ADP: Hiring slowed significantly in April

posted at 10:40 am on May 2, 2012 by Ed Morrissey

How bad will Friday’s employment for April be?  The ADP report, which usually paints a rosier picture of private-sector job gains, shows a decline in growth of almost half from their March report:

Employment in the U.S. nonfarm private business sector increased by 119,000 from March to April on a seasonally adjusted basis. The estimated gain from February to March was revised down modestly, from the initial estimate of 209,000 to a revised estimate of 201,000.

Employment in the private, service-providing sector increased 123,000 in April, after rising 158,000 in March. Employment in the private, goods-producing sector declined 4,000 jobs in April. Manufacturing employment dropped 5,000 jobs, the first loss since September of last year.

Employment on large payrolls—those with 500 or more workers—increased 4,000 and employment on medium payrolls—those with 50 to 499 workers—rose 57,000 in April. Employment on small payrolls—those with up to 49 workers—rose 58,000 that same period. Of the 57,000 jobs created by medium- sized businesses, 8,000 jobs were created by the goods producing sector and 49,000 jobs were created by the service-providing sector.

Construction employment also fell by 5,000, the first decline in seven months and following healthy gains during the unusually warm winter months. Employment in the financial services sector increased 13,000 in April, marking nine consecutive monthly gains there.

The Wall Street Journal calls this “anemic”:

Private businesses hired at an anemic pace in April as factory jobs declined, according to a report released Wednesday.

Private-sector jobs in the U.S. increased 119,000 last month, according to a national employment report calculated by payroll processor Automatic Data Processing Inc.ADP -1.22% and the consultancy Macroeconomic Advisers.

The gain was less than economists’ median expectation of 175,000 in a survey done by Dow Jones Newswires.

Bear in mind that ADP usually overestimates the official growth numbers, and you’ll see why the WSJ had such a poor reaction.  That suggests a below-100K number for Friday, which with population growth factored in would mean a net decline in jobs.

Nor is that the only bad news today.  Predictably, the horrid durable-goods numbers for March pulled down overall factory orders, too — to their worst performance in three years (via Dogsoldier):

New orders for U.S. factory goods in March recorded their biggest decline in three years as demand for transportation equipment and a range of other goods slumped, government data showed on Wednesday.

The Commerce Department said orders for manufactured goods dropped 1.5 percent after a revised 1.1 percent rise in February.

Economists had forecast orders falling 1.6 percent after a previously reported 1.3 percent increase in February.

The markets reacted poorly to the news:

U.S. stocks fell early Wednesday as a weak private-sector jobs report overshadowed upbeat corporate results.

The Dow Jones industrial average (INDU) fell 53 points, or 0.4%, in early trading. The S&P 500 (SPX) declined 8 points, or 0.6%, and the Nasdaq (COMP) lost 6 points, or 0.2%.

Expect a lot of “unexpected” reports on Friday, and not of the positive kind.


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Happy Nomad on May 2, 2012 at 11:29 AM

this angryed persona is meant to sound rational and even-keeled as well as urbane and sophisticated…

…unlike angryed the OWS supporter who said 0bama was no better than Romney, said he/she had always opposed the war in Afghanistan, and viciously slurred US troops…

…which is why angryed the successful entrepeneur and small business owner was so un-convincing.

Let’s not forget angryed the Tea Partier who supported Rick Santorum and Newt Gingrich because Romney was too liberal.

…which is an odd contrast with angryed the atheist who disparaged people of faith for clinging to fourteenth century beliefs.

My guess is this newest version of angryed may be another ham-handed attempt by ed to try and turn conservatives against Romney and the “1%”, but I really don’t want to get too far in to angryed’s head.

MidniteRambler on May 2, 2012 at 11:45 AM

BUSINESS/ECONOMY
62% Believe U.S. is in Economic Recession, 22% Disagree

Conservative4ev on May 2, 2012 at 11:34 AM

These kinds of statistics are always confusing. Are 22% of respondents idiots or do they think we are in an economic depression?

Frankly, the economic definition of recession doesn’t matter. We all know the administration has been cooking the books and secretly adjusting numbers after the news cycle. The fact of the matter is that nobody thinks they are economically better off now than they were four years ago. If not directly unemployed, everybody knows somebody who has lost their job or is underemployed. Everybody has seen the cost of gas and food go up. Everybody recognizes the generational theft occurring.

Happy Nomad on May 2, 2012 at 11:53 AM

MidniteRambler on May 2, 2012 at 11:45 AM

So…schizophrenic perhaps?

Trafalgar on May 2, 2012 at 11:54 AM

railroad car loading remains flat… no increase in my industry… that means no increase in the economy (we are a leading edge indicator, either going into or coming out of recession)…

Khun Joe

Architecture & engineering services are a leading indicator as well (they precede applications for building permits).
Everything dropped through the floor in mid April. This could get ugly.

