Now those 365,000 who lost their jobs last WEEK can fill those 201,000 jobs that ADP claims were created last MONTH!
Must be something wrong with my calculator. It keeps giving me a negative result.
Well, let me try this.....371,250 average weekly unemployment claims X 4 weeks = 1,485,000 August's new unemployment claims(give or take a day or two.)
OK, now we're getting somewhere....lessee here, 201,000 new jobs Divided by 1,485,000 = 0.135353535.
Yesirree Bob. All those folks can now fill 1/10th of a job!
Are we headed in the right direction or what?!?!?!?
But wait!
There's more!
Of the 201,000 jobs created last MONTH. 16,000 were in goods producing jobs
AND.....
185,000 were in the service producing jobs category.
NOW for the best part....
Are you ready for some really BIG news?!?!?!?
of those 201,000 new jobs......3,000 were in manufacturing!
Can you say Forward?
Since you mentioned the ADP report, here is the correlation between ADP and NFP: