07
Jul
11

but where are the jobs?

Reuters: U.S. private employers added far more jobs than expected in June, bouncing back from a surprise slump the month before, a report by payrolls processor ADP showed on Thursday.

The private sector added 157,000 jobs last month, exceeding expectations for a gain of 68,000, according to a Reuters survey of economists.

…. U.S. stock index futures added to gains following the report, while the dollar gained more ground against the yen.

Friday’s jobs report is expected to show a modest rise in overall nonfarm payrolls of 90,000 for last month and a gain in private payrolls of 110,000….

On Wednesday, a stable employment reading from the Institute for Supply Management’s service sector survey suggested employment growth later in the year….. More here

Bloomberg: U.S. stock-index futures extended gains after an industry report showed companies added more jobs than forecast in June, bolstering confidence in the economic recovery…. More here

*****

Bloomberg: U.S. initial jobless claims fell for the first time in three weeks, a sign the labor market is making a little headway.

Jobless claims fell by 14,000 to 418,000 in the week ended July 2, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg News survey called for a drop to 420,000. The number of people on unemployment benefit rolls and those getting extended payments also declined.


16 Responses to “but where are the jobs?”


  1. 1 LOL
    July 7, 2011 at 11:00 am

    Weekly jobless claims also down

  2. July 7, 2011 at 11:01 am

    This is good news for Mitt Romney!!

  3. July 7, 2011 at 11:04 am

    Shhhhhh, don’t tell this to Rusty!!

  4. 5 Me4obama
    July 7, 2011 at 11:08 am

    Who will deliver this Great News to Mittens the Stalker?

  5. 6 cuphalffull
    July 7, 2011 at 11:11 am

    I admit to not being a expert but from my observations we are in what could be called a non-bubble recovery. Even with the GOP doing whatever they can to screw it up, even with the years of devastating policies that the GOP has put in place, even with the pundits predicting the inevitability permanent loss of all manufacturing in the country, despite fundamentalists preaching against efforts to create new industries in alternative fuels and science in general, and with a sociopathic news organization blackmailing an entire political party (Murdoch), we are making headway.

    I’d say it says something about us as a country and our President, don’t you?

  6. 8 ChristiMtl
    July 7, 2011 at 11:21 am

    Lets see how the media handles it……oh right *crickets*

    We all know they were all over the place last month, what a failure the President was, where are the jobs? His policies were failing….Never never never asking one of those Repugs what they were doing to help the presidents or how many job bills were passed in the house, like ZERO.

    The corrupt to the core media will be the fall of this country if people don’t push back.

    How in the world is it logical that corporations with their billions have the power of information….it’s insane.

  7. 9 halo
    July 7, 2011 at 11:30 am

    FINGERS CROSSED.

    ADP doesn’t really have a great track record.

    • 10 utaustinliberal
      July 7, 2011 at 12:21 pm

      Yeah, but remember halo, ADP always predicts that things are worse than they are. So if they’re predicting that we were only supposed to gain 68,000 jobs and we gained 157,000 jobs, that means the real numbers could be slightly higher. So chin up….. this is definitely good news. I knew the May 2011 job numbers were just a slight slump on the radar because May 2010 jobs report also saw a slight slump. Despite the obstacles the GOP throws in the path, the jobs bills and foundation President Obama and the dems laid down will continue to prevail.

      • 11 Dorothy Rissman
        July 7, 2011 at 12:24 pm

        My chin is lifted. Thank you. This is great news. Want to take bets that bonehead will take credit for it?

  8. 12 CTGirl
    July 7, 2011 at 11:37 am

    Did the republicans claim this win?

  9. July 7, 2011 at 11:40 am

    So Krugman, a little premature on the Barack Herbert Hoover Obama, eh?

    • July 7, 2011 at 11:59 am

      Let see

      Second Great Depression?

      Wrong.

      Originally proposed 600 billion in stimulus money?

      Wrong.

      Nationalize banks?

      Wrong.

      Barack Herbert Hoover Obama?

      You know the drill,

      • 15 Dorothy Rissman
        July 7, 2011 at 12:26 pm

        Paul K can eat my dirty socks. I am so sick of the frustrati making over that little pimp. If Paul says it, then it is true.

  10. 16 lisalovesobama
    July 7, 2011 at 12:23 pm

    I did a happy dance after reading this :)


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