ADP Jobs At 5-Month High, Beating Expectations For 3rd Month In A Row

Zero hedge ^

[Perdogg]

It was the best of times, it was the worst of times. A dramatic beat by the ADP jobs number at 201k vs expectations of 140k is the third month in a row of beating expectations for jobs and the highest add of jobs in 5 months.

[Perdogg]

ping

[woweeitsme]

Of course...just in time...

[yldstrk]

what a blatant fabrication

[N. Theknow]

So, it's 201,000 new jobs for the MONTH, with 370,000 new claims for unemployment per WEEK.

If this is an improvement and we are headed in the right direction, we should be able to see ourselves in the rearview mirror any moment now.

[ScottinVA]

And, as predicted.. here comes the flood of “we`ve turned the corner” jobs reports. My prediction for tomorrow: a very heavily trumpeted “jobs number” of 270,000, with the unemployment rate “plummeting” to 8.1% And the country will again be flush with 0bamalove.

[nhwingut]

Would be statistically impossible given the unemployment claims over the past month (372k avg).

[Perdogg]

I think the BLS number will be in line with 120-k

[scbison]

If you look at ADP vs gov’t data over last year or so, ADP is always higher...

[Uncle Chip]

Hamburger flippers and nursing home workers.

[oliviasdad]

I thought the Jobs numbers weren’t due out until tomorrow. This will give Obozo something to crow about in his speech tonight. Dang it.

[CaptainK]

He won’t mention the ADP numbers. The official govt. numbers come out tomorrow.

[N. Theknow]

From the article: It was the best of times, it was the worst of times. A dramatic beat by the ADP jobs number at 201k vs expectations of 140k is the third month in a row of beating expectations for jobs and the highest add of jobs in 5 months. QE-off? Good is bad? Well there is some bad is good in here too - the manufacturing industry only added 3000 jobs. Perhaps, rather ironically, the rise in jobs is due to the election providing a stimulus - someone has to do all that fact-checking and empty-chair-lifting.  

Goods Producing Jobs - 16,000

Service Producing Jobs - 185,000

New Manufacturing Jobs - 3,000!

[PLMerite]

The question needs to be: “Is the total number of Americans with jobs more or less than it was last month?”

[KevinDavis]

Plus they tend to be less than the ADP numbers...

[Fully Awake DAV]

So....201K jobs per month...yet over 365K folks per “WEEK” filing for first time UI benefits.
How is this a plus?

[Wyatt's Torch]

Incorrect. There is always churn in the labor markets. Hundreds of thousands of people are hired and fired each week. The non-farm payroll numbers are, in effect, the net of the two. If the economy expands by 100,000 jobs in a month the the hirings exceed the firings by 100,000. BTW the non-farm payroll number will be announced tomorrow at 8:30 along with the unemployment numbers. this was the ADP report and is supposed to be relevant because of their payroll processing data. There hasn’t been a whole lot of correlation between the ADP numbers and the NFP numbers.

[wayoverontheright]

ADP is Frank Lautenberg’s company.

‘Splains a lot, no?

[Dogfaced Soldier]

Not surprising when you consider that Sen. Frank Lautenberg (D)is the former CEO and President of ADP and that its current Chairman, Leslie A. Brun contributed $25,000 to a Democrat during the 2008 elections.

[Longbow1969]

So, it's 201,000 new jobs for the MONTH, with 370,000 new claims for unemployment per WEEK.

You are confusing reports and really should refrain from comment till you understand them. The weekly new claims report and the monthly NET jobs report are different. Also, this is the ADP monthly report, not the official government one anyway.

The weekly report is only referring to new claims. It doesn't factor in people who have found jobs for that week. The monthly report(s) is a NET job gains or losses. The US economy is huge and there are hundreds of thousands both losing and finding jobs each and every week.