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Did the U.S. economy really lose jobs in June for the first time since the pandemic? Payroll king ADP says yes, but investors ought to treat the report with a heavy dose of skepticism. ADP on Wednesday said the private sector eliminated 33,000 jobs last month owing to lingering uncertainty caused by U.S. trade wars. The decline in employment was the first ADP has measured since March 2023.

The U.S. private sector lost 33,000 jobs in June, according to new data from payroll-processing firm ADP, marking a sharp reversal from expectations of continued employment growth and raising fresh concerns about the labor market’s trajectory. Economists surveyed by Econoday had forecast a gain of 103,000 jobs for the month. Instead, the report released Wednesday morning showed the first monthly decline in private-sector employment since January 2021. Manufacturing, which had been a weak spot in the labor market, added a solid 15,000 jobs. Construction added 9,000 jobs. Natural resources and mining, which includes oil and natural gas extraction, added 8,000...

Companies in the private sector lost 33,000 jobs in June, payroll processing firm ADP said Wednesday.

Apple is taking the unprecedented step of removing its highest level data security tool from customers in the UK, after the government demanded access to user data. Advanced Data Protection (ADP) means only account holders can view items such as photos or documents they have stored online through a process known as end-to-end encryption. But earlier this month the UK government asked for the right to see the data, which currently not even Apple can access. Apple did not comment at the time but has consistently opposed creating a "backdoor" in its encryption service, arguing that if it did so,...

The government now has access to its citizens messages and camera roll. This is the biggest breach of privacy Western civilisation has ever seen. Britain is in big trouble.

Private sector job creation slowed further in November and wages showed their smallest growth in more than two years, payrolls processing firm ADP reported Wednesday. Companies added just 103,000 workers for the month, slightly below the downwardly revised 106,000 in October and missing the 128,000 Dow Jones estimate. Along with the modest job growth came a 5.6% increase in annual pay, which ADP said was the smallest gain since September 2021. Job-changers saw wage increases of 8.3%, making the premium for switching positions the lowest since ADP began tracking the data three years ago.

Omicron has taken a much bigger bite 0ut of the labor market than expected, data from payroll processing firm ADP indicated Wednesday. The number of workers on private payrolls fell by 301,000 in January, falling far short of expectations for growth of 225,000 jobs. This was the first decline in payrolls reported by ADP since 2020. The leisure and hospitality sector shed 154,000 jobs. Trade, transportation, and utilities dropped 62,000 workers. Other services saw payrolls decline by 23,000. Health and education jobs fell by 15,000. Information technology jobs fell by 8,000 and financial services sank by 9,000. Manufacturers cut 21,000...

Companies shed 301,000 jobs last month, sharply missing the 207,000-job gain that economists surveyed by Refinitiv had predicted and a major drop from the downwardly revised gain of 776,000 in December. It marked the first time that ADP reported negative growth since December 2020, when companies shed 123,000 jobs before the vaccines were available.

A top economist at the ADP Research Institute slapped down the asinine leftist narrative that the United States is experiencing explosive jobs growth. ADP Chief Economist Nela Richardson joined CNBC Squawk Box following the shocking news Jan.12 that inflation had spiked a whopping 7 percent year-over-year in December, the highest level since 1982. After noting that real wage earnings, “which are negative,” Richardson said whatever wage increases the media has been propping up as a bellwether for a peachy economy was driven by “labor shortages.” Richardson then dropped the hammer: “The economy — and this is an important point —...

Businesses in the United States expanded their payrolls by just 167,000 in July, according to a report from payroll processor ADP. Economists had forecast around 1.9 million, with a range between 750,000 and 3.3 million, according to Econoday. In a sign of the extreme levels of uncertainty around jobs numbers in the pandemic era, economists surveyed by Dow Jones forecast a 1 million jobs gain.

Police in Germany launched dozens of raids across the country on Thursday as part of a crackdown on incitement crimes being spread on the internet. The Federal Criminal Police Office (BKA) has said it searched residences in 13 federal states as part of a coordinated operation. One of the largest operations took place in the western city of Koblenz, where the apartments of 12 suspects were searched in connection to two right-wing extremist Facebook groups. The 12 suspects were between the ages of 45 and 68, and were believed to be responsible for the groups called “The Patriots,” and “Our...

