by dakine01
Results of Middle Class Destruction
12:00 pm in Economy, Financial Crisis, Jobs, Unemployment by dakine01
I would like to start today by pointing out an error I made yesterday. I assumed that since March was not finished with us, that the ADP jobs report for March would not be issued until next Wednesday. I guess ADP figures the last few days of the month don’t matter so long as they get a report out two days prior to the BLS report for the overall economy issued on the first Friday of the new month.
From Reuters on today’s (Wednesday, March 30) ADP report:
(Reuters) – Private employers added 201,000 jobs in March, while February’s figure was revised down slightly, a report by a payrolls processor showed on Wednesday.The data was largely in line with expectations. Economists surveyed by Reuters had forecast the ADP Employer Services report would show a gain of 203,000 jobs. The report is jointly developed with Macroeconomic Advisers LLC.
February’s figure was revised down to 208,000 from 217,000.
“Basically the number was very much in line with expectations and shows that the labor recovery continues at a reasonable pace,” said David Katz, chief investment officer at Matrix Asset Advisors in New York.
Of course, Mr Katz is not accounting for the loss of jobs in the public sector. And there have been job losses in the public sector this past month.
But there have been a few articles I’ve seen during my daily surfing of the toobz, from today and earlier, that tell us a bit more about the state of the economy than the ADP report and the words of Mr Katz can tell us.
First up is this article from today’s Hartford Courant on New London, CT schools that are now providing free suppers (to go with free breakfasts and lunches) for students from low income families. From the article:
While many schools across Connecticut provide free or reduced lunch and breakfast to students from low-income homes, New London was the first to provide supper, too. Bridgeport recently launched a similar program, and Norwich is considering it.
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