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Private Sector

February 5, 2001
I keep reading about layoffs: Chrysler, J.C. Penney, Crown Books and more--but never any government agencies! Why not? Government produces nothing. All wealth is produced in the private sector by businessmen. Since each government job is supported by at least two private-sector households, government should eliminate at least one job for every two lost in the private sector. Otherwise, our economy will degenerate into a full-bore socialist state where everybody works for the government and nobody produces anything.
April 4, 2014 | By Don Lee
WASHINGTON -- It took more than four years, but the economy last month finally recovered all the millions of private-sector jobs lost in the last downturn. The March employment report released Friday showed employers added a reassuringly solid 192,000 jobs last month, shaking off the winter hiring doldrums. All of that came from private employers, bringing total nongovernment payrolls above the previous peak of 115.98 million in January 2008, near the start of the Great Recession.
March 16, 1986
Phillip Nicholson and Kenneth Bley (Viewpoints, Jan. 19) have given us a fine example of the claptrap promoted by the development community but now fashionably cloaked in the language of urban planning. They cry crocodile tears for the difficulties that developers face when there are building moratoriums, tell us how much we lose from tax revenues when this occurs, and then advance their own definition of planning: the planning that private-sector developments put into long-term multiphased projects (read "megadevelopments")
March 25, 2014 | By Seema Mehta
Republican gubernatorial candidate Neel Kashkari unveiled a jobs plan Tuesday that calls for corporate tax breaks, hydraulic fracturing of some California oil deposits, reduced regulations on business and increased spending on water storage. The 10-point plan, focused on manufacturing, water, energy and the business climate, is the first policy Kashkari has set forth since announcing in January that he would run for office. The former U.S. Treasury official said his plan would "unleash" the private sector, creating hundreds of thousands of jobs.
August 11, 2009
Re "Amid the cutbacks, pensions soaring," Aug. 9 I'm a Los Angeles Department of Water and Power retiree whose retirement benefits don't come anywhere near what the folks on your list are making, but I am at a loss to understand the purpose of your article other than to incite public outrage. By comparison, over the last two years, hundreds of high-profile private-sector CEOs made personal fortunes while running their companies into the ground, destroying the lives and pensions of their employees and investors.
June 10, 2012 | By Morgan Little
President Obama's comment Friday that the “private sector is doing fine” continued to dominate television political debates Sunday, with surrogates trying to minimize the impact of his remarks, and opponents seeking to take maximum advantage, despite Obama's retraction of the comment Friday afternoon. Indiana Gov. Mitch Daniels, a rumored vice presidential possibility for Republican candidate Mitt Romney, questioned Obama's ability to comprehend how employment works. “He does not understand where wealth and jobs come from.
June 8, 2012 | By Lisa Mascaro
WASHINGTON -- Congressional GOP leaders launched an orchestrated round of attacks on President Obama's assessment that private companies are doing “fine” in the sluggish economy, essentially ridiculing the White House's assertion that it is the public sector that needs government support to keep teachers, firefighters and other employees on the job. “Mr. President, take it from me, the private sector is not doing fine,” said House SpeakerJohn A. Boehner(R-Oh.), reminding that he was a small business owner before coming to Congress 20 years ago. “Are you kidding?
November 2, 2011
U.S. private employers added more jobs than expected in October, and more were added in September than originally reported, while a separate report showed planned layoffs dropped sharply last month. The ADP National Employment Report showed Wednesday the economy's private sector added 110,000 jobs last month, topping economists' expectations for a gain of 101,000 jobs. ADP also increased September's job additions, to a gain of 116,000 from the previously reported 91,000. The report is jointly developed with Macroeconomic Advisers LLC. "It is not a huge amount better, but the fact that it was better than expected and there was a revision in the last month's number is a pretty encouraging sign," said Peter Jankovskis, co-chief investment officer at Oakbrook Investments LLC in Lisle, Illinois.
January 9, 2013 | By Alana Semuels
The private sector is slowly climbing its back way from the Great Recession, adding 155,000 jobs in December, but the public sector is continuing its long employment slide, making it the worst few years for government employees in recent memory. That's a conclusion from a new report by the Nelson A. Rockefeller Institute of Government at the University of Albany, which calculates that while private-sector employment is down 3.1% from its peak in January 2008 and on the rebound, state and local government employment is down 3.4% from its peak in August 2008 and continuing to slide.
