Grim Job report to be released on Friday. (no mention of economy at GOP convention)

[Liberal_in_LA]

http://www.thestreet.com/story/10435796/1/job-market-looks-grim-reports-say.html?puc=googlefi&cm_ven=GOOGLEFI&cm_cat=FREE&cm_ite=NA

Job Market Looks Grim, Reports Say

Two reports on the U.S. job market provided more bleak economic news on Thursday, with employers cutting a surprising number of jobs and more Americans filing for unemployment benefits than economists had expected.

The Labor Department said that jobless claims jumped 15,000 last week, whereas the consensus estimate was for a decline of 9,000 claims, according to Briefing.com. In addition, a monthly jobs report from ADP (ADP - Cramer's Take - Stockpickr) showed that companies slashed 33,000 nonfarm private jobs, about 3,000 more than expected.

Jobs cuts were found in the manufacturing, construction and financial services sectors, which have been suffering declines through most of the year. Small businesses and the services industry offset some of the losses in large, goods-producing firms.

If the official government report, set to be released on Friday, supports the ADP data, the U.S. workforce will have contracted in each of the first eight months of the year. However, the data are not surprising, says Joel Prakken, chairman of Macroeconomic Advisers, which puts together the jobs report in conjunction with ADP.

[Democrats_win]

1. Republican recession. Count on bushco serving up some bogus good "news."

In the past we said that bush's job creation record was as bad as Hoovers. I don't know if that's still true. His wars take a lot of people to run.

[undeterred]

2. I found out today that my employer is contesting

my unemployment compensation. I found out when there was no money in my account for 3 days and I called to ask why. My employer was the Democratic Party in my state which "let me go" because I couldn't handle working 14 hours a day, 7 days a week, for 3 months straight for the Obama campaign at my age. Now its apparently bad behavior. I called the Obama for America campaign and asked them if this is how Obama would workers to be treated, and if not, to please ask my Party not to contest it because I have no other income. I am waiting to see what happens.

[izquierdista]

3. Nope, It will be a pleasant surprise

Haven't you noticed that economic reports from the government bear no relation to reality? The Repubs have their fingers on the scale like a piano in a room full of kindergardeners. They need some good news to end the week of the convention, so they have cooked the books to come up with something that will show it to be better than it is.