MichaelGabriel on May 2, 2012 at 11:54 AM

This Saturday night I wanted to go to PF Chang for dinner before mr and the mrs. went to a play. Got to PF at about 5:30pm and was told it would be a 90 minute wait for a table. Not going to work since the play starts at 7:30. Went down the street to a Mexican place. How long for a table? 45 minutes. SOLD! Oh and the play was fully sold out at $48/ticket for a 750-1000 seat theater.

angryed on May 2, 2012 at 11:11 AM

So to you things aren’t bad until all PF Changs, Mexican restaurants, and theater’s are closed?

Got it.

Wagthatdog on May 2, 2012 at 11:56 AM

My guess is this newest version of angryed may be another ham-handed attempt by ed to try and turn conservatives against Romney and the “1%”, but I really don’t want to get too far in to angryed’s head.

MidniteRambler on May 2, 2012 at 11:45 AM

Wow, I had no idea so many people were living in that basement. Puts the number of Hilary Rosens running around the White House to shame. :0

If the atttempt is to turn conservatives against Romney, it will not work. Class warfare and envy only goes so far when the trump card is ABO. As somebody else posted, I’ll take a liberal Republican over a marxist anyday.

Happy Nomad on May 2, 2012 at 11:58 AM

I guarantee that the headline unemployment rate will drop to 8.1% on friday.

120,000 jobs created- not enough to keep up with population growth.

but more people will “drop out of labor force” and more people will drop off the 99 week unemployment rolls.

pretty soon we will have 4% unemployment becauase only half of Americans will be working!

mark my words

AirForceCane on May 2, 2012 at 12:00 PM

Economy “mysteriously” grows six percent during the first year of the Romney Administration

You people really are clueless. A single politician isn’t going to fix the deep, structural problems in this economy. Even if you cut entitlement and other spending, that would only address the long-term threat of unsustainable deficits, but from a growth standpoint would have an immediate, short-term negative effect.

Until this country’s massive account deficits are addressed, the economy will remain stagnant. Even under those great regulatory policy days under Bush, only a couple million jobs were created.

bayam on May 2, 2012 at 12:02 PM

but more people will “drop out of labor force” and more people will drop off the 99 week unemployment rolls.

pretty soon we will have 4% unemployment becauase only half of Americans will be working!

mark my words

AirForceCane on May 2, 2012 at 12:00 PM

CNN announced that in the article I quoted upthread. The numbers are a sham. All the media outlets know it and they snicker at us.

dogsoldier on May 2, 2012 at 12:03 PM

Even under those great regulatory policy days under Bush, only a couple million jobs were created.

Paul Krugman is God on May 2, 2012 at 12:02 PM

How many jobs have been created under O’bama? None.

Del Dolemonte on May 2, 2012 at 12:06 PM

The recession/depression doesn’t exit [sic] for a large segment of the population. That’s not to say there isn’t economic pain out there, but it’s not affecting everyone equally.

angryed on May 2, 2012 at 11:11 AM

Tell that to the 15% of the population who is jobless you ignorant moron! God how I hate you smug (*&(*& socialists!

Happy Nomad on May 2, 2012 at 11:19 AM

..it sure as hell doesn’t affect FulminatingEd, Happy. He’s been coked to the gills and in a drug-induced stupor and an orgy of self-flagellation ever since his crapsack hero gave that “Mission Accomplished” speech last night.

Wait’ll the ADP and Friday jobs report numbers sink in. Better yet, wait’ll he gets his pink slip and joins the redhead and star trooper in the unemployment lines.

The War Planner on May 2, 2012 at 12:07 PM

You people really are clueless. A single politician isn’t going to fix the deep, structural problems in this economy.

bayam on May 2, 2012 at 12:02 PM

..you ought to work on extracting your head from your poop chute, old son. You’ll hero has run this economy down so much, it ought to spring back with a vengeance when the POTURDUS is flushed.

The War Planner on May 2, 2012 at 12:11 PM

you’ll == your, of course

The War Planner on May 2, 2012 at 12:12 PM

Until this country’s massive account deficits are addressed, the economy will remain stagnant. Even under those great regulatory policy days under Bush, only a couple million jobs were created.

bayam on May 2, 2012 at 12:02 PM

That’s just crazy talk. :0

Seriously, you are correct BUT confidence by individuals and corporations are important too.

Happy Nomad on May 2, 2012 at 12:12 PM

Unemployment by itself is awful – almost 2 years unemployed myself now and it’s devastating on many levels – but when you accompany that with a breakdown in the fundamental beliefs about who we are and what we’re doing

Lesson for the geniuses out there who don’t understand the foundation of today’s pain: a policy of “deficits don’t matter” that involved massive tax cuts when the economy was expanding (despite objections from Greenspan), eventually led to a $1 trillion structural deficit. Broad spending cuts in the immediate aftermath in a once in a generation financial crisis is not sound policy.

Romney’s not my favorite, but I’ll pick a liberal capitalist over an out and out marxist any day.

rbj on May 2, 2012 at 11:01 AM

Yes, the kind of Marxist who follows Bush’s TARP program in lock step to save the banks and Wall Street elite instead of pursuing a bolder policy of taking the too big to fail banks into federal receivership, and then selling off their assets to create smaller financial institutions that can no longer threaten the nation’s financial system and hold a knife to taxpayer’s throats. But oh no, that would have been a communist move and completely unacceptable!

bayam on May 2, 2012 at 12:14 PM

Better yet, wait’ll he gets his pink slip and joins the redhead and star trooper in the unemployment lines.

