U.S. private sector axes 532,000 jobs in May

U.S. private sector axes 532,000 jobs in May

news.yahoo.com

U.S. private employers chopped more than half a million jobs in May, signaling job conditions remain tough and dashing some hopes the economy was not deteriorating as rapidly as thought, a report on Wednesday showed.

U.S. companies axed 532,000 jobs last month, though this was fewer than the revised 545,000 jobs lost in April, according to the ADP National Employment Report.

(visit the link for the full news article)

Over half a million people have lost their job in one month, and a month before almost the same amount of people also lost their jobs.

More and more Americans, as well as other people around the world are losing their jobs. the plans of the rich and powerful is working perfectly, soon enough people will have no choice but to accept any form of government the rich elite claim that "will solve all the problems in the world, and will save the planet".

When you take away the hope of people about a present form of govenrment, and you give them no other choice but to accept a new form of dictatorship, people will accept it just so their children can have something to eat, and some clothes to wear.

I am saddened to see so many people lose their jobs meanwhile the mega rich get richer and get 'bailed out", and trillions of dollars are lost and the government is not afraid to say "we don't know where it went".

It is a sad state in which we are finding ourselves in.

news.yahoo.com
(visit the link for the full news article)

I hate to be the bearer of bad news but for the time being things look might bleak for the good old U.S. of A., and there are no positive trends developing in my humble opinion that offer any hope for a ‘quick’ turn around.

The Credit Markets are still frozen tighter than a drum. There is no new ‘fresh’ money entering the ‘pipeline’ from that direction. With most home’s owned by people who owe far more on them than the current market value, and both foreign and domestic car sales in the gutter there are no large infusions of cash coming down the pike by high rolling sales people, realtors or brokers to inject money into the lagging small ticket item retail and service industry segments of the economy.

While most people who don’t understand economics well are apt to point to little rallies and surges on the stock market as some kind of leading indicator it’s not really. Even if it wasn’t serving to suck an ever decreasing pool of cash out of the economy, most of the companies on the stock market do not manufacture domestically so there is no trends to jobs there. Many of the players are hedge funds and private investors trying to recoup retirement losses so even if they score a nice run it’s going into savings and not into the economy. Brokers likewise are not making the money are free spending it in a tight ‘bear’ market.

We don’t manufacture anything of value to export. We offer few services for export too.

In less you are in security (Black Water style) or High Tech, or can consult with foreign nationals how to manufacture or market products for the American market, there is little money to be made overseas.

Domestically if you are in security (Wackenhut style) or up to date with computer networking certification, or in health care, employed by a municipality, county, state or Federal government steady paychecks are hard to find and the government sector jobs are paid for by an increasingly smaller and lower tax base from private industry and citizens.

The only plan put forth so far by the government is how to avert a total collapse (maybe) by lending the banks and insurance and financial institutions a whole lot of money, restructuring the little bit of manufacturing we have left (automobiles) and growing the government.

That’s not going to lead to a recovery, that’s going to lead to a slow and agonizing death.

We need manufacturing in America again and to wean ourselves off of cheap foreign made products and the American corporations who greedily and foolishly have them manufactured overseas to steal cheap labor, and cheap resources.

Good news Wal-Mart is hiring 22,000 more minimum wage workers! The plan to bankrupt and stupefy America is going well for them!

You are right, their plan to destroy America to implement a one world Socialist regime, or government is working perfectly well. Meanwhile the rich in power get richer, the poor, and middle class get poorer, lose their jobs, and their homes.

Things will get so bad most people will accept any kind of solution even if it involves completely losing their rights, and losing our sovereignty.

reply to post by ElectricUniverse


Well almost anyone, not me my friend. I am a stubborn old cuss! Exercising one’s inalienable rights sure can lead to some interesting moments in life. We live, we learn!

Never count American’s out. The government and the people are after all two separate things! Every dog will have it’s day.

Originally posted by ElectricUniverse
You are right, their plan to destroy America to implement a one world Socialist regime, or government is working perfectly well. Meanwhile the rich in power get richer, the poor, and middle class get poorer, lose their jobs, and their homes.

Things will get so bad most people will accept any kind of solution even if it involves completely losing their rights, and losing our sovereignty.

There's nothing socialist about what's happening. Anyone who thinks that the people at the top of the economic pyramid want socialism need a reality check.

What we have now is oligarchical capitalism and the elite are defending their power and privilege with economic warfare against the poor.

You're doing a disservice to the people of this board by calling this giant money grab by the rich 'socialism'.

Originally posted by milesp

There's nothing socialist about what's happening. Anyone who thinks that the people at the top of the economic pyramid want socialism need a reality check.

What we have now is oligarchical capitalism and the elite are defending their power and privilege with economic warfare against the poor.

You're doing a disservice to the people of this board by calling this giant money grab by the rich 'socialism'.

Really? the current administration wants "redistribution of wealth", the president has called for CEOs to resign, and what sort of cars "PRIVATE" companies should be making, and now our biggest car manucfacturer has been NATIONALIZED.

We also have implementation of Socialist programs such as H.R. 1388, and you dare to claim the nation is not being turned into a Socialist dictatorship?...

The one making a diservice is you, but wait, don't tell us, you are or believe in one, or another form of Socialism right?....

[edit on 4-6-2009 by ElectricUniverse]