Posted on 07/05/2012 6:35:25 AM PDT by Qbert
The ADP Private jobs report is out, and in June America allegedly created 176K private jobs, better than expectations of 100K, and up from last month's 136K revised print. What hasn't changed is the continued lack of correlation between the ADP and the NFP report, nor the ongoing deterioration in claims. More importantly, Obama's promise of doubling US exports in 5 years from 2 years ago may be in jeopardy, since of the 176,000K extra jobs created, a whopping 4K was in manufacturing, the rest, or 160,000K, was service jobs.
[Snip]
And from the report:
Employment in the U.S. nonfarm private business sector increased by 176,000 from May to June, on a seasonally adjusted basis. The estimated gain from April to May was revised up slightly, from the initial estimate of 133,000 to a revised estimate of 136,000. Employment in the private, service-providing sector rose 160,000 in June, after rising a revised 137,000 in May. Employment in the private, goods-producing sector added 16,000 jobs in June. Manufacturing employment added 4,000, reversing May’s decline.
(Excerpt) Read more at zerohedge.com ...
Does anyone believe that 160,000 service jobs were created during the time that gas was almost $4/gal.? My hairdresser said her shop really has suffered because clients were coming in less frequently. She certainly didn’t hire another stylist. In fact, she had to fire one. Wonder how much credibility ADP still has.
ADP is only private sector. They don’t take into account public sector job losses, and furthermore they always overestimate. I predict around 100k total added for BLS. Which is pathetic 4 years into a so called recovery.
ADP was WAY off in March. So may be useless for June.
Bruvver Obama be savin’ us!
Manay of these service jobs are summer help and will be history in September
Oops, just noticed figures are seasonally adjusted. My mistake
Oops, just noticed figures are seasonally adjusted. My mistake
FBN is predicting 90K.
FBN is predicting 90K.
I'm predicting there will be 85 million jobs added! (Of course, seasonally adjusted)
"...pathetic 4 years into a so called recovery."
Yep. This is all we get under the Obama wreckovery - tiny, dubious upward blips... which are inevitably revised downward the next month; massive uncertainty and anxiety; foreclosures, etc. And it will only go downhill from here now that Obamacare/Obamatax has been forced upon us...
I predict “better than expected” job creation through November 6. On November 9 I predict an “unexpected” downward correction to the June-October job numbers.
We’ve had a bad experience with ADP. Overcharges, hidden fees, slow to cooperate in auditing the books. No sense of urgency when employees were in danger of not getting paid on time. We are looking for an alternative.
“I predict “better than expected” job creation through November 6. On November 9 I predict an “unexpected” downward correction to the June-October job numbers.”
Romney’s Fault!!
Someone has to dismantle and junk all of those bankrupt and useless “Green” factories that Obama poured billions into.
Well 85 million were added to SSDI but only 80 million got jobs and a good portion are temp jobs.
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