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ADP "Cancels" 365,000 Private Jobs Created In 2012

Tyler Durden's picture




 

Frequent readers know that in addition of any "data" and "numbers" out of Larry Yun's National Association of Realtors, which we openly boycott as these are consistently manipulated (recall the massive historical December 2011 revision), slanted and conflicted, the second dataset which we have mocked with a passion is anything coming out of the ADP, which every month releases its "Private Jobs" number a day before the official BLS Non-farm Payroll data. Today, our mockeries have been proven 100% spot on. The reason? A week ago, ADP announced that going forward it would coordinate with Moody's (yes, that Moody's), and especially its chief economist, SecTres hopeful (InTrade odds of actually attain that post: 0.00) Mark Zandi, to fudge adjust its data going forward. The data revision was supposed to be publicly disclosed tomorrow when the official October ADP number was released. Well, just like today's Chicago PMI, and so many other data points recently, this too was released early. What the early release allowed us to promptly calculate is that using the historically revised numbers, and comparing those based on the original methodology, in 2012 alone, the US would have lost a whopping... 365,000 private jobs! Putting thus number in context, according to the revised methodology, the US has generated only 1.172MM jobs in 2012 through September, or in other words, a statistical "fix" magically eliminated over 30% of what the market had previously expected were job gains, a number which the incumbent president has certain taken advantage of on more than one occasions while campaigning.

The chart below shows the old data series (which can still be found at the St. Louis Fed), and the new series, which can be extracted from the advance leaked press release. The cumulative difference is the black line. It needs no explanation.

What is also of note, is that had ADP used its revised methodology, it would have missed 5 out of the past 7 Wall Street consensus estimates.

As an added bonus, whereas according to the previous release, which we were lucky enough to tag here, the US generated +4,000 manufacturing jobs in September, the new release indicates that in the same month, the US actually lost -17,400 manufacturing jobs. Perhaps it is time to rerun the Ohio presidential speeches one more time...

And that is how "precise" supposedly the far more accurate ADP (at least in comparison to the NFP's wild X-12-ARIMA extrapolated goalseeked data) was historically.

Basically the "job creation" in America is and has always been a function of an excel spreadsheet, and seasonal fudge factors, as ADP just definitively confirmed.  As such, we look forward to the next "revision" which will eliminate a further 1.1 million private jobs in 2012, showing an economy that has added virtually no jobs in the current year. Luckily, what ADP also did, was professional suicide, as after this "recasting", absolutely nobody, except for the BLS of course which will now be forced to do a comparable datarevision, will take the New Jersey based company, and especially its Moody's Joint Venture, seriously.

To summarize: "If you think America created jobs, it didn't. ADP made that happen."

Look forward to ADP re-revising its numbers tomorrow, to make them once again fit in with the general narrative that things in America are, contrary to every indication, getting better.

 

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Wed, 10/31/2012 - 13:42 | 2935067 surf0766
surf0766's picture

ADP=NAR

Wed, 10/31/2012 - 13:46 | 2935083 King_of_simpletons
King_of_simpletons's picture

Created or Saved

Matter = Energy

 

 

Wed, 10/31/2012 - 13:49 | 2935095 American34
American34's picture

Since bad news is good news now and the FED is targeting "employment" are we safe to assume that more QE is on the way since ADP is cutting their "job Creation" numbers in half. Also, since last month was QEternity is next month, "QEternity and Beyond!"

Wed, 10/31/2012 - 13:59 | 2935125 Pladizow
Pladizow's picture

Aaaaannnnnddddd its gone - will become an all too familiar meme!

Wed, 10/31/2012 - 14:01 | 2935133 NotApplicable
NotApplicable's picture

Along with, Daddy, what's a 'job?'

Wed, 10/31/2012 - 14:03 | 2935139 Dr. Richard Head
Dr. Richard Head's picture

Daughter: Mommy, where does money come from?

Mother: You see, when a central bank and a printer really lover each other.....

 

Wed, 10/31/2012 - 14:09 | 2935154 camaro68ss
camaro68ss's picture

This is what happens when you print jobs

Wed, 10/31/2012 - 14:14 | 2935169 redpill
redpill's picture

The problem is we didn't print enough jobs, if only we had pretended bigger, everything would have worked out.  Just like Europe.

