U.S. private sector job losses rise in March

[ShareTheWoods]

Source: Reuters

NEW YORK (Reuters) - U.S. private sector job losses accelerated in March, more than economists' expectations, according to a report by ADP Employer Services on Wednesday.

KEY POINTS: * ADP said private employers cut 742,000 jobs in March versus a 706,000 revised cut in February that was originally reported at 697,000 jobs. * Economists had expected 655,000 private-sector job cuts in March, according to a recent Reuters poll.

"Not good. This continues to drag on and get worse, and I think this is a prelude to Friday's bigger unemployment number.


Read more: http://www.reuters.com/article/ousivMolt/idUSTRE5303H020090401

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Not sure how much more of this prosperity we can take right now.

[demigoddess]

1. heard on NPR this morning that India hopes we do not do away with the tax breaks

for outsourcing our jobs to other countries. I could not believe my ears! We give tax breaks to companies outsourcing jobs!??? How stupid can americans get has just been answered. I despair for my country.

[BumRushDaShow]

2. The tax breaks issue

was a significant part of Obama's campaign. Not sure if the provision is in the current House and Senate versions of the FY '20 budget, but there has been much discussed regarding foreign operations and tax havens. Obama's version is described here: http://www.taxpolicycenter.org/taxtopics/2010_budget_other.cfm

The current concessions by the Swiss on their tax haven banks is hinting at what may be coming next regarding foreign operations and U.S. citizens/corporations.