The War Planner on May 2, 2012 at 12:07 PM

That’s when a recession becomes a depression.

Happy Nomad on May 2, 2012 at 12:14 PM

That’s when a recession becomes a depression.

Happy Nomad on May 2, 2012 at 12:14 PM

..and I would want to be his dealer.

The War Planner on May 2, 2012 at 12:17 PM

Factory orders tank as well.

For some reason, the photo caption meant something… different… to me. I was wondering why the factory needed so much firepower.

Prufrock on May 2, 2012 at 12:18 PM

That suggests a below-100K number … which with population growth factored in would mean a net decline in jobs.

Obama supporters will never discuss the Employment-population ratio.

They’ll blame job losses on Bush, even though the Democrats have held majority control since January 2007 when they took both houses of Congress.

And they’ll talk about “jobs created” under Obama since the low point, (giving Bush all the blame for job losses and Obama all the credit for job creation), but they will never talk about how the average Employment-Population Ratio over the entire 8 years of the Bush Presidency averaged 62.7%, while the average under the pResidency of Barack H. Obama has been a full 4 percentage points lower: 58.7%.

Those 4 percentage points equate to about 10 Million jobs.

The Obama administration would have to find a way to create 10 Million new jobs just to get back to the average level of employment under the Bush Presidency.

And if you want to get back to where things were when the Democrats took majority control in January 2007, we’d need about 12.5 Million new jobs. The Employment-Population Ratio was almost 5 points higher in December 2006 (63.4%) than it is now (58.5%), and if the population aged 16 years and over is approximately 250 Million people, each 1% represents 2.5 Million jobs.

Democrats drove us into the ditch when they took over majority control in 2007, drove us deeper into the ditch when they gained absolute control in 2009, and we’ve stayed in the ditch ever since 2010.

To get out of the ditch, we need “REVERSE”, not “FORWARD”.

ITguy on May 2, 2012 at 12:18 PM

unexpectedly

AH_C on May 2, 2012 at 12:23 PM

You people really are clueless. A single politician isn’t going to fix the deep, structural problems in this economy.

bayam on May 2, 2012 at 12:02 PM

I wonder what you would be saying if the economy and jobs were cruising along really well. Somehow the President would take credit for that. Than he wouldn’t have to travel half-way across the globe to take a victory lap.

earlgrey133 on May 2, 2012 at 12:23 PM

Yes, it’s time for the federal government to declare Marshall Law, implement NDAA, and seize the assets of all businesses. Afterall, why let a good crisis go to waste?

WordsMatter on May 2, 2012 at 11:14 AM

12-21-2012 anyone?

marinetbryant on May 2, 2012 at 12:23 PM

This Saturday night I wanted to go to PF Chang for dinner before mr and the mrs. went to a play. Got to PF at about 5:30pm and was told it would be a 90 minute wait for a table. Not going to work since the play starts at 7:30. Went down the street to a Mexican place. How long for a table? 45 minutes. SOLD! Oh and the play was fully sold out at $48/ticket for a 750-1000 seat theater.

And this to me, is why Obama is still at 50% approval. The recession/depression doesn’t exit for a large segment of the population. That’s not to say there isn’t economic pain out there, but it’s not affecting everyone equally.

angryed on May 2, 2012 at 11:11 AM

and our local troll gives us a good sense of how a population of 303 million people spread out over tens of millions of square miles is doing just great-

because his local chinese restaurant is busy on a weekend. yep- that is Obamanomics in a nutshell!

AirForceCane on May 2, 2012 at 12:26 PM

Seriously, you are correct BUT confidence by individuals and corporations are important too.

Happy Nomad on May 2, 2012 at 12:12 PM

“Confidence” is the standard escape clause used when there’s no hard evidence to back up the ongoing claims that some attitude adjustment will return the economy to pre-crisis days and suddenly end the aftermath of a massive asset bubble. There was so-called “confidence” under Bush but still very little job creation. It wasn’t even Bush’s fault, but a consequence of imperfect trade policies and ongoing globalization that encouraged companies to send jobs abroad.
Some parts of the economy today show strong “confidence”- especially technology companies and internet startups. Look at all the IPOs for a quick reality check. Of course, this is one of the few areas of the economy where consumer demand has remained strong. Consumer demand is the basis of confidence and is the only way to restore job growth.

In the middle of a recession, you can’t address a deficit by cutting spending, but by growing out of it. Japans’ very similar balance sheet recession witnessed a similar outcome. When attempts were made to balance the budget through spending cuts, the deficit actually increased (see Richard Koo).

bayam on May 2, 2012 at 12:26 PM

and our local troll gives us a good sense of how a population of 303 million people spread out over tens of millions of square miles is doing just great-

because his local chinese restaurant is busy on a weekend. yep- that is Obamanomics in a nutshell!

AirForceCane on May 2, 2012 at 12:26 PM

Whatever dude. You go ahead and think every one of those 310 (not 303 btw) million are starving. Out here in the real world, that’s just not the case.

angryed on May 2, 2012 at 12:28 PM

..it sure as hell doesn’t affect FulminatingEd, Happy. He’s been coked to the gills and in a drug-induced stupor and an orgy of self-flagellation ever since his crapsack hero gave that “Mission Accomplished” speech last night.