Wed, 10/31/2012 - 14:24 | 2935194 knukles
knukles's picture

Zandi fudgetm

Hah ha ha ha ha ha ha

"The New Standard in Data Reliability"

 

brought to you in conjunction with Moody's collateralized ratings and the BLS

Wed, 10/31/2012 - 14:32 | 2935232 redpill
redpill's picture

No shit, if getting Moody's advice actually resulted in them revising it DOWN, they really must have been crazy high.

Wed, 10/31/2012 - 14:43 | 2935268 Gully Foyle
Gully Foyle's picture

Dr. Richard Head

Sandra Fluke will have no children due to the extreme usage of various expensive birth control methods.

Wed, 10/31/2012 - 15:24 | 2935435 Grinder74
Grinder74's picture

You see, when Daddies can't make enough money, or when a "marriage" only has two mommies, then Mommy has to spread her legs.

Wed, 10/31/2012 - 14:42 | 2935264 Gully Foyle
Gully Foyle's picture

NotApplicable

Heather has two momies.

Neither of which have ever participated in any type of "job" with the male oppressor.

Wed, 10/31/2012 - 16:45 | 2935647 larz
larz's picture

golly gully

Wed, 10/31/2012 - 13:59 | 2935128 macholatte
macholatte's picture

 

 

Wow!  The same thing happened to me (my boat was just a tad smaller).

 

Ship with 700 tons of gold ore disappears off Russia

http://www.myfoxorlando.com/story/19951564/ship-with-700-tons-of-gold-%2...

 

 

Wed, 10/31/2012 - 15:27 | 2935445 TheCanadianAustrian
TheCanadianAustrian's picture

From what I gather, 700 tons of ore might contain just a few pounds of gold.

Wed, 10/31/2012 - 15:43 | 2935495 Tinky
Tinky's picture

Presumably, next week you'll be reporting that the Giant's won the World Series.

Wed, 10/31/2012 - 15:46 | 2935503 akak
akak's picture

He'll be reporting that the Giant's what won the World Series?

Wed, 10/31/2012 - 15:53 | 2935526 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Since bad news is good news now and the FED is targeting "employment"

...then we should embrace the good bad news that the FED has been successful not only in targeting employment, but hunting it down and killing it wherever it may exist.

Wed, 10/31/2012 - 13:53 | 2935105 Skateboarder
Skateboarder's picture

When iSee anything related to number of jobs created or destroyed, iPuke. Law of conservation of jobs, bitchez: delta(jobs) = 0

In English, that can be read as "there were/are/will be no jobs."

Wed, 10/31/2012 - 15:50 | 2935515 Doubleguns
Doubleguns's picture

I am curious where on this labor participation rate chart can someone show me the added jobs.

http://data.bls.gov/timeseries/LNS11300000

 

 

 

Wed, 10/31/2012 - 14:44 | 2935271 Gully Foyle
Gully Foyle's picture

King_of_simpletons

Dude, like debt it's just numbers on a server.


Wed, 10/31/2012 - 14:15 | 2935172 ptoemmes
ptoemmes's picture

ADP = A Despicable Ponzi

I'm not entirely safisited with that one.

Wed, 10/31/2012 - 15:15 | 2935401 blunderdog
blunderdog's picture

Another Deceptive Propaganda-mill

Wed, 10/31/2012 - 15:18 | 2935415 FrankDrakman
FrankDrakman's picture

All Despairing Poltroons?

Anxiously Disappearing Plutocrats?

Always Dwindling Payrolls?

All Democratic Puffery?

Abysmally Dumb Predictions?

 

Wed, 10/31/2012 - 14:43 | 2935269 Gringo Viejo
Gringo Viejo's picture

Whoops................

Wed, 10/31/2012 - 15:15 | 2935403 Republi-Ken
Republi-Ken's picture

Dear Republican At Heart Tyler Durden,

AKA: BALLS OWNED BY WALL STREET

The number of jobs you are all pissed off about

created in 2012 so far @ 1.17MILLION...

EQUALS 9.5 MILLION JOBS CREATED OVER 8 YEARS.

Now that is about 10X what the Republican Stupid Son Bush created over 8 years BEFORE 2008 FINANCIAL SHITFUCK.

