holiday hires, wooooooooot !!!
They weren’t here in Florida. There is nothing here. Been trying to get a job for a year. 25 years of experience as a paralegal and nothing!!!!
The media will be having the vapors over this....
Added, then promptly let go after Dec. 25.
Even if this were true, we’re still over 12 million jobs (actual jobs lost plus the 1.5 million we had been adding every year that were not added since Obammie the Commie and his horse-faced empress started wiping their arses in the White House) in the whole. This isn’t going to change a thing.
ADP is only private hires, so comparing this number to the 175,000 is apples to pears. Also, the Labor Department number should be seasonally adjusted. Finally, ADP has not been a good predictive indicator for the last several months.
Increasingly the WSJ is pimping their paper.
In 2003, December hires were way up, the media called them McJobs and John Kerry said we had the worst economy since the Great Depression.
...As the “media” sets the narrative about Obama’s policies setting the economy on a wonderful new course to prosperity...
Obama only has to APPEAR to be having some level of success to be reelected. His “media” is in full campaign mode to make that happen.
I predict by April we’ll be told the BLS unemployment rate has dropped below 8%.
Of course, the accuracy of that number doesn’t matter... it’s all about the narrative of now.
Ho, Ho, Ho!
another fake and soon-to-be-revised number
I recall the recession of 2001 -- I was very disappointed with the conservative talk show hosts who all insisted that the household survey was correct (with it's 300,000 or 400,000 jobs) and the establishment survey's 26,000 jobs (often less) was wrong -- using it was a form of Bush bashing.
The household survey (of 60,000 families) counts jobs even if they pay nothing. The establishment survey (of 400,000 businesses) counts real jobs.
Tyler Durden's picture
Submitted by Tyler Durden on 01/05/2012 08:30 -0500
The US economic "indicators" have once again entered the magic unicorn-cum-Department of Truth zone as if to prove to China that when it comes to data fudging the US really can be unparalleled. The just released December ADP private payrolls jobs, which has been completely uncorrelated to the NFP for the past several years (R squared of 0.003), came at a ridiculous 325,000 jobs on consensus of 177,000 private jobs. As a reminder this is a carbon copy replica of what happened in December 2010 when ADP soared and the NFP disappointed materially. But all is fair in love and robotic kneejerk reaction stimulation: ES +5 points on this latest ridiculous datapoint. Oh, and proving the "validity" of the data is that the number was about 8 standard deviations above consensus - aka statistical noise.
Here is how the ADP number compares to consensus.
And the recent correlation between ADP and BLS, courtesy of Andrew Yorks:
The propaganda narative itself:
ADP today reported that employment in the U.S. nonfarm private business sector increased by 325,000 from November to December on a seasonally adjusted basis. The estimated advance in employment from October to November was revised down slightly to 204,000 from the initially reported 206,000.
The increase in December was the largest monthly gain since last December 2010 and nearly twice the average monthly gain since May when employment decelerated sharply. Employment in the private, service-providing sector rose 273,000 in December, which is up from an increase of 176,000 in November. Employment in the private, goods-producing sector increased 52,000 in December, while manufacturing employment increased 22,000.
Employment on large payrollsthose with 500 or more workersincreased 37,000, and employment on medium payrollsthose with 50 to 499 workersrose 140,000 in December. Employment on small payrollsthose with up to 49 workersrose 148,000 that same period, up from the 109,000 jobs created among small businesses last month. Of the 148,000 jobs created by small businesses, 18,000 jobs were created by the goods-producing sector and 130,000 jobs were created by the service-producing sector. Employment in the construction industry increased 26,000 this month, which is up from an increase of 17,000 in November. Employment in the financial services sector declined 1,000 in December.
I kinda wish that more people would have some faith in and some gratitude for the durability of US capitalism. The reports on increase in jobs takes into account adjustments for holiday hiring, so these jobs added are not simply jobs that will vanish after Christmas. The private sector should get due credit for its ability to help Americans in spite of the expanded govt’s attempts to tear it down.
I saw this coming a year ago, which is why I have NEVER written Obama off. The economy SHOULD have been doing this 2 years ago, but it doesnt matter for O, he’ll get his bump out of this. If the post holiday numbers look anything like this, the call him Mr. Second Term.
I’m curious...what were the headlines this time last year?
And 2 years ago?