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ADP Print Of 118K Misses Expectations, Drops; Manufacturing Jobs Decline For Fifth Month: Zandi Blames Sandy

Tyler Durden's picture




 

It was only logical, not to mention rhyming, that the new overlord of the ADP private payroll cheat sheet, Moody's Mark Zandi, would blame hurricane Sandi for today's miss in ADP private jobs, which printed at 118K, below expectations of 125K, and well below last month's downward revised 157K. To wit from Zandi: "Superstorm Sandy wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls. The manufacturing, retailing, leisure and hospitality, and temporary help industries were hit particularly hard by the storm. Abstracting from the storm, the job market turned in a good performance during the month." And abstracting from reality, theoretical central planning might work. More importantly for Obama's "create 1 million manufacturing jobs in 4 years task" f(a)rce, November saw yet another 16,000 manufacturing jobs lost. Fear not though: these were almost offset by the 13,000 highly "productive" financial jobs created in the past month - perhaps all were insurance liability estimators? Finally, with Friday's NFP forecast at 87K, on a range of 15K to 145K, today's ADP report is merely yet more of the same very loud noise we have grown to love and expect from the firm which mysteriously pulled a NAR and revised its 2012 YTD jobs several weeks ago by a few hundred thousand.

Those hoping small business may be finally regaining their place at the forefront of job creation, will be disappointed: only 19K jobs were created by Small businesses:

And some other pretty charts from the ADP:

Change in Nonfarm Private Employment (in thousands):

Historical Trend – Change in Total Nonfarm Private Employment (in thousands):

Total Nonfarm Private Employment by Company Size (in thousands) 

Change in Total Nonfarm Private Employment by Selected Industry (in thousands)

Source: ADP

 

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Wed, 12/05/2012 - 09:35 | 3035158 cossack55
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Name one sentinent human being who gives one fuck what Zandi spews forth for his masters. Fuck that Zandi piece of shit.

Wed, 12/05/2012 - 09:37 | 3035163 HelluvaEngineer
HelluvaEngineer's picture

Silly rabbit.  ADP only matter when it beats expectations.

Wed, 12/05/2012 - 10:40 | 3035404 SamAdams
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Ask a banker: Manufacturing and agriculture are heavily taxed due to tangible materials used in input and output.  Services are not created from real materials and are therefore easy to shelter.  Now why would anyone in the USSA want to be a manufacturer?

Wed, 12/05/2012 - 11:06 | 3035539 Atlasshruggedme
Atlasshruggedme's picture

Depends on where you fit.. There are some production and munfactures that use good business models. Companies the embrace the furture and tech will last the longest. For example, new start up company PRLB, uses computers and technology to cut costs vs cheap labor (AKA China) I think they are a internet company, which for the time being reduces the taxes paid by the consummer. 

Wed, 12/05/2012 - 09:39 | 3035164 SheepDog-One
SheepDog-One's picture

Should be great in the opinion of hockey-helmeted algobots I'm sure as they'll buy everything in sight with FED money and pile the bullshit higher. And like ObaMao and TimmyG say, our only real concern is lifting debt ceiling to infinity, gotta have that.

Wed, 12/05/2012 - 09:38 | 3035167 Notarocketscientist
Notarocketscientist's picture

Zandi is a cocksucking dirty stinky rat bastard Son of a Bitch.

Wed, 12/05/2012 - 09:48 | 3035198 azzhatter
azzhatter's picture

Another fucking robot who mimics Sandy to any bad news.

Wed, 12/05/2012 - 09:49 | 3035204 Stuart
Stuart's picture

tell us what you really think of Zandi, don't hold back now....

Wed, 12/05/2012 - 09:53 | 3035213 yogibear
yogibear's picture

Zandi obey's his Wall Street masters. Wasn't Moody involved in rating trash debt as triple A?

Same players that caused the housing bubble are still playing and scheming. It's on to the next Ponzi/scam.

 

Wed, 12/05/2012 - 09:38 | 3035169 doomandbloom
doomandbloom's picture

u mean Sandy did not create jobs?! but Krugman said...

Wed, 12/05/2012 - 09:44 | 3035183 GetZeeGold
GetZeeGold's picture

 

 

By definition, disasters are always handy for fixing stuff.

