697,000 jobs lost in February

[debbierlus]

Source: Reuters

NEW YORK (Reuters) - U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services that suggests hefty employment declines are on the way in the government's payrolls report due on Friday.

ADP said on Wednesday that private employers cut 697,000 jobs in February versus a revised 614,000 jobs lost in January. The January job cuts were originally reported at 522,000.

It was the biggest job loss since the report's launch in 2001 and showed the misery of declining employment spreading broadly and evenly throughout the economy.

.............More at link

Read more: http://www.reuters.com/article/ousiv/idUSTRE5232V420090304

[samplegirl]

1. One word

INHERITED

[debbierlus]

2. Obviously -

However, if Obama doesn't stop trying to prop up this failing system instead of working towards creating a new one,
it will continue.

The corporate fascist dictatorship must fall. If Obama won't recognize that this system is unsustainable (and shouldn't be sustained), the corporations will eat up all the money, give back practically nothing, and we will fall HARD. We are in free fall.

He definitely inherited this crisis. No doubt. But, I am distressed at his vestment in resurrecting the failed system that has broken us. It won't work, and he will be scapegoated for the failure. I am surprised so many people are silent on this elephant in the room. I wish he would just say ENOUGH, this must end, and govern for the people. He would have the standing ovation of the majority of American people and the world.

[earthside]

3. YOU are Absolutely Correct! n/t

[debbierlus]

10. It is disheartening to see so little discussion about this is on DU

Obama is choosing the corporate path. He has not invited any representatives of single payer health care to his first health care forum. It is incredibly disheartening. Fortunately, Dean is mobilizing to take on health care reform and force inclusion of meaningful change in health policy. If anyone can unite enough of us, it would be Dean.

I am going to donate 50 bucks to Democracy for America & volunteer for their campaigns. This corporate two party rule is killing us.

[OhioChick]

5. Bingo! n/t

[Deja Q]

7. Agreed. A competent one world government may not be a bad thing.

Hate to say it, but I can't fathom much that'd be worse right now.

Too many points of view; right now just sit back, do your job the best you can, and live life with as much smile as you can muster.

[Pale Blue Dot]

8. Thank you. nt

[Abq_Sarah]

13. How many of those jobs

Came from large corporations vs small businesses?

[geckosfeet]

14. Roughly 33% small, meduim and large. Which means small business are getting hammered.

[Abq_Sarah]

15. Of course

We always get hammered. We don't have the tax advantages of huge corporations and we depend on consumers having money in their pockets to spend.

[blueclown]

4. How close was the ADP report to the government report last month?

[Dr.Phool]

6. ADP is always wrong.

Official numbers out Friday will be much worse, like always.

[newtothegame]

9. :(

[daggahead]

11. I am fortunate to still have my job ...

... is anybody else freaking out about this?

I am.

:scared: :nuke:

[superconnected]

16. I am, glad to have my job but very worried. I don't see new jobs on the

horizon and my job and my co-workers jobs are slotted to go to India in July.

Isn't that nice - people in india being the remote server admins of US television stations.

[daggahead]

19. Spread that word ... maybe you can influence enoough people to stop watching ...

... that television station.

[xchrom]

12. dear lord god -- recommend

[sarcasmo]

17. I can picture Kevin Bacon in Animal House with his hands in the air and the Mob running at him.

All is well, AL is well, as he is about to get trampled.

[Dappleganger]

18. Damn.

Dh's job ends this Friday. He'll file for unemployment next week. :(

[daggahead]

20. It is hard for me to come to work every day ...

and 'give it my all' when I know I'm done in October.

This sucks ...