Wait’ll the ADP and Friday jobs report numbers sink in. Better yet, wait’ll he gets his pink slip and joins the redhead and star trooper in the unemployment lines.

The War Planner on May 2, 2012 at 12:07 PM

Unemployment line? I thought I was living in my mom’s basement. Make you your minds.

angryed on May 2, 2012 at 12:30 PM

The economy looks like it’s going to sputter out badly in the summer, especially when Europe’s recession starts to hit us here.

Obama is very fragile right now, if the the next few months are bad economically, I see the bottom falling out.

Obama can only run on these distractions so long, he’s starting to run out and the summer is not even over yet.

BradTank on May 2, 2012 at 12:33 PM

I wonder what you would be saying if the economy and jobs were cruising along really well. Somehow the President would take credit for that. Than he wouldn’t have to travel half-way across the globe to take a victory lap.

earlgrey133 on May 2, 2012 at 12:23 PM

Good point and this is where I don’t agree. Given what actually transpired during the near-collapse of the US financial system (if you take the time to read an account, it’s hard to fully contemplate), this country really should have experienced a full-blown depression, not unlike the 1930′s. I give the most credit to Bush, Paulson, and Bernanke for the success of TARP and other measures to keep the economy from falling into the chasm.

There were undoubtedly policy options available to Obama that could have pushed the economy toward depression, including failure to save the automakers and loss of millions of auto industry and related jobs. Sharp spending cuts proposed by the Tea Party instead of a stimulus program could have also resulted in a depression. But even after 2008, we still live in a country marked by expectations of privilege instead of the harsh reality that low unemployment isn’t going to emerge after a once in a lifetime financial crisis and asset bubble collapse- and a middle class standard of living is no longer a birthright. Not in the new global economy.

bayam on May 2, 2012 at 12:39 PM

ADP: Hiring slowed significantly in April

And the GOP along with their tea party crew rejoice….

Uppereastside on May 2, 2012 at 12:41 PM

Tell that to the 15% of the population who is jobless you ignorant moron! God how I hate you smug (*&(*& socialists!

Happy Nomad on May 2, 2012 at 11:19 AM

I hate to defend angryed, but he is not 100% wrong (for once, at least). If you have a job, and your salary was not effected (which also has to be considered), then technically, you are doing fine. Sure, gas, food, etc.. costs more, but the bad economy doesn’t really effect you as much, unless you lose your job.

Any decent neighborhood doesn’t have foreclosure signs. The restaurants are packed at night. Apartments/homes are hard to find. Shops have plenty of people at night/on weekends. So, in those neighborhoods, for the people with jobs, like goes on as it would if unemployment was 4%. Now, not everyone has jobs, and some have been forced to move out of those neighborhoods because they have lost higher paying jobs, but on the whole for 85% of people, angryed is not really wrong.

So, the issue should not be framed as the economy sucks for everyone. It’s that for the unemployed, Obama is causing them to be unemployed, and for those with jobs, Obama’s policies are putting their financial futures in jeopardy.

milcus on May 2, 2012 at 12:41 PM

A Depression!! Oh wait

MINNEAPOLIS–(BUSINESS WIRE)– Buffalo Wild Wings, Inc. (NASDAQ: BWLD), announced today financial results for the first quarter ended March 25, 2012. Highlights for the first quarter versus the same period a year ago were:

Total revenue increased 37.9% to $251.1 million
Company-owned restaurant sales grew 40.3% to $232.3 million
Net earnings increased 22.8% to $18.2 million from $14.9 million, and earnings per diluted share increased 21.0% to $0.98 from $0.81

Just a fluke, right? Nope.

ORLANDO, Fla., March 23, 2012 /PRNewswire/ — Darden Restaurants, Inc. (NYSE: DRI) today reported diluted net earnings per share and sales for the third quarter ended February 26, 2012.

Key results for the quarter include the following:

Third quarter diluted net earnings per share from continuing operations were $1.25, a 16% increase from the $1.08 diluted net earnings per share in the third quarter of last year.
Third quarter total sales from continuing operations were $2.16 billion, a 9.3% increase from the $1.98 billion generated in the third quarter of last year.

But wait, there’s more….

BJ’s Restaurants, Inc.’s Annual Revenues

BJ’s Restaurants, Inc. had revenues for the full year 2011 of $620.9M. This was 20.8% above the prior year’s results.

angryed on May 2, 2012 at 12:43 PM

Somehow the President would take credit for that.
earlgrey133 on May 2, 2012 at 12:23 PM

He tries mightily to take credit for the “recovery” and the tiny number of jobs being created, but accepts to responsibility for the MILLIONS who no longer have a job and the means to sustain themselves.

Whatever dude. You go ahead and think every one of those 310 (not 303 btw) million are starving. Out here in the real world, that’s just not the case.

angryed on May 2, 2012 at 12:28 PM

Once again you cynically state an obvious straw man and then knock it down.