DUH! Republican Conservatives Always Forgetting The Facts When Its Convenient

Wed, 10/31/2012 - 16:14 | 2935591 JohnnyBriefcase
JohnnyBriefcase's picture

Aww look at this lil' guy!

 

He still believes in the right-left paradigm!

 

So cute! Can we keep him?!

Wed, 10/31/2012 - 20:30 | 2936167 A Nanny Moose
A Nanny Moose's picture

Just don't feed him after midnight.

Wed, 10/31/2012 - 15:23 | 2935430 Grinder74
Grinder74's picture

E-I-P-C

F-I-A-L

Wed, 10/31/2012 - 13:46 | 2935081 EscapeKey
EscapeKey's picture

Yes, but now it can't get worse.

Bullish!

Wed, 10/31/2012 - 14:25 | 2935201 knukles
knukles's picture

Here comes QEwhatevernumberitisnow

Wed, 10/31/2012 - 14:26 | 2935206 I Am Not a Copp...
I Am Not a Copper Top's picture

Exactly, but instead it should be (YAAAAAWWWWWWWWWWWN) Bullish.  Again.  As Always.

Wed, 10/31/2012 - 13:48 | 2935087 Lost Wages
Lost Wages's picture

Oh yeah! I thought I was still unemployed, but the statistics had me fooled for awhile.

Wed, 10/31/2012 - 14:16 | 2935176 Renewable Life
Renewable Life's picture

Be very thankful for SNAP cards, NFL football and that the NBA tips off tonight, otherwise with 33% of adult males out of work, you'd have an open violent civil war raging in this Country, like in every other third world Country with those kind of statistics!!!!

 

Wed, 10/31/2012 - 14:28 | 2935216 knukles
knukles's picture

Funny, I was thinking on my way to a meeting this morning just how we're devolving into something like an African peasantry with the hungry women and children in rags, shoeless ordered about by massive healthy overfed armed soldiers in pressed cammies scowling at everybody, doing what they might with impunity...

Wed, 10/31/2012 - 14:45 | 2935276 Gully Foyle
Gully Foyle's picture

knukles

Wow, what a shitty neighborhood you live in.


Wed, 10/31/2012 - 14:50 | 2935297 Karlus
Karlus's picture

Based on the location of red states vs blue, I would posit it would be a very quick and violent campaign. Their gun laws have done an amazing job of keeping blue states disarmed.

 

In addition, last time I checked the Northeast did not grow any food which could be problematic for them. California grows some, but my understanding their largest cash crop is a certain type of weed.

Wed, 10/31/2012 - 16:27 | 2935611 Renewable Life
Renewable Life's picture

"California grows some"?????? Are you serious... California not only grows everything you eat in America 90% of the year, but exports hundreds of billions in food products, I just read the ag report for 2011 for one of the smallest counties in CA, 500,000 population in the whole county, they produced 11billion dollars worth of ag related production!!!

I agree with you on the gun issue, but your dreaming if you don't think CA is the food production capital on the planet earth! It's produces more food per acre then anywhere on earth!!

Wed, 10/31/2012 - 17:04 | 2935692 Karlus
Karlus's picture

Ummm, yeah, about that 90% of produce from Cali....

 

Not so much

 

http://www.nass.usda.gov/Charts_and_Maps/Crops_County/index.asp

Thu, 11/01/2012 - 09:06 | 2937181 JimBowie1958
JimBowie1958's picture

I just read the ag report for 2011 for one of the smallest counties in CA, 500,000 population in the whole county, they produced 11billion dollars worth of ag related production!!!

WOW! Since when did the Feds start doing stats on marijuana production?

Wed, 10/31/2012 - 16:51 | 2935663 larz
larz's picture

I live in chicago I havent seen one red cent!!!!

Wed, 10/31/2012 - 13:51 | 2935101 Dr. Engali
Dr. Engali's picture

I'm sure CNBC will be all over this. They are a dedicated fact finding hard working bunch that will go to the ends of the earth to expose the truth.

 

Damn I'll have to go to confession over that whopper.

Wed, 10/31/2012 - 13:59 | 2935123 SmallerGovNow2
SmallerGovNow2's picture

Wonderful sarc Doc, LOL....

