89,000 jobs added in September. I'm not hearing this anywhere....maybe I missed it?

CNBC ^ | 10/4/2023 | CNBC

[mikelets456]

ADP reported that private job growth totaled just 89,000 for the month, down from an upwardly revised 180,000 in August and below the 160,000 estimate from Dow Jones. Job gains came almost exclusively from services, which contributed 81,000 to the total. The report comes a day after the Labor Department said job openings unexpectedly rose sharply in August.

[moovova]

That’s a lot of new Uber and Door Dash drivers.

[roving]

It will be revised downward, just like they do every time.

[Myrddin]

ADP numbers usually don’t match official government numbers.

ADP pulls the numbers from their databases populated by paying customers with real payrolls. The government numbers are pulled from an interior colon space of a dimwit government employee. Fabricated political BS.

[Myrddin]

A missing detail is that manufacturing backlogs are very low. There is little work to do and little product to produce. The stores are ramping up for holiday sales, but may be disappointed at availability of product to sell. When that craters, the temporary holiday help will be terminated. Even manufacturers blessed with good backlogs are stifled by supply chain problems to execute on the backlogs.

There is concern that oil will rise to $150/barrel and drive diesel fuel north of $7/gallon. It will be uneconomical to run the big rigs. That will bring empty shelves.

[Red Badger]

That’s the ‘plan’.......................

[EBH]

ADP, Fed numbers on FRI

[pas]

Lots of job openings but nobody hired anyone.

[Vaduz]

Harvest time

[Organic Panic]

Things are stagnant in my industry. It picked up a tiny bit post pandemic but now as bad as pandemic levels but now with the fun of Bidenflation.

[SunkenCiv]

• The private sector added just 89,000 jobs last month, far below expectations [10/04/2023]
• Slowdown! ADP Jobs Added Slows To +89k As Credit Card Delinquencies At Small Banks Hit Highest Level Even Recorded (7.51%) [10/04/2023]