Wait, I owe the IRS? The first tax filing season under the new federal tax law is proving to be surprising, confusing - and occasionally frightening - for some Americans, especially those accustomed to getting money back from the government. Take Andy Kraft and Amy Elias of Portland, Oregon. The couple had grown comfortable getting a small refund each year, a few hundred dollars or more. Then they found out they owe $10,160 this year. "I will never forget the moment, I thought 'We look good' and then we added in the next W-2 and my jaw hit the floor,"...

Companies kept up the hiring pace in March, adding 241,000 positions as employment in construction and manufacturing surged, according to a report Wednesday from ADP and Moody’s Analytics. Economists surveyed by Reuters had been expecting the report to show that private payrolls had gained by 205,000. This was the fifth straight month that the ADP/Moody’s count showed private payrolls up by at least 200,000, though March saw a slight decline from the upwardly revised 246,000 in February. On a year-over-year basis, March 2018 nearly doubled the 122,000 total from the previous year. “The job market is rip-roaring,” Mark Zandi, Moody’s...

* Private companies added 241,000 positions in March as employment in construction and manufacturing surged, according to ADP and Moody's Analytics. * The report was well ahead of Wall Street estimates for 205,000 growth and marked the fifth straight month that private payroll growth topped 200,000. * Service providers added 176,000 new jobs while goods-producing industries contributed 65,000. * "The job market is rip-roaring," says Mark Zandi, Moody's Analytics' chief economist. Companies kept up the hiring pace in March, adding 241,000 positions as employment in construction and manufacturing surged, according to a report Wednesday from ADP and Moody's Analytics. Economists...

Hot on the heels of a tax overhaul that the GOP has promised will yield stronger wage and job growth in 2018, American employers generated 234,000 new jobs in January, according to a report published Wednesday by the ADP Research Institute. The gains are a slight step down from the 242,000 jobs created in December, but they still represent the fourth consecutive month ADP has recorded job growth above 200,000 positions. Given that the U.S. is now more than eight years into its economic recovery, analysts have been impressed by the labor market's consistency over the past several months. "The...

U.S. companies added the most workers in seven months in October as hiring rebounded from an 11-month low set in September stemming from Hurricanes Harvey and Irma, a report by a payrolls processor showed on Wednesday. The ADP National Employment Report said private employers hired 235,000 workers last month, exceeding a median forecast of 200,000 among economists polled by Reuters. Domestic private payrolls in September were revised down to an increase of 110,000 from the previous 135,000. The report is jointly developed with Moody’s Analytics. “This labor market is tight and is destined to be tighter,” Mark Zandi, Moody’s Analytics...

Following January's surge in employment (biggest gain in 7 months), February's ADP print exploded higher to 298k (5 sigma above all expectations). This is the third biggest monthly employment gain of the expansion. It appears the 'Trump Effect' is the biggest driver as the ADP payroll surge was mostly due to a record surge in employment for goods-producing industries.Private sector employment surged by 298,000 for the month, with goods producers adding 106,000. Construction jobs swelled by 66,000 and manufacturing added 32,000.3rd best month of the recovery: This is 5 standard deviations above the 187k expectation.... Led by a record surge in...

Private job creation slowed even further last month as firms added just 156,000 jobs in April, ADP said in a Wednesday report. "The job market appears to have stumbled in April. Job growth noticeably slowed, with some weakness across most sectors. One month does not make a trend, but this bears close watching as the financial market turmoil earlier in the year may have done some damage to business hiring," Mark Zandi, chief economist at Moody's Analytics, said in a statement. Economists polled by Reuters expected the number to come in at 195,000. In March, private payrolls were revised down...

If this comes close to the Bureau of Labor Statistics report on Friday, it will signal a decent if unspectacular start to the New Year. ADP estimates that employers added 257,000 private-sector jobs last month, an increase of 40,000 jobs over its estimate for November, and the best result for all of 2015: Private sector employment increased by 257,000 jobs from November to December according to the December ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP® in collaboration with Moody’s Analytics. The report, which...

Following its disapppointing tumble in July (having missed expectations for 6 of the last 7 months), August ADP printed another miss at 190k against expectations of a 200k rise with last month revised lower. As the energy sectyoir continues to bleed jobs at a rate of 10k per month, ADP's Zandi notes that manufacturing jobs growth is all auto-related (which is extremely worryinmg given the size of inventories). Job groiwth was largely driven by small businesses (85k) as opposed to large business (40k) with Service-producing goods drastically outpacing manufacturing job growth (173k to 17k). Perhaps most notably, ADP jobs...