Wed, 10/31/2012 - 14:29 | 2935223 knukles
knukles's picture

Maybe, maybe but only maybe a passing mention....
To be drowned out in a nonsensical shouting match of the irrelevant and inane

Wed, 10/31/2012 - 13:51 | 2935103 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Don't tell the media, they are sleeping and need their rest.

Wed, 10/31/2012 - 14:00 | 2935129 EscapeKey
EscapeKey's picture

No, no, this is ok. Because these are old numbers, hence they are already priced in. They could in fact be cataclysmic, they would still be priced in.

Funny how that works in reverse when they're positive.

Wed, 10/31/2012 - 14:28 | 2935217 pods
pods's picture

It's like Calvinball.

pods

Wed, 10/31/2012 - 14:29 | 2935219 semperfi
semperfi's picture

watching porn

Wed, 10/31/2012 - 13:53 | 2935106 Cognitive Dissonance
Cognitive Dissonance's picture

"ADP "Corzines" 365,000 Private Jobs Created In 2012"

Fixed it for ya Tyler.

<I don't know what happened. They were just here. Honest to God!>

Wed, 10/31/2012 - 13:52 | 2935108 insanelysane
insanelysane's picture

I don't see how one of the largest payroll companies in the US needs to do anything to the data.  At the end of each month run "select count(unique (payee_id)) from paycheck table"

Wed, 10/31/2012 - 14:02 | 2935138 malikai
malikai's picture

No, raw numbers are unacceptable. The numbers must be adjusted by various metrics, heuristics, loltistics, and whatever. What will the people do with raw numbers? That's about as crazy as assuming they know what to do with their own money.

Now put your DBA hat down. It will do you no good in this world.

Wed, 10/31/2012 - 14:20 | 2935187 fuu
fuu's picture

"loltistics" is a great word.

Wed, 10/31/2012 - 14:47 | 2935284 Gully Foyle
Gully Foyle's picture

malikai

Dude people have no idea what to do with their money.

Really do you think all poor people exist because "the man" oppresses them?

Give somebody a hundred bucks and see if they pay a bill or buy drinks.


Wed, 10/31/2012 - 14:59 | 2935338 malikai
malikai's picture

No, I think we all tend to do plenty to oppress ourselves. But that hasn't got much to do with the question of whether or not we should have the right to our own production. Even stupid people have that right as well.

Wed, 10/31/2012 - 15:59 | 2935544 TheFourthStooge-ing
TheFourthStooge-ing's picture

Gully Foyle said:

Give somebody a hundred bucks and see if they pay a bill or buy drinks.

What if they use it to pay off a bar tab?

Wed, 10/31/2012 - 14:55 | 2935317 Karlus
Karlus's picture

Raw numbers also have the ability to be "off message" from the current "narrative." Understand that there is a "greater good" at play here. Dismal job numbers can be discouraging or troubling to the populace and helps no one.

Wed, 10/31/2012 - 14:06 | 2935143 tradingdaze
tradingdaze's picture

Your mistake is expecting a relational, normalized database.

 

Wed, 10/31/2012 - 13:55 | 2935114 CrabGrassKila
CrabGrassKila's picture

Zandi just isn't (polite), Manly,

 

 

Wed, 10/31/2012 - 13:56 | 2935117 Unprepared
Unprepared's picture

"The unemployment market has stabilized" ADP

Wed, 10/31/2012 - 14:06 | 2935144 insanelysane
insanelysane's picture

In early October, ADP hoped to get the contract to print govmint unemployment checks.  Apparently ADP did not get the contract.

Wed, 10/31/2012 - 15:20 | 2935419 HarryHaller
HarryHaller's picture

Maybe so, or maybe just not from this administration...

Wed, 10/31/2012 - 14:48 | 2935292 Gully Foyle
Gully Foyle's picture

Unprepared

No fucking way dude.

Until I see a line of unemployed white guys outside Home Depot working for Chinese wages, the unemployment market has not stabilized.


Wed, 10/31/2012 - 15:59 | 2935541 Flatchestynerdette
Flatchestynerdette's picture

sure it has. 365,000 people don't have a job, haven't had a job, an haven't been reported to have a job. What's the difference right? Same thing - no jobs. *smdh*

Wed, 10/31/2012 - 13:59 | 2935127 Drachma
Drachma's picture

How nice to see they're working overtime at the Ministry of Truth. What a farce.

