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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Report: Aug. Employment Drop Smallest Since Sept. 2008

A privately run estimate of U.S. employment -- which is used as a predictor of the Labor Department's jobless figure -- released moments ago said that the private sector shed 298,000 jobs in August, down from 360,000 jobs lost in July.

That would make it the smallest monthly drop in U.S. unemployment since September 2008.

The figures come from ADP, a human resources company. The Labor Department's official U.S. unemployment rate is due out Friday and is expected to tick up from 9.4 percent to 9.5 percent.

ADP said job losses are indeed diminishing but are likely to continue for several months.

Small businesses (those with fewer than 50 employees) lost twice as many jobs in August as the largest businesses (those with more than 499 employees.)

Employment in the manufacturing sector fell by the smallest amount since July 2008.

-- Frank Ahrens
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By Frank Ahrens  |  September 2, 2009; 8:29 AM ET
Categories:  The Ticker  | Tags: ADP, unemployment  
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Comments

Gee, down to only about 300k jobs lost.

Meanwhile, the incompetent dumbo in the White House and his cabal of leftists issued 125,000 green cards to increase competition for those poor souls who are unempolyed.

Any doubts that the flop eared nitwit still doesn't have a clue about the economy?

Hope you class envy children who voted for this slug are enjoying your "change."

Posted by: LarryG62 | September 2, 2009 9:34 AM | Report abuse

Clearly the dumbo in the White House and his cabal of egghead economic advisors still don't have a clue.

Odumbo's administration is still issuing 125,000 green cards so these people can compete in the failing job market.
They do not have to issue the cards, but it's probably inkeeping with their goal of ensuring the economic crisis is sustained.
Like Emanuel says, they don't want to waste an opportunity to do their dirty work.
Disgusting and contemptible.

Posted by: LarryG62 | September 2, 2009 10:04 AM | Report abuse

LarryG62, you had your chance with "W," and you lost it. Soon most GOP hopefuls will be in prison or too busy trying to repair their reputations. Rush is just the "best" you can do, face it.

Posted by: IAmend | September 2, 2009 1:01 PM | Report abuse

Wow, I bet President Pinnochio is really jazzed about this.

Posted by: rg019571 | September 2, 2009 1:05 PM | Report abuse

Let's just be honest about a few things. First, about half of those "jobs lost" aren't. They were outsourced, shipped over seas to India, China, the Philippines, etc. Because this Administration has done NOTHING to protect our jobs, has actually encouraged companies to outsource them, outsourcing is accelerating. Second, the numbers reported every week here are "seasonably adjusted" and otherwise adjusted, messaged numbers. They, in no way, reflect actual job losses or actual unemployment. The raw figures for the past year show a steady rate of job losses and unemployment of around 650,000 a month. It isn't getting any better. Likewise, the "productivity" increases and manufacturing increases reported here are entirely due to goods being manufactured offshore and imported into this country with no duties, taxes, or other levies being paid, often shipped direct with no paperwork whatsoever. The entire "recovery" is nothing but a fable, a fantasy you guys spin for the benefit of a gullible public. Please stop insulting those of us who actually pay attention to these things.

Posted by: mibrooks27 | September 2, 2009 1:10 PM | Report abuse

Gee, down to only about 300k jobs lost.

Meanwhile, the incompetent dumbo in the White House and his cabal of leftists issued 125,000 green cards to increase competition for those poor souls who are unempolyed.

Any doubts that the flop eared nitwit still doesn't have a clue about the economy?

LarryG must be talking about Geiorge W. Bush and his Dad; 41; that created this financial meltdown of GOP policies that have left America with no manufacturing jobs, all moved to China and India under GWB and DC.

LarryG Get your facts straight befoire you blame the curent administration for the double digit unemployment.

Patrick

Posted by: patmatthews | September 2, 2009 1:46 PM | Report abuse

LarryG62 and rg019571 are probably just two of many Repubtards who voted for George Worst, twice, and now still conveniently dump all the blames on Obama for GW's eight years of total screw ups. If McCain and Palin were in the White House, the unemployment would most likely be at least twice what it has been every month since the Bushed Recession was in full swing last September and I'd bet my life on it, too. But, of course, being Repubtards they would neither realize or admit the truth.

Posted by: TalkingHead1 | September 2, 2009 1:51 PM | Report abuse

Interesting that none of you small minded liberals can defend the incompetent in the White House and his green card issuing.

All you can do is regurgitate the tired old democrat crap about blaming Bush.


One day you will wake up, but it will be too late.

Everyione who disagrees with the leftist slug in the White House isn't a Republican or a racist.

But then even you children know that. Back to your coloring books and crayons.

Posted by: LarryG62 | September 2, 2009 2:01 PM | Report abuse

"One day you will wake up, but it will be too late."

LarryG, so how do YOU like waking up to America, after eight years of Bush and Cheney? Everything looks and smells rosy, huh?

Posted by: TalkingHead1 | September 2, 2009 2:33 PM | Report abuse

TalkingHead1 - Your posts are right on target, keep up the good work because the republi-fools think we've all forgotten the long 8 year nightmare living under the Bush Crime Family's reign of terror.. now we have to put up with the "American Taliban" repubs hoping the country will fail.. #1 Menace To America, Republi-nuts.

Posted by: VietVet68 | September 2, 2009 2:50 PM | Report abuse

Not all liberals are small-minded. Not all conservatives small-minded. No single adminstration can undo what it has inherited from the previous or even the previous two or three. I agree it isn't racist to disagree with what is going on the White House. It's okay to be angry if you feel your government isn't proceeding in a direction you're comfortable with. But you're insulting your own intelligence if the best you can do is throw about names (Republi-nuts, American Taliban, flop-eared nitwit). You also bring down anyone who would agree with your opinion that you've hidden under childish name-calling. Have an intelligent debate about the issue. Don't make it personal or call attention away from the issue by name-calling or perhaps you can take your crayons and go home?

Posted by: flagmaven | September 2, 2009 3:52 PM | Report abuse

To LarryG62: Blaming the green card holders for exacerbating job losses in the US is an ignorant and plainly false statement. Most of the green card winners are picked via a random lottery, and the vast majority of them do not speak English and do not have marketable skills. These legal immigrants wind up cleaning hotel rooms and washing dishes for the hope of better living while largely living in isolation until they become more integrated into our society. If they are educated abroad, most U.S. employers will not recognize their accreditation or (para)professional certifications. Bottom line: most do not compete for your job.

-- A former green card holder and now a proud naturalized citizen.

Posted by: tiankov | September 2, 2009 4:59 PM | Report abuse

is a smaller economy and maybe a one income household criminal? let's face the facts, revise our lifestyles....maybe even enjoy life for a while? if we don't use a model based on two workers...for married folks...and accept the current state of affairs until the business cycle changes, the unemployment RATE, the one scaring everyone, will go down. consider it anyway. just maybe we had too many employed?!

Posted by: jimmy81 | September 2, 2009 11:00 PM | Report abuse

The comments to this entry are closed.

 
 
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