297,000

[nmbluesky]

Private sector payrolls soared 297,000 in December, payroll processor ADP announced Wednesday.

The gain marks the 11th consecutive month of increases, and was much larger than economists had expected. Economists surveyed by Briefing.com were forecasting an increase of 100,000 jobs.

The increase in hiring was led by the services sector, with employers adding 270,000 jobs in December. That's the highest jump on record, ADP said.

That's a positive sign for the economy, with the government's highly-anticipated monthly unemployment report due Friday
http://money.cnn.com/2011/01/05/news/economy/challenger_ADP_jobs_reports/index.htm?hpt=T1

[DCBob]

1. This may be the beginning of big jump in hiring..

There is tremendous built up demand and many companies have huge cash reserves.

[earthside]

2. Don't get excited.

One, hiring up at Christmastime? Not a big surprise.
Two, were these part-time sales jobs that are going away this month?
Three, didn't Challenger issue a positive report last month just before we got a rise in the unemployment rate?

If there is some new employment -- that's great. But let's stay real, this report, even if true, is so inconsequential in the big picture that it is almost meaningless.

It is fine to highlight a private company's report on jobs, but the budget crisis in California, New York, Texas, etc. is the elephant in the economic room right now.

[DCBob]

3. This is 3x what economists predicted so clearly its more than just the typical holiday bump..

Of couorse there are still elephants roaming around but a signficant jump in hiring helps push them out or at least minimize the damage.

[Major Hogwash]

6. Exactly, people are going to find a way to pay their bills with or without Congress.

A lot of the newer jobs are in positions that don't pay like they did back in 2006, but they will lead to more money coming into the tax coffers for 2011.

We can work our way out of the recession, rather than just act as consumers buying everything in sight to try and keep the enonomy afloat.

Downsizing has already hit bottom; it took 13 years for the corporations to outsource as much as they could, but they still need some people to come in and turn on the lights.

[phleshdef]

4. Why bother to stifle optimism? Its not hurting you.

If its misguided optimism, those being optimistic will know soon enough.

And you are dead wrong about it being inconsequential. If it were, say, the beginning of a jobs recovery trend, at that rate alone we would have recovered nearly half of the 8 million jobs by this time next year.

[impik]

5. Sad, sad people. That's what they are.

Always looking to kill any kind of sun coming out of the clouds. How sad.

[ProSense]

7. Last Christmas, ADP reported

85,000 jobs lost.

[Phx_Dem]

10. Debbie Downer.

:(

[Change Happens]

11. NOOOOOOO, WRONG! These numbers are adjusted for seasonality...etc.

So the number is as correct as the survey shows at this time.

[Exilednight]

13. Here's the part tha everyone is ignoring.

"The increase in hiring was led by the services sector, with employers adding 270,000 jobs in December. That's the highest jump on record, ADP said."

Service sector jobs = waitress, burger flipper, retail sales, bank teller, etc...

Otherwise known as minimum wage, or just above. Not to down anyone with one of these jobs, but these are not jobs that the average family of 3 can pay their bills with.

I am happy that people can find work, but we need jobs that people can build a career around and not just skimp by on if they are lucky.

[Change Happens]

8. OBAMANOMICS rolls on....and it will get better from here!!!

History will show President Obama has managed to perform miracles in turning around the mother of all recessions!!!

[rug]

9. How does that jibe with the half millon jobs lost in 2010, reported further down?

Job cuts on the decline: In another sign that the weak job market might have bottomed out, 2010 was the lowest year for job cuts in 13 years, according to a separate report issued Wednesday.

Employers announced plans to cut nearly 530,000 jobs in 2010, a 59% plunge from 2009, when job cuts reached a seven-year high, said Challenger, Gray & Christmas, an outplacement consulting firm.

[golfguru]

12. K&R

[jenmito]

14. That must be why intrade has this number dropping so low:

US Unemployment Rate in Dec 2010 to be greater than 9.75%
Last Price: 15.1 (down 18.9): http://www.intrade.com/

[mikekohr]

15. And The Positive Trend Continues GRAPHS

Public/Private Job Creation Graph 1/2008 - 9/2010, nice work President Obama


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President Obama took over at the depths of the George W. Bush Great Recession and immediately stopped the stunning increase in monthly job loss and reversed the trend. We have now witnessed 10 of the last 11 month's producing positive private sector job growth.
(October and November of 2010 also showed an increase in private sector job growth which makes 12 of the last 13 month's in positive territory)

President Obama's economic policies have created more private sector jobs in less than 2 years than did George W. Bush's economic policies did in 8.



Real GDP Grows For 5th Straight month -graph-
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Bureau County Democrats
http://bureaucountydems.blogspot.com

A LITTLE HISTORICAL PERSPECTIVE
It Took FDR,The Most Accomplished President Ever, Time to Undo Republican Economic "F" Up
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Flip this chart over and superimpose it over the one above. They match up rather closely.
Reality: Hoover ='s Bush,
FDR ='s Obama

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Job creation graph, Truman to Bush: http://bureaucountydems.blogspot.com/p/job-growth.html

[JoePhilly]

20. +100

[northofdenali]

16. And I've had ONE interview since the layoff in August. n/t

[mikekohr]

17. I am pulling for you, hang in there my friend

If we want to avoid the pain of recovery from recessions we have to quit electing the assholes that create them.

9 of last 10 recessions occured under Republican leadership: http://bureaucountydems.blogspot.com/p/history-of-recessions.html

Republicans CRUSH job creation: http://bureaucountydems.blogspot.com/p/job-growth.html

Democrats wildly outperform Repblicans on every measurable economic statistic: http://bureaucountydems.blogspot.com/p/economic-record.html



RESULTS MATTER!

[marybee]

18. I still think its a group of underwork and underpayed

na

[BklnDem75]

19. Why?

Because anything else would be positive news?