Wed, 10/31/2012 - 14:00 | 2935130 govttrader
govttrader's picture

The jobs may be gone...but the S&P doesn't seem to have moved at all...

http://govttrader.blogspot.com/

Wed, 10/31/2012 - 14:00 | 2935131 Barry McBear
Barry McBear's picture

Tyler, adp cut ties with former FOMC member Larry "fed insider for sale" Meyer's Macroeconomic Advisors to join with Moodys.  Could Meyers firm be behind the severely upwardly biased numbers? Perhaps helping the fed improve confidence in the "recovery" by manipulating the jobs numbers was a way for the always competent Meyer to repay the fed for allowing him to sell all the insider info he gets from them.

Wed, 10/31/2012 - 14:04 | 2935141 asteroids
asteroids's picture

Dear ADP, why is this so damn hard for you. Just release the raw numbers, no statistical models need be applied. We'll draw our own conclusions.

Wed, 10/31/2012 - 14:04 | 2935142 Chartsky
Chartsky's picture

Obviously manipulated intentionally to affect next week's election.

Both "sides" make me sick!

There will soon be lynchings and rioting in the streets.

Electronic markets are already clearly fixed now, almost 100%.  The biggest reason there was such a push to get away from the pits.

Wed, 10/31/2012 - 14:21 | 2935146 Rainman
Rainman's picture

Paging Jack Welch...Jack Welch... please report to the Vindication Room immediately !

Wed, 10/31/2012 - 15:03 | 2935353 NoDebt
NoDebt's picture

Dammit!  You beat me to it.

Wed, 10/31/2012 - 15:57 | 2935539 Flatchestynerdette
Flatchestynerdette's picture

Jack Welch is in his mid-70s but the dude still has it going on. Immuelt can suck cheese whiz off of Obama's potatoes during their once a year business lunches to talk about how to get the country going. Seems the theme of the meetings was get the country going to china and put 365,000 people out of work in 2012 alone.

 

Wonder if they can backcheck to 2011 and see what the correction is for THAT?

Wed, 10/31/2012 - 14:07 | 2935148 Flaming Ferrari
Flaming Ferrari's picture

=More QE 

=Bullish

Wed, 10/31/2012 - 14:13 | 2935167 camaro68ss
camaro68ss's picture

how do you click on both arrows?

Wed, 10/31/2012 - 14:22 | 2935193 insanelysane
insanelysane's picture

is that you Mitt?

Wed, 10/31/2012 - 14:29 | 2935221 camaro68ss
camaro68ss's picture

its mittens to you

Wed, 10/31/2012 - 14:08 | 2935153 bugs_
bugs_'s picture

Deep Shah has moved to ADP???  Can I still make fun of Moodys?  Cope&Change.

Wed, 10/31/2012 - 14:10 | 2935157 khotel
khotel's picture

Is there any data point that will cause the markets to go all Baumgartner?  Doesn't look like it.

Wed, 10/31/2012 - 14:21 | 2935190 Quinvarius
Quinvarius's picture

Already moving the markets up.

Wed, 10/31/2012 - 14:22 | 2935191 edifice
edifice's picture

Jetson, yoooouuuu're cancelled!!

Wed, 10/31/2012 - 15:02 | 2935352 insanelysane
insanelysane's picture

What ever happened to Mr. Spacely?  Probably got spoken to by HR.

Wed, 10/31/2012 - 14:22 | 2935192 Rathmullan
Rathmullan's picture

Meanwhile, the confidence game board, I mean, the conference board, delayed release of its "all important" consumer confidence figure until to tomorrow for the safety of its employees and those that follow the measure (brian wesbury and steve liesman...when its improving). So expect a positive consumer confidence figure tomorrow as the conference board obviously doesn't want to waste the impact of the freshness of the positive surprise on this faux market, otherwise you can bet that a negative number would have been buried in Sandy's flying sand yesterday. 

Wed, 10/31/2012 - 14:26 | 2935196 grid-b-gone
grid-b-gone's picture

I never understood why ADP adjusts their numbers in any significant way. They are perfectly situated to report accurate data, especially for the private sector.

