Posted on 11/30/2011 7:15:27 AM PST by SeekAndFind
Hot day!
Huge beat!
Analysts were expecting 130K new jobs, but instead ADP just reported that there were 206K new private payrolls added in November.
Also the previous month was revised up from 110K to 130K.
Combine that with the big global coordinated intervention among the world's central banks, and you've got the brew for a gigantic rally today.
(Excerpt) Read more at businessinsider.com ...
Will it be adjusted downward next month?
Another 45 million and we’ll be back to 2007!!
Surprising development! Unexpected! Obama has done it again!
Just ask anyone..../sarc
Hooray! Obama’s doing everything right!!! Woo-hoo!!!!
Expect more of this up through next November.
Barf...
From Zerohedge:
According to ADP:
“The increase in November was the largest monthly gain since last December and nearly twice the average monthly gain since May when employment decelerated sharply.”
Of course, this is not to say that America is actually making anything: “Employment in the private, service-providing sector rose 178,000 in November, which is up from an increase of 130,000 in October. Employment in the private, goods-producing sector increased 28,000 in November, while manufacturing employment increased 7,000.”
Still, surely, the unemployed among the 99% will be delighted to know they were actually working all along.
Just a mild seasonal spike to temporarily staff up for Christmas shopping.
RE: Will it be adjusted downward next month?
The previous month was revised up from 110K to 130K. we’ll have to check for several months to see if this is a trend.
Toys R Us hired thousands of part time workers for the Christmas season. Unfortunately, they will be unemployed on Dec. 25.
Didn’t know there were that many in the NBA.
Temp jobs for the Christmas season. The overwhelming majority will be gone right after Christmas. My wife works retail and she tells me their numbers are way off last year, despite the media’s claims. They’re already laying off temps and cutting back her hours, as well as other long time employee hours.
Malazy...
NRSC Releases Great New Ad Showing Striking Parallels between Barack Obama and Jimmy Carter – Video 11/29/11
—They’re already laying off temps and cutting back her hours, as well as other long time employee hours.—
I’ve been wondering about this. Nobody ever heard of black friday a few decades ago. It inched it’s way into the common vernacular until it has become a huge event. Problem is, it is clearly becoming “the weekend” that people do ALL of their Christmas shopping.
Heck, we moved to Kentucky four months ago and planned from day one to buy a TV for the place on Black Friday. We did. But we will not be hitting the stores again for anything Christmas related.
If this is private payroll data and not seasonally adjusted, 1) the “experts” once again didn’t have a clue; 2) since 100k jobs seems to be the normal monthly average, an additional 100k jobs at the start of the Christmas shopping season is a pretty small number when you spread that across the nation. Maybe someone can come up with the ratio of temp workers per 10,000 shoppers or something similar; 3) it would be great news if this foretold a climb out of the abyss but past experience keeps me in the skeptic column.
In a different article, I read "much of the gains were from UPS adding seasonal workers for the holiday season."
January's numbers are really going to be in the toilet.
I wuz jus gonna post duh same ting...
When Jan, Feb 2013 reports come in, it will be the death bell for Barry Soetero’s 2nd coming.
Nope, they will stay on the roles through the week of the 25th through the 1st.
Then the layoffs begin and will be final by January 10th as all New Year’s sales will have ended by then.
Still, there will be no further uptick in employment of any appreciable numbers for the next two years, not discounting holiday sales seasons or weekends.
Christmas jobs
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