CNN's "light at the end of the tunnel"..."Employers Stopped firing, not yet hiring." USA! USA! USA!

[Amerigo Vespucci]

Jobs: 'Stopped firing, not yet hiring'
By Blake Ellis and Annalyn Censky, staff reportersSeptember 1, 2010: 11:16 AM ET

NEW YORK (CNNMoney.com) -- The jobs picture still looks sour, but there could be light at the end of the tunnel.

The bad news: The private sector slashed more jobs than expected in August, reversing a sixth-month trend of job gains. The good news: Overall employers announced fewer planned job cuts.

Private sector employers cut 10,000 jobs in August -- a drop from the downwardly revised 37,000 jobs they added the month before, according to a report by payroll processing firm Automatic Data Processing.

Those cuts were worse than predicted. Economists polled by Briefing.com had expected the report to show 13,000 jobs added in August.

While jobs statistics are often a volatile measure, the drop is still enough to "heighten fears about a double-dip recession," Paul Ashworth, senior U.S. economist with Capital Economics said in a note to investors.

http://money.cnn.com/2010/09/01/news/economy/job_cuts_challenger/index.htm?source=cnn_bin&hpt=Sbin

[Orsino]

1. "Fewer planned cuts" = more cuts, goddammit.

CNN's light at the end of the tunnel is indeed bogus.

[xchrom]

2. Can they just say the dip is here already?

This the longest lead up ever.

Maybe we can get a Main Street bill then.