So is this bad news that is good? Or is it bad?
It’s so hard to keep up with the rules at the Wall St. casino.
Probably not being widely reported because you can't believe one d@mn thing the Biden regime says. It will be revised downward in a month or so anyway.
ADP numbers usually don’t match official government numbers.
That’s quite the rounding error…
It’ll get downgraded to -89,000 a couple of months down the road. The left always overestimates numbers when their person’s occupying the White House.
“US-based employers announced plans to cut 47,457 jobs in September 2023, well below 75,151 in August, according to a report by Challenger, Gray & Christmas, Inc. Still, “employers are grappling with inflation, rate increases, labor issues and consumer demand as we enter Q4,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said. In Q3, employers announced 146,305 cuts, a 92% increase from the same quarter last year, but down 22% from the 187,793 cuts announced in Q2. So far this year, companies have planned 604,514 cuts, the highest January-September total since 2020. Excluding 2020, it is the highest January to September total since 2009. Technology is leading with 151,989 cuts, followed by retail (70,713) and health care/products manufacturers (52,611). The top reason for job cuts so far this year is market/economic conditions with 225,319. In September, employers announced plans to add 590,353 jobs, up from the 380,014 announced a year earlier.”
And:
“The number of Americans filing for unemployment benefits edged higher by 2,000 to 207,000 on the week ending September 30th, below estimates of 210,000 and remaining close to the seven-month low of 202,000 from earlier in the month. In the meantime, continuing claims unexpectedly fell by 1,000 to 1,664,000 on the week ending September 23rd, well below estimates of 1,675,000 and remaining close to the near-eight-month low recorded previously, suggesting that unemployed individuals are having relative success in finding new jobs. The data added to evidence that the labor market remains at historically tight levels, pointing to added resilience to the Federal Reserve’s aggressive tightening cycle and adding leeway for rates to remain higher for longer. source: U.S. Department of Labor”
That’s a lot of new Uber and Door Dash drivers.
It will be revised downward, just like they do every time.
Harvest time
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.