These private sector jobs have been almost the same each month, all year long. So no real improvement.
Administration again “managing” numbers and lowering expectations so they can crow when they come in higher.
Every single week we see the previous weeks numbers revised downward for the new jobless claims report. Nothing coming out of Washington can be trusted.
U.S. employers announced the most job cuts in more than two years in September, led by planned reductions at Bank of America Corp. (BAC) and in the military.
Announced firings jumped 212 percent, the largest increase since January 2009, to 115,730 last month from 37,151 in September 2010, according to Chicago-based Challenger, Gray & Christmas Inc
It will take a few months of retro adjustments to add in all those layoffs.
Meanwhile normal average population growth in September was 150,000 plus 125,000 new legal workers were brought into the country for a total of 275,000 new workers.
Ignoring questions about the +91,000 jobs such as are they full time, what do they pay, that makes payroll jobs at a net -184,000.
I’m thrilled! /sarc
Obviously, they "cooked the books" and are LIEING.
Nothing new...same old BULL$HIT!!
ADP numbers are so “noisy” and have such low skill at predicting the BLS release that they have no value at all, really.
Part of how I manage the non-stop river of noise posing as information is to examine the value of each “indicator” that gets released on a monthly/quarterly/annual basis and draw up a chart of “rapt attention/make note of/ignore” that should be done with it.
If that's the case, isn't the "zero net new jobs" actually in negative territory for August?
Investors are panicking. Businesses are being raided. Regulations are crushing investment. Companies are hoarding money.
We are about to enter into what Greece is experiencing only we'll do it in one steep drop because there's no one to catch us.