Wednesday, July 1, 2009

What Stimulus? US Sheds 473,000 More Jobs, Exceeding Predictions

Private-sector jobs in the U.S. fell 473,000 in June, according to a national employment report published Wednesday by payroll giant Automatic Data Processing Inc. and consultancy Macroeconomic Advisers, according to a Wall Street Journal report published today.

The expected loss exceeds the 400,000 drop forecast by economists in a Dow Jones Newswires survey and suggests that layoffs may be worsening.

How will the mainstream media spin this news?

The press is trying to get you to believe this is GOOD NEWS because ONLY 473,000 jobs were lost.

It's interesting at this point to note the same press whined about how bad things were when unemployment was around four percent and the DOW was at 14,000 under Bush.

Read it.

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