Paychecks cut and issued has to be about the best indication that someone has a job, and they also know the number of hours worked when that check is tied to an hourly wage.

The only adjustment warranted is when they lose a client and the month-over-month change needs to be adjusted accordingly.

How about simply reporting total paychecks issued with a few logical subsets:

Paychecks < 30 hrs (P/T hourly)

Paychecks > 30 hrs (full time hourly)

Salaried paychecks

Wed, 10/31/2012 - 15:52 | 2935524 Flatchestynerdette
Flatchestynerdette's picture

they also know if hourly wages are going up or down.

should be eezy peezy but some whiz kid with an app sold them the idea he was needed to run their jobs number division.

 

Wed, 10/31/2012 - 14:26 | 2935204 semperfi
semperfi's picture

What amazes me more is that people actually believe any of the "official" job numbers.

Wed, 10/31/2012 - 14:41 | 2935259 mayhem_korner
mayhem_korner's picture

 

 

...and the people most apt to believe the numbers are the ones without jobs. 

Wed, 10/31/2012 - 14:26 | 2935205 Offthebeach
Offthebeach's picture

There are tons of new economy jobs out there that aren't accounted for.
Roadside Nickle Canner Recycler.
Craigslist/Backpage Escort/Sex Worker.
Kidney/Organ Donor Broker.
Driveway Auto Repair/Detail Technician.
Pet Euthanasiaist.
Streetside Fried Cricket, Rat and Squirrel Vendor.
Day Labor Supervisor.
Basement Partion Builder.

Wed, 10/31/2012 - 14:32 | 2935231 Rathmullan
Rathmullan's picture

posse comitatus recruits and ammo reloaders too

Wed, 10/31/2012 - 14:42 | 2935263 Village Smithy
Village Smithy's picture

"Basement partition builder" caused a beverage spill here! It reminded me of a speach that POTUS gave early in his Presidency from a Home Depot telling the nation that having your windows recaulked, and adding insulation to the attic was the route to recovery.

Wed, 10/31/2012 - 14:45 | 2935275 knukles
knukles's picture

The guy is brilliant!

(sigh, I'll miss him...)

Wed, 10/31/2012 - 14:53 | 2935314 Uncle Remus
Uncle Remus's picture

iThingy screen cleaners

Wed, 10/31/2012 - 15:17 | 2935409 Abiotic Oil
Abiotic Oil's picture

Don't forget  Barry told us that, "We could save all the oil that they’re talking about getting off drilling – if everybody was just inflating their tires?"

Wed, 10/31/2012 - 14:58 | 2935334 Karlus
Karlus's picture

Please also add

Defragging hard drive

Using the self checkout at the grocery

Completing your own taxes (you will require a license for that next year)

Teeth cleaning

Wiping

 

Wed, 10/31/2012 - 15:08 | 2935378 knukles
knukles's picture

I've honestly been thinking about hiring somebody to scratch my back, pick zits, trim my toenails and otherwise fuss over my body.
TSHTF again and probably be plenty MBAs and PhDs looking for unsettling, unsavory, no redeeming value, absent of any sense of self worth worse than your first day in the recovery center employment, cheap.

Wed, 10/31/2012 - 15:21 | 2935423 blunderdog
blunderdog's picture

There's ALWAYS opportunity out there for a motivated individual.

The other day I was walking through a section of Chinatown and noticed about a dozen shopping-carts chained and padlocked to street-signs to keep people from "stealing" them.  I realized this was how the recycling collectors protect "their" shopping carts for gathering/transporting cans and bottles.

So it seems to me that "Shopping Cart Repo-Man" should be a position with a lot of current employment potential.

The life of a repo-man is always intense.

Wed, 10/31/2012 - 15:55 | 2935533 insanelysane
insanelysane's picture

Awesome movie reference.

If only in 2012, every car had a "pine tree" air freshener, the GDP would be higher.

Wed, 10/31/2012 - 16:35 | 2935622 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

So it seems to me that "Shopping Cart Repo-Man" should be a position with a lot of current employment potential.

