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Jobs Market Barely Budges in June as Hiring Stays Weak

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The Northerner Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 01:27 PM
Original message
Jobs Market Barely Budges in June as Hiring Stays Weak
U.S. private employers added just 13,000 jobs in June, according to a report published on Wednesday that suggested expectations of a big drop in the government's upcoming non-farm payrolls report were on target.

The ADP Employer Services report also said May's gain was revised marginally higher to 57,000 from the original estimate of 55,000.

That revision was basically the only good news, however, in a report that under-shot expectations of a rise of 60,000 private-sector jobs in June.

It also supported fears that the short and tepid recovery from the worst recession since the 1930s was fizzling.

"There is really no way to characterize this number other than disappointing," said Macroeconomic Advisers LLC chairman Joel Prakken, whose firm jointly developed the ADP report. "The overall number tells you that the recovery in the jobs market is very, very sluggish at this point."

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday.

Read more: http://www.cnbc.com/id/38013729
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 01:31 PM
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1. Wow....13,000.....that's BAD n/t
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dtotire Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 01:33 PM
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2. Extremely disappointing n/m
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taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 01:40 PM
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3. The cheerleaders have vanished...
This is a horrible result.
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 02:12 PM
Response to Reply #3
4. I'm sure this is fantastic news for you. (nt)
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taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 04:10 PM
Response to Reply #4
5. What do you mean?
I'm looking for a new job, and the market sucks. I hate this shit. I also hate people mindlessly cheerleading. Where did those people go? How do they explain this?
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