As Del would say:

F-

dogsoldier on May 2, 2012 at 12:44 PM

hate to defend angryed, but he is not 100% wrong (for once, at least). If you have a job, and your salary was not effected (which also has to be considered), then technically, you are doing fine. Sure, gas, food, etc.. costs more, but the bad economy doesn’t really effect you as much, unless you lose your job.

milcus on May 2, 2012 at 12:41 PM

Sorry I have a job and I have my salary. Sole income provider for my family, Price of Gas and Food, taxes do have an impact on me on desposable income, second I find that I have more responsabilities at work and covering more territory due to my company letting people go. The point is I am doing double work for the same pay, so your argument is lame

Conservative4ev on May 2, 2012 at 12:46 PM

And the race card. Don’t forget that one. That’s Barry’s favorite, the one he’s played to such great advantage his entire life

AZCoyote on May 2, 2012 at 11:02 AM

Only one playing the race card is you and your right wing lunatics. All you do is bring race into every equation.

Uppereastside on May 2, 2012 at 12:47 PM

What is the status of corporate cash reserves? I was under the impression that there is a lot of undeployed cash because of uncertainty/risk. Most of that uncertainty/risk is due to 0bama.

Will the floodgates open once ABO is elected? Will players sitting it out once again see opportunity in investing in the United States?

I find my pessimism tiring.

freedomfirst on May 2, 2012 at 12:47 PM

..it sure as hell doesn’t affect FulminatingEd, Happy. He’s been coked to the gills and in a drug-induced stupor and an orgy of self-flagellation ever since his crapsack hero gave that “Mission Accomplished” speech last night.

What makes this even funnier is that a couple weeks ago, angryed put on his OWS persona and ranted about the evils of the US military and its war on “brown people” in Afghanistan. angryed made sure to say then that 0bama was just as bad as Romney in terms of being a war-mongering imperialist.

The only reason angryed has gotten away with this sort of trolling is that many people don’t check in here regularly enough to see angryed’s shifts in persona. angryed is a leftist of some stripe, but at his/her core he/she cares most about stirring up disruption for the sake of stirring up disruption.

MidniteRambler on May 2, 2012 at 12:48 PM

Expect a lot of “unexpected” reports on Friday, and not of the positive kind.

In other news, Barry Obama killed OBL.

GarandFan on May 2, 2012 at 12:49 PM

And the GOP along with their tea party crew rejoice….

Uppereastside on May 2, 2012 at 12:41 PM

It seems liberal4life had the foresight to make more than one account…

MidniteRambler on May 2, 2012 at 12:50 PM

Sorry I have a job and I have my salary. Sole income provider for my family, Price of Gas and Food, taxes do have an impact on me on desposable income, second I find that I have more responsabilities at work and covering more territory due to my company letting people go. The point is I am doing double work for the same pay, so your argument is lame

Conservative4ev on May 2, 2012 at 12:46 PM

Typical Right Wing Con – Maybe you need to stop whinning and get back to work sport. You better be happy bossman is even paying you.

Uppereastside on May 2, 2012 at 12:51 PM

Obama is very fragile right now, if the the next few months are bad economically, I see the bottom falling out.

Obama can only run on these distractions so long, he’s starting to run out and the summer is not even over yet.

BradTank on May 2, 2012 at 12:33 PM

The Emperor Zero and his campaign are in desperation mode. Their attack plan is in chaos, since the economy they destroyed hangs around their necks like an albatross. They cannot gain traction. The tactics they use backfire and 400,000 more people join the ranks of the unemployed each and every week.

“Things fall apart; the centre cannot hold” – Yeats

dogsoldier on May 2, 2012 at 12:51 PM

And the GOP along with their tea party crew rejoice….

Uppereastside on May 2, 2012 at 12:41 PM

Nice strawman. You accuse the GOP of “rejoicing” in an effort to frame the bad news in a way that the GOP won’t use it when laying out the case why Obama doesn’t deserve a second term.

Well, if pointing out that we have had negative job growth for the 39 months Obama has been President, then yes I am “rejoicing.”

Happy Nomad on May 2, 2012 at 12:52 PM

I want to see the progressives–aka Dems–smashed into sniveling impotence this November–denied even the role of spoiler.

Only if this happens can we reverse the course we are now following. And this needs to happen for at least 2 election cycles.

irongrampa on May 2, 2012 at 12:53 PM

Sorry I have a job and I have my salary. Sole income provider for my family, Price of Gas and Food, taxes do have an impact on me on desposable income, second I find that I have more responsabilities at work and covering more territory due to my company letting people go. The point is I am doing double work for the same pay, so your argument is lame

Conservative4ev on May 2, 2012 at 12:46 PM
Typical Right Wing Con – Maybe you need to stop whinning and get back to work sport. You better be happy bossman is even paying you.

Uppereastside on May 2, 2012 at 12:51 PM

Hey Bra,
I am a bossman and I must say I do fire people because they voted for your guy sport, (Not Kidding)

Conservative4ev on May 2, 2012 at 12:54 PM

Hey Bra,
I am a bossman and I must say I do fire people because they voted for your guy sport, (Not Kidding)

Conservative4ev on May 2, 2012 at 12:54 PM

lolol. Would tell you u owe me a new keyboard for that joke but this one you can hardly afford to feed your family, keyboard is on me.