According to Bubbles, shopping carts can be a gold mine, but you don't get unemployment if you're out of work:

http://www.youtube.com/watch?v=9ZX91SyQVsA

Wed, 10/31/2012 - 17:34 | 2935749 blunderdog
blunderdog's picture

If you have access to a foundry, you can melt them down to mint your own chrome-steel coinage, too.  HUGE potential.  Just look at the numbers!

Wed, 10/31/2012 - 14:26 | 2935207 irie1029
irie1029's picture

So that means we are doing good!  right.  I mean we all have phones and really its not that bad.

Wed, 10/31/2012 - 14:26 | 2935209 Caracalla
Caracalla's picture

Looks like stocks will end green today despite all of the bad economic news and destruction caused by the storm.  At least my miners and PMs are surging.  Doesn't make a whole lot of sense..... 

Wed, 10/31/2012 - 14:35 | 2935242 houserich
houserich's picture

Larry, you're my hero.

Wed, 10/31/2012 - 14:36 | 2935243 Shizzmoney
Shizzmoney's picture

Those jobs got rehypothecated (aka temp jobs).

Wed, 10/31/2012 - 14:39 | 2935252 mayhem_korner
mayhem_korner's picture

 

 

I walked into an office the other day and there were "Your Job Has Been Canceled" signs taped to people's chairs.  Now I understand why...

Wed, 10/31/2012 - 14:46 | 2935278 jefe95
jefe95's picture

Dang

 

Another early release.  I hate it when that happens.

Wed, 10/31/2012 - 15:06 | 2935368 insanelysane
insanelysane's picture

Usually leaves a mess.

But why an early release???  Is it to make tomorrow's number of 80k seem bullish or at least stable, instead of heading off a cliff?

Wed, 10/31/2012 - 14:48 | 2935280 Village Smithy
Village Smithy's picture

That dude Biderman from Sausalito,CA has it right. As long as payroll tax revenue is flat and debt is increasing parabollicaly, no jobs are being created.

Wed, 10/31/2012 - 14:49 | 2935282 earleflorida
earleflorida's picture

the first step too recovery is admitting you have a problem... and then the true healing process? begins...

economic rehab 101

BRAVO Tyler !!!

Wed, 10/31/2012 - 14:47 | 2935285 ptoemmes
ptoemmes's picture

So, they'll be cancelling about 500 points in the S&P when you say?

Wed, 10/31/2012 - 14:51 | 2935307 Being Free
Being Free's picture

the US actually lost -17,400 manufacturing jobs

Holy shit D-Day, there were blanks in that gun!

Wed, 10/31/2012 - 14:56 | 2935318 loveyajimbo
loveyajimbo's picture

Fuggin' Obongo... what are the odds that the MSM will cover this in detail... just like they are covering the Benghazi coverup...???  What is the latest on fast and furious??  Will this toxic 'roid be able to run out the clock before all this shit hits his fan???  And doesn't a Soros owned company provide the vote counting machines???  Judas, I think we are screwed again... where can I get a prayer rug, a catamite and some really foul body odor?

Wed, 10/31/2012 - 15:10 | 2935346 Questan1913
Questan1913's picture

Let's be clear.  Misinformation is intended to position the 99 percent for shearing by the financial swindle class; in other words malinformations'  specific goal is to have the sheep obtaining new credit/DEBT, buying stocks/bonds, spending savings (because it's "safe" now, etc just before and leading up to the next engineered or delayed crash....  They are always positioning their victims on the wrong side of a massive trade they intend to make in the future.  The trap is then sprung when enough of the beguiled have fallen into it such as when the stock market was crashed in 2008/2009 at the same time the financial cartel was bailed out.  This was necessary to tide them over until the carnage was over and losses had been dumped on the 99'ers, again, just like during 1929 and 1930.

I am for repealing 90% of the laws currently on the books at the federal level and adding just one new law applicable to government, media, large corporations and most importantly the gigantic cartels such as those dominating the health and financial sector, among others. 

Simply put it would proscribe our eras most prominent institutionalised sociopathic behavior, which forms the bedrock that their swindles are built upon and could be (bluntly) summarised as follows:  YOU LIE, YOU DIE

Wed, 10/31/2012 - 15:13 | 2935393 NoDebt
NoDebt's picture

So they are VOLUTARILY fessing up to changing their models?  Nobody does that unless they were about to get called on the carpet against their will.

