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Economy Loses 131,000 Jobs


AROCES

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Friday, 06 Aug 2010 08:47 AM

U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.

Non-farm payrolls fell 131,000 the Labor Department said on Friday as temporary jobs to conduct the decennial census dropped by 143,000.

Private employment, considered a better gauge of labor market health, rose 71,000 after increasing 31,000 in June. In addition, the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.

Analysts polled by Reuters had forecast overall employment falling 65,000 and private-sector hiring increasing 90,000.

The unemployment rate was unchanged at 9.5 percent in July for a second straight month, just below market expectations for a rise to 9.6 percent. The steady jobless rate largely reflected a drop in the labor force as discouraged workers gave up the search for jobs.

Job growth has taken a step back after fairly strong gains between February and April, putting in jeopardy the economy's recovery from its worst downturn since the 1930s.

http://www.moneynews.com/Headline/Economy-Jobs-Unemployment/2010/08/06/id/366794

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Friday, 06 Aug 2010 08:47 AM

U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.

Non-farm payrolls fell 131,000 the Labor Department said on Friday as temporary jobs to conduct the decennial census dropped by 143,000.

Private employment, considered a better gauge of labor market health, rose 71,000 after increasing 31,000 in June. In addition, the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.

Analysts polled by Reuters had forecast overall employment falling 65,000 and private-sector hiring increasing 90,000.

The unemployment rate was unchanged at 9.5 percent in July for a second straight month, just below market expectations for a rise to 9.6 percent. The steady jobless rate largely reflected a drop in the labor force as discouraged workers gave up the search for jobs.

Job growth has taken a step back after fairly strong gains between February and April, putting in jeopardy the economy's recovery from its worst downturn since the 1930s.

http://www.moneynews.com/Headline/Economy-Jobs-Unemployment/2010/08/06/id/366794

Q2 Results were lower than expected as well :(

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Aroces is so ****ed up. I always picture this greedy little man sitting at his computer surrounded by his money typing away trying to convince the world the reason he has all that money is that he's smart and he's earned it. He's like the Donald Trump of the internet. :P

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Aroces is so ****ed up. I always picture this greedy little man sitting at his computer surrounded by his money typing away trying to convince the world the reason he has all that money is that he's smart and he's earned it. He's like the Donald Trump of the internet. :P

Seems like its all you do all day, picture others, complain, accuse and hope for Obama to make your life better.

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And Aroces is dancing with glee ...

Nope, it's a cycle. Economy slows down, Democrats takes the opportunity, do the same failed policies and then they lose control.

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Seems like its all you do all day, picture others, complain, accuse and hope for Obama to make your life better.

No that is not all I do all day. :D You are the one always complaining and hoping Obama will fail so you and your partners in crime can go back to your evil ways. :lol:

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Nope, it's a cycle. Economy slows down, Democrats takes the opportunity, do the same failed policies and then they lose control.

Yes right after the Republicans screw everything up with their same failed policies and lose control.

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No that is not all I do all day. :D You are the one always complaining and hoping Obama will fail so you and your partners in crime can go back to your evil ways. :lol:

Oh I don' even have to hope.

I have said more than a year ago, don't panic for the Democrats will be who they are. They will do the same thing all over again with the hope this time it will work.

But seems like I am wrong about unemployment, for I thought it will get no better then 7% with the community organizer steering the ship., should have said 9%:tu:

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