Uppereastside on May 2, 2012 at 12:58 PM

Upper:

How’s that SBUX @$70 treating you? LOL.
Any other investment advice?

angryed on May 2, 2012 at 1:01 PM

Typical Right Wing Con – Maybe you need to stop whinning and get back to work sport. You better be happy bossman is even paying you.

Uppereastside on May 2, 2012 at 12:51 PM

..and you need to shut it, you insensitive pr*ck. This is exactly the type of person your tool pResident is bending over and having his way with. He’s the line manager of a company who is suffering under the stifling regulations and taxes imposed and that has no choice but to cut jobs.

By the way, I salute this guy’s choices — firing the mind-numbed, mouth-breathers who voted that crapsack in. Let them know firsthand the consequences of their actions.

The War Planner on May 2, 2012 at 1:01 PM

This Saturday night I wanted to go to PF Chang for dinner before mr and the mrs. went to a play. Got to PF at about 5:30pm and was told it would be a 90 minute wait for a table. Not going to work since the play starts at 7:30. Went down the street to a Mexican place. How long for a table? 45 minutes. SOLD! Oh and the play was fully sold out at $48/ticket for a 750-1000 seat theater.

And this to me, is why Obama is still at 50% approval. The recession/depression doesn’t exit for a large segment of the population. That’s not to say there isn’t economic pain out there, but it’s not affecting everyone equally.

angryed on May 2, 2012 at 11:11 AM

I’ll rarely say it, but angryed is right. Sort of anyway. Now full disclosure. I live in Katy, TX and the economy in the greater Houston area is doing ok compared to the rest of the country. One of the blessings of living in Texas.

So he’s right that a lot of restaurants around here are packed. People are still going out to eat. They’re still going to movies, sporting events(well, except for Astros or Rockets games since they suck), concerts, etc.

But look closely at the menu next time you sit down to eat at a restaurant or stop at a fast food drive-thru. The prices are going up. And not by 50 cents or a buck. We’re talking 15-20% price hikes minimum at a lot of places I’ve been to. And when it’s not happening at the supermarket, it’s because the quantities within the packaging are being reduced while the price is unchanged. And let’s not forget the cost to fill your gas tank in order to get to said restaurants and supermarkets.

So if you’re working, you’re probably doing ok relative to those who are out of a job. But unless you’re in the top 10% of the 1%, you’re being hit by the Obama economy. You may not realize it every time, but if your wages are stagnant while your cost of living slowly rises with each passing year, it’s taking its toll on you as well.

Doughboy on May 2, 2012 at 1:02 PM

It seems liberal4life had the foresight to make more than one account…

MidniteRambler on May 2, 2012 at 12:50 PM

Doubt it is L4L. The grammar is too good compared to L4L.

NotCoach on May 2, 2012 at 1:03 PM

Hey Bra,
I am a bossman and I must say I do fire people because they voted for your guy sport, (Not Kidding)

Conservative4ev on May 2, 2012 at 12:54 PM
lolol. Would tell you u owe me a new keyboard for that joke but this one you can hardly afford to feed your family, keyboard is on me.

Uppereastside on May 2, 2012 at 12:58 PM

Hey just because your a boss doen’t mean you make a lot of money, hell with dem taxes taking 30% and then an income tax rate plus all the other taxes on salaries Gubmit destroys wealth.
second, chief you know who voted for your God in 2008 by going to meetings and listen to chatter, then what you do is monitor their expenses, and then put them on a plan then push them out or fire them for cheating on expenses, because dems cheat on expenses. Yep I must say everyone I work with is a Conservative

Conservative4ev on May 2, 2012 at 1:03 PM

Hey Bra,
I am a bossman and I must say I do fire people because they voted for your guy sport, (Not Kidding)

Conservative4ev on May 2, 2012 at 12:54 PM

..way to go, man. (Seriously!) After about 10 or 20 months in the unemployment line, maybe they’ll think twice about the economic consequences of their vote.

The War Planner on May 2, 2012 at 1:03 PM

US corporate tax rate: 39.26%

Canada (for example) corporate tax rate: 15%

We need to slash the rate, no strings attached, for a minimum of 10 years. Growth would ensue.

visions on May 2, 2012 at 1:04 PM

The only reason angryed has gotten away with this sort of trolling is that many people don’t check in here regularly enough to see angryed’s shifts in persona. angryed is a leftist of some stripe, but at his/her core he/she cares most about stirring up disruption for the sake of stirring up disruption.

MidniteRambler on May 2, 2012 at 12:48 PM

That. Or…

Unlike the Sean/Rush zombies I can walk and chew gum at the same time and realize that the world is more complex than DEMOCRAT BAD, REPUBLICAN GOOD.

angryed on May 2, 2012 at 1:04 PM

And the GOP along with their tea party crew rejoice….

Uppereastside on May 2, 2012 at 12:41 PM

Typical liberal deceit. Deliberately trying to confuse cause and effect. Conservatives don’t rejoice in people suffering, but they will rejoice an ineffective, narcissistic, feckless, hate mongerer being thrown out of the White House.