Which means, probably all they did was split the difference between the "fudged" number and the real one.

So for September....

+162K original reported

+88K "corrected model" reported, so if this is the "splitting the difference" number that means.....

+14K FOR REAL, FOR REAL (as they said in my old neighborhood).  Probably about right.

Wed, 10/31/2012 - 15:13 | 2935395 Republi-Ken
Republi-Ken's picture

Dear Republican At Heart Tyler Durden,

AKA: BALLS OWNED BY WALL STREET

The number of jobs you are all pissed off about

created in 2012 so far @ 1.17MILLION...

EQUALS 9.5 MILLION JOBS CREATED OVER 8 YEARS.

Now that is about 10X what the Republican Stupid Son Bush created over 8 years BEFORE 2008 FINANCIAL SHITFUCK.

DUH! Republican Conservatives Always Forgetting The Facts When Its Convenient

Wed, 10/31/2012 - 15:27 | 2935447 thedrickster
thedrickster's picture

Dear Life-As-Dodgeball Perpertual Adolescent - Presidents don't create jobs.

Wed, 10/31/2012 - 15:59 | 2935545 blunderdog
blunderdog's picture

They don't drive up the deficit through entitlement spending either....what's your point?

Wed, 10/31/2012 - 15:44 | 2935497 Flatchestynerdette
Flatchestynerdette's picture

ADP is doing this for one reason: Politics. They're getting ready for a Romney win and so with more areas of coverage there's more reason for upticks in unemployment under a Republican presidency.

I can't wait to see how they come out with - 365k jobs a few days before the election because we all know the BLS is a shill for O at this time.

 

One of these days, on their way out, the president who is leaving has to tell the BLS to change their methodology and thus take the hit to his/her presidency but we'll all know that was the change over so its a mulligan and they'll look like Captain America - which is way good for a gov't official.

 

 

 

Wed, 10/31/2012 - 16:01 | 2935550 blunderdog
blunderdog's picture

No meaningful change can occur politically until/unless we get someone elected who is *neither* D nor R.

The current major parties like everything just as it is.

Wed, 10/31/2012 - 15:49 | 2935513 Dan Conway
Dan Conway's picture

Another Doubtful Prognostication

Wed, 10/31/2012 - 15:54 | 2935528 batterycharged
batterycharged's picture

Does anyone think Obama benefits from this noise, honestly?

Most people see the economy first hand. So when you have been unemployed for 3 years and can't land a job at McDonalds, what are the odds you're going to believe the lies?

 

Wed, 10/31/2012 - 16:06 | 2935561 Dan Conway
Dan Conway's picture

No one really believes this will change the election.  This is just giving the media some cover so when they look foolish when Romeny wins they will blame the bamster's mishandling of Sandy and Benghazi.  Most people made up their mind before the first debate, and the rest by the 30 minute mark of the first debate.  Most people know that obama failed and those that cared just needed to make sure that Plan B wasn't too bad. Mitt certainly looks presidential and sounds reasonable and that is enough for most people.  In reality, what can the president really do?  Too bad more people won't think more about candidates that really can help/hurt their lives like city delegates and mayors, state legislatures, governors, etc.  Bush didn't screw up Detroit, Baltimore, Philly, LA, Chicago, DC, etc. just like Obama couldn't help them.   And in all of those communities and states, they keep sending the same morons that are robbing them blind. 

Wed, 10/31/2012 - 15:54 | 2935529 Dan Conway
Dan Conway's picture

Do the ADP PR people laugh at this garbage when they release these onion-like reports?  This is just plain sad and these news regurgitating organizations just blindly spew this crap.  We knew it was a joke a month ago and the usual people laughed at us.  And now, they will just keep laughing at us.  This ponzi scheme is going to end badly and we will likely get the last laugh even though it won't be very comforting. 

Wed, 10/31/2012 - 17:01 | 2935684 css1971
css1971's picture

It looks like the company is simply part of the propaganda arm of the democratic party. They'll be paid handsomely for their reports.

Thu, 11/01/2012 - 13:14 | 2937983 toomanyfakecons...
toomanyfakeconservatives's picture

More lying with statistics.

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