marketwatch.com/news/story/adp-survey-private-sector-payrolls-shows/story.aspx?guid=%7B7925CC06%2DAAC6%2D4852%2D8FCD%2DB963BA62933F%7D&siteid=bnb

I firmly believe that the Bush administration knew that trickle down economics (the tax cuts for rich) were not going to build a strong economy, so they contributed to the inflation of the real estate bubble in order to create some circulation of money in the economy that would hide the fact that their policies didn't work, and they only intended to keep that bubble inflated until at least November 2006.

I hope the sheeple see this, or better yet FEEL this.
NAFTA my ass.

The only work will be for the military....:sarcasm:

NEW YORK (Reuters) - Planned U.S. lay-offs rocketed in August as the housing slowdown and subprime mortgage debacle led to record job cuts in the financial sector, an independent report showed on Wednesday.

Announced lay-offs surged 85 percent to 79,459 in August from 42,897 in July, according to Challenger, Gray & Christmas Inc, an employment consulting firm. August's job cuts were the highest since February, when they totaled 84,014.

"Nearly half of the August cuts came from the financial sector, as dozens of mortgage and subprime lenders caved under the pressure of a sinking housing market," Challenger, Gray & Christmas said in a statement.

Financial job cuts totaled 35,752 in August, the highest monthly total for the industry since Challenger, Gray & Christmas began tracking in 1993, the firm said.

---EOE---

http://www.reuters.com/article/ousiv/idUSNAT00313120070905

Or, it should. But I know it won't.

for the past three years in a row (large family, lot of kids). Each year there seem to be more and more graduates being commissioned as officers into the Armed Forces at graduation. I think it's the only option available to many with the current job situation.
I don't envy College grads at this point of the, "Bush economic miracle". :sarcasm: There's no jobs out there for them. What does this bode for those without a College degree?
Our economy SUCKS! The rich are surely getting richer but the middle class is disappearing at an alarming rate. The poor? They're so screwn!