MichaelGabriel on May 2, 2012 at 1:04 PM

Hey just because your a boss doen’t mean you make a lot of money..

Conservative4ev on May 2, 2012 at 1:03 PM

..oh, are you gonna draw fire from CrapitatingEd for your grammatical errors.

;-)

The War Planner on May 2, 2012 at 1:06 PM

US corporate tax rate: 39.26%

Canada (for example) corporate tax rate: 15%

We need to slash the rate, no strings attached, for a minimum of 10 years. Growth would ensue.

visions on May 2, 2012 at 1:04 PM

39.26%? Try 35%.

But whatever the number is, it’s irrelevant. No company actually pays anywhere close to 35%. Might as well make it 350% and it wouldn’t add a dime of money paid by corporations. The countries like Canada with much lower rates also don’t have 18,000 pages of IRS deductions either. GM paid no taxes. GE paid no taxes. How many large companies in Canada can say the same thing? None.

angryed on May 2, 2012 at 1:07 PM

Hey Bra,
I am a bossman and I must say I do fire people because they voted for your guy sport, (Not Kidding)

Conservative4ev on May 2, 2012 at 12:54 PM
..way to go, man. (Seriously!) After about 10 or 20 months in the unemployment line, maybe they’ll think twice about the economic consequences of their vote.

The War Planner on May 2, 2012 at 1:03 PM

Hey War,
I told everyone how to do it, you don’t even need to go through human Resources hahahaha

Conservative4ev on May 2, 2012 at 1:08 PM

Upper?
Bueller?
$70 SBUX?
Mr. Investment Genius who made 150% return last year?
Anyone?
Helllooooo?

angryed on May 2, 2012 at 1:10 PM

I note this dismal report was met by itty bitty drops in the markets..’irrational exuberance’ triumphant!

JIMV on May 2, 2012 at 1:10 PM

Obama is very fragile right now, if the the next few months are bad economically, I see the bottom falling out.

Obama can only run on these distractions so long, he’s starting to run out and the summer is not even over yet.

BradTank on May 2, 2012 at 12:33 PM

The Emperor Zero and his campaign are in desperation mode. Their attack plan is in chaos, since the economy they destroyed hangs around their necks like an albatross. They cannot gain traction. The tactics they use backfire and 400,000 more people join the ranks of the unemployed each and every week.

“Things fall apart; the centre cannot hold” – Yeats

dogsoldier on May 2, 2012 at 12:51 PM

The winds were at Obama’s back when he took office, from a re-election standpoint. Most all previous recessions ended and growth resumed once the markets had a chance to work. It would have happened this time around if he hadn’t meddled and put policies in place that further dampened the economy. But it’s not happening and he’s the reason. They couldn’t help themselves.

moo on May 2, 2012 at 1:11 PM

Damn,
Meghan Kelly is not only hot she is going to rip Obama after the commercial break and rape him on these job numbers

Conservative4ev on May 2, 2012 at 1:12 PM

so according to the interview all these jobs that were created were service jobs. So basically we will be all working at the Marriott or Westin

What moving forward economy

Conservative4ev on May 2, 2012 at 1:22 PM

The winds were at Obama’s back when he took office, from a re-election standpoint. Most all previous recessions ended and growth resumed once the markets had a chance to work. It would have happened this time around if he hadn’t meddled and put policies in place that further dampened the economy. But it’s not happening and he’s the reason. They couldn’t help themselves.

moo on May 2, 2012 at 1:11 PM

Correct. Also he didn’t really have to campaign or work to hard to defeat Hillary after he framed her as a racist. As far as the depression, it certainly would not have started or lasted as long as it has without his policies.

Remember he personally participated in attacks on banks using the CRA as a club.

In the last year he and the dems have done nothing but scream for higher taxes, crushing the economy further with every word.

dogsoldier on May 2, 2012 at 1:25 PM

angryed on May 2, 2012 at 1:10 PM

Okaaaaaaaaaay. So it hasn’t gotten there yet. It will eventually.

That said, I did make decent change on the April $57.50 calls when i first shared that story. I don’t see you reminding me of that trade now do I?

Plus I sold the $65 & $70 May calls for a very small gain because i had a bad feeling a day before they reported.

Why don’t you share your trades with us anti sketchy?

Uppereastside on May 2, 2012 at 1:26 PM

You people really are clueless. A single politician isn’t going to fix the deep, structural problems in this economy.

bayam on May 2, 2012 at 12:02 PM

I searched for your comments about Bush along these lines from the 2008 posts, but I couldn’t find anything.

Difficultas_Est_Imperium on May 2, 2012 at 1:40 PM

so according to the interview all these jobs that were created were service jobs. So basically we will be all working at the Marriott or Westin

What moving forward economy

Conservative4ev on May 2, 2012 at 1:22 PM

Or Google. Or Amazon. Or IBM. Or Cisco. Or Apple. Oh did you forget that engineer is also a “service” job?

angryed on May 2, 2012 at 1:44 PM

Okaaaaaaaaaay. So it hasn’t gotten there yet. It will eventually.

