Posted on 07/05/2006 9:14:01 AM PDT by Toddsterpatriot
WASHINGTON (MarketWatch) - U.S. payroll growth probably expanded at a healthy rate in June, according to the ADP national employment index released Wednesday. U.S. private-sector nonfarm payrolls increased by about 368,000 in June, ADP said. This is the largest monthly increase in employment since the ADP index was created five years ago. Read full survey. "These findings indicate a strong acceleration of employment in June," said Joel Prakken, chairman of Macroeconomic Advisers, the economic forecasting firm that computes the ADP index from anonymous payroll data provided by Automatic Data Processing
The Labor Department will report on the June figures on Friday. Economists expect a gain of about 160,000 jobs, including government employment. See Economic Calendar. In May, the ADP report showed 122,000 net new jobs, while the Labor Department's survey indicated 67,000 new jobs in the private sector. The ADP sample is taken during the same week of the month as the government survey, using similar techniques to sample data from about 225,000 business sites covering about 14 million workers. ADP provides payroll and human resources services to about one of every six U.S. workers, at more than 500,000 companies The ADP index is constructed to mirror the government report in coverage of industries, firm size and region, Prakken said. Greg Robb is a senior reporter for MarketWatch in Washington.
Still doomed.
Hey, why haven't I heard this on the Dinosaur Media?
Not good for the stock market.
Stocks fall on N. Korea, jobs data
So the spin is that the job situation is still bad because stock prices have gone down. Then again, stock prices have gone up since Al-Reuters posted this take, so we can expect a revision.
If the BLS numbers look like this, then Bernanke isn't even close to being done...
Or that you can't believe government stats, just what you can see with your own eyes.
That kind of talk makes me wonder if I want to laugh or swallow aspirin. It's a mixture of hilarity and agony --reminds me of reading Dilbert.
Did anyone else who has Automatic Deposit through ADP not get paid until Monday? This seems to happen when Holiday Weekends roll around. The excuse I get is that The Fed sits on payrolls.
Blame BUSH
Can I ask a dumb question? On all the financial threads I see the name Willie Green is saddenend. Who is willie green?
A whiner who was finally banned.
I do not believe the ADP numbers in this case. Maybe they have beem right in the past, but this time most likely there is something wrong.
What is the basis for your belief?
The Household Survey, which takes into account jobs not counted by the Payroll Survey, is always well above the Payroll Survey which always undercalculates (is that a word?) the amount of new jobs. When you read the PS numbers, you are reading a survey that does the poorest job of calculating the amount of new jobs added.
You mean like at a BBQ with your family under the deck?
LOLOL!!
It's his perpetual state of being.
LOL
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.