June 8, 2012 | By Seema Mehta
Mitt Romney hit back at President Obama's comments Friday morning that the private sector was "doing fine," with the GOP nominee saying it was evidence that the president does not understand the economy or the financial struggles facing Americans. "Is he really that out of touch? I think he's defining what it means to be detached and out of touch with the American people," Romney told supporters gathered in a park in Council Bluffs, Iowa. "Has there ever been an American president who is so far from reality?"
March 20, 2014 | By Hector Becerra
Tom Heaton was sitting in his kitchen in Pasadena on Monday morning when an alert went off on his laptop warning him that an earthquake had struck about 40 miles away in Encino. Seconds later, he felt the shaking. "It was fantastic," said Heaton, director of Caltech's Earthquake Engineering Research Laboratory. "It was bam bam, then it shook. It was probably about three seconds" between the alert and the shaking. Within a few years, all Californians should have access to those kinds of warnings, a crucial few seconds that could give emergency officials and residents time to brace for a major temblor.
March 5, 2014 | By Jim Puzzanghera
Bad winter weather helped put a freeze on the labor market last month, with the private sector adding a disappointing 139,000 net new jobs, payroll processing firm Automatic Data Processing said Wednesday. The figure, which was below economists' expectations, does not bode well for the government's February jobs report coming Friday. Analysts have been forecasting that the Labor Department data, which cover the private and public sectors, will show a pickup in job growth to about 150,000 last month, after a weak 113,000 in January.
February 11, 2014 | By Christi Parsons
WASHINGTON - President Obama will launch an initiative aimed at improving the lives of young black and Latino men by bringing businesses and foundations together with government agencies to change what an administration official called the "school-to-prison pipeline. " Obama plans to unveil the initiative, called My Brother's Keeper, on Thursday. The move is the latest in a series of efforts by the president to spur social change outside the stalemated legislative process, and represents an escalation of his efforts to target the problems faced by young men of color.
January 23, 2014 | By Seema Mehta
Republican gubernatorial candidate Neel Kashkari responded to reports that he had a spotty voting record, acknowledging that he has not gone to the polls in every election. He pointed to his decision to leave a lucrative investment banking career to work for the U.S. Treasury Department as proof that he values public engagement. “I believe voting is critical, and civic participation is critical. That's why I left a very attractive career in the private sector to go serve in the government for three years under two different presidents,” Kashkari said when asked by reporters about a report in the San Francisco Chronicle that he failed to vote in nearly half the elections he was eligible for since registering in California in 1998.
January 15, 2014 | By James Barragan, Marc Lifsher and E. Scott Reckard
President Obama named Los Angeles businesswoman Maria Contreras-Sweet, the founder of a community bank and a former California Cabinet member, as his nominee to head the Small Business Administration. Obama said Contreras-Sweet, who has worked with small businesses in the private sector, understands what small businesses need. "Maria knows how hard it is to get started on a business," Obama said Wednesday. "The grueling hours, the stress, the occasional self-doubt. " "So not only did she start small businesses, but those have also been her customers, and she understands all too often that the lack of access to capital means a lack of opportunity," he said.
November 18, 2013 | By Jim Puzzanghera
WASHINGTON -- A top Federal Reserve official said Monday he was "getting more hopeful" about the economic recovery and declared the private sector nearly healed from the Great Recession. William C. Dudley, the president of the Federal Reserve Bank of New York, said he saw "nascent signs" that the economy and the outlook were improving because the negative effects of federal tax increases and budget cuts should lessen in coming years. "I have to admit that I am getting more hopeful," Dudley, who has strongly supported the Fed's stimulus policies, said in a speech at Queens College in New York.
October 4, 2013 | Don Lee and Jim Puzzanghera
WASHINGTON - Less than a week into the federal government shutdown, the economic effects are starting to be felt beyond the nation's capital. Layoffs are beginning in the private sector. More investors are unloading Treasury notes. And beneath the surface of the apparent calm in financial markets, banks and corporate chief financial officers are quietly taking steps to prepare for what many see as a potentially disastrous scenario if lawmakers fail to raise the debt limit by the Oct. 17 deadline.
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