That said, I did make decent change on the April $57.50 calls when i first shared that story. I don’t see you reminding me of that trade now do I?

Plus I sold the $65 & $70 May calls for a very small gain because i had a bad feeling a day before they reported.

Why don’t you share your trades with us anti sketchy?

Uppereastside on May 2, 2012 at 1:26 PM

Riiiiight. One day you’re pimping $70 the next day you have a bad feeling about them. Dude you’re a trip.

angryed on May 2, 2012 at 1:46 PM

How do these traitors shift the focus away from the economy to something more important to the public like Sandra Fluke’s need for contraception or Mitt Romney’s long deceased dog?

Happy Nomad on May 2, 2012 at 10:54 AM

So far, Boys and Girls, from what I’ve gleaned from Sandra Fluke’s public rants, it might behoove us all to make sure she STAYS on birth control.

Tenwheeler on May 2, 2012 at 1:47 PM

“Slowing Job Growth is Good for the Economy.” – NPR

midgeorgian on May 2, 2012 at 1:50 PM

You people really are clueless. A single politician isn’t going to fix the deep, structural problems in this economy.

bayam on May 2, 2012 at 12:02 PM

But Obama’s definitely showing how to make it far worse.

Chuck Schick on May 2, 2012 at 2:09 PM

There were undoubtedly policy options available to Obama that could have pushed the economy toward depression, including failure to save the automakers and loss of millions of auto industry and related jobs.
bayam on May 2, 2012 at 12:39 PM

LOL. All those cars built by the UAW would have been built by Toyota, Honda, etc who would have gladly hired millions of new employees to do so. In the US.

All Obama did was save union jobs at the expense of non-union jobs that would have been created.

angryed on May 2, 2012 at 2:18 PM

angryed loves trotting out the “get outside your simplistic Rush/Hannity bubble” line whenever called on his/her trolling. That goes along with his claims that he/she is just too complex for us to understand.

Complexity does not extend to claiming one’s self to be a Tea Partier and supporter of devout Catholic and Iran hawk Rick Santorum one month, and an atheistic, anti-military, anti-war radical the next. Rapid and subsequent embracing of such mutally exclusive philosophies in such a brief a span of time, as angryed has done, is the product of schizophrenia, or the coarsest sort of trolling.

MidniteRambler on May 2, 2012 at 2:19 PM

This Saturday night I wanted to go to PF Chang for dinner before mr and the mrs. went to a play. Got to PF at about 5:30pm and was told it would be a 90 minute wait for a table. Not going to work since the play starts at 7:30. Went down the street to a Mexican place. How long for a table? 45 minutes. SOLD! Oh and the play was fully sold out at $48/ticket for a 750-1000 seat theater.

And this to me, is why Obama is still at 50% approval. The recession/depression doesn’t exit for a large segment of the population. That’s not to say there isn’t economic pain out there, but it’s not affecting everyone equally.

angryed on May 2, 2012 at 11:11 AM

While it’s nice of your parents to treat you to Chili’s before seeing Wicked, the fact remains that over 93% of the meager per-capita real income growth under Obama are going to the hated 1%. American multi-nationals are shipping 75% of their job growth overseas.

Chuck Schick on May 2, 2012 at 2:26 PM

on the whole for 85% of people, angryed is not really wrong

Wow- someone really needs to take an Econ101 class pretty quickly.

Sorry, but you just do not understand how an economy works. I have a great job, make lots of money. But because the GREATER ECONOMY is awful, I can not sell my house that I bought in New Jersey in 2009. I had to sell my condo in Washington in 2011 for 13,000 dollar loss. If the economy was doing as well as it was in 2004- that would have sold for a gain.

My gas costs more. Dry cleaning costs more. Food costs more. I get less of a bonus because the WH is cutting the defense budget which flows down to defense contractors. Fewer companies in my line of work are hiring new employees, which means I am stuck where I am with no more mobility. Because I don’t know if this is where I want to live for the rest of my life, I can’t buy a house.

with 16 trillion debt, I will be paying for that one way or another over the next thirty years. Social Security and medicare are collapsing by 2024.

Have you ever thought of any of these factors? Still think the larger economy has no effect on high earners?!

AirForceCane on May 2, 2012 at 4:07 PM

Have you ever thought of any of these factors? Still think the larger economy has no effect on high earners?!

AirForceCane on May 2, 2012 at 4:07 PM

Same here. I got a new job 3 months ago. I’ve never been doing better in my life, but I am fortunate that I am in technology and it is booming right now.

Just wait’ll they start dealing with trillion dollar deficits for real. The Fed is buying 60% of Obama’s drunken spending spree to keep rates rock bottom.

Once that stops- look out below. If the 99% thinks the 1% can pick up all of that tab, they are on crack. They need to repeal ALL of the Bush tax cuts to make a dent in the deficit. And about 85% if that are tax cuts for the bottom 95% or so.

Chuck Schick on May 2, 2012 at 5:17 PM

“INHERITED!!!!!!”

Strike Hornet on May 2, 2012 at 6:29 PM

8.1% WHAT AN ABJECT JOKE!?!?!

Colatteral Damage on May 4, 2012 at 3:49 PM

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