Wed, 12/05/2012 - 11:09 | 3035563 Atlasshruggedme
Atlasshruggedme's picture

Like the Debt? The money to fix everything can't be paid by the owner... The government needs to help! (giggles) 

Wed, 12/05/2012 - 09:40 | 3035173 fonzannoon
fonzannoon's picture

Futures up. Santelli yelling, Liesman smirking. Kernan balding. Gold about to head back down. Facebook rocking.

Yup. It's a new day.

Wed, 12/05/2012 - 09:45 | 3035189 GetZeeGold
GetZeeGold's picture

 

 

Grab a ray of sunshine and put it in a jar.....you might need it by this afternoon.

Wed, 12/05/2012 - 10:23 | 3035330 ElvisDog
ElvisDog's picture

It would be funny if Kernan stayed on the show long enough to go bald.

Wed, 12/05/2012 - 09:41 | 3035175 ak_khanna
ak_khanna's picture

All the efforts of politicians, government, central banks etc are focused on saving banks instead of targeting job creation which is the only way economy can recover. 
Jobs can be created by initiating the following :

Replace the top management of the too big to fail banks, put the existing ones in prison and charge them with fraud and misrepresentation. Break the banks into smaller ones so that they are no longer a risk to the whole financial system. Implement the Glass Stegall Act.

Use the reclaimed billions of dollars from the arrested bankers and use them to improve the infrastructure of the country. This would create jobs instantly and the improved infrastructure would give the confidence to the small businessman to hire more people.

Tax the richest 5% of the population heavily as they no longer create jobs in the country but outsource the jobs to the low cost developing nations. Stop completely the funding of election candidates by corporates and rich individuals so that their influence on politicians to make rules beneficial to themselves is clipped.

Stopping speculation and derivatives in commodity markets would reduce their prices substantially which would be beneficial to the majority of the population. This would lead to a better standard of living for the middle class families and they would go out and spend helping the revival of the economy.

But in the real world we can keep on dreaming.

http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in

Wed, 12/05/2012 - 09:42 | 3035176 q99x2
q99x2's picture

I feel so bad for those 118K. What a world. What a world.

Wed, 12/05/2012 - 10:02 | 3035235 Water Is Wet
Water Is Wet's picture

Slaves are needed to pay for the bourgeoisie's Obamaphones.

Wed, 12/05/2012 - 09:42 | 3035177 lizzy36
lizzy36's picture

Hmmm, Sandy or the fact that the election is over......or blame BUSH.

Wed, 12/05/2012 - 10:26 | 3035348 ptoemmes
ptoemmes's picture

Yes, while SuperPAC Obama may have passed, SuperStorm Obama has yet to spool up to full force.

Wed, 12/05/2012 - 11:25 | 3035638 Urban Redneck
Urban Redneck's picture

Less than 13 months left for all those SMEs to create captive insurance subsidiaries or be fined into financial oblivion.

Wed, 12/05/2012 - 09:43 | 3035180 apberusdisvet
apberusdisvet's picture

You mean that the "broken window" theory has been replaced by the "totally destroyed/flooded house" theory, wherein it is unnecessary to fix the broken windows?

Wed, 12/05/2012 - 09:58 | 3035230 GetZeeGold
GetZeeGold's picture

 

 

Need wood.....hold the glass for right now.

Wed, 12/05/2012 - 09:44 | 3035184 SheepDog-One
SheepDog-One's picture

So all the job losses are in New Jersey then, and everywhere else gained? This is easily known to be false and Zandi is an ass hat.

Wed, 12/05/2012 - 09:45 | 3035187 caimen garou
caimen garou's picture

sandy will be the blame for eveything from crotch rot to zandi being a total idiot for the next several months. the storm is also to blame for me drinking heavy,not sleeping, and wanting to go gambling in las vegas and I live in the middle of the country.

Wed, 12/05/2012 - 09:47 | 3035194 ShortTheUS
ShortTheUS's picture

With companies small and galactic-sized announcing that they are laying off people due to the fiscal cliff, and with the effects of Super Storm Zandi still being felt, you're telling me there was net hiring in November?!? No way. These figures are a joke.

Wed, 12/05/2012 - 09:47 | 3035197 SheepDog-One
SheepDog-One's picture

But this is just small fry....the real panic is CFR reports that public support for war with Iran is near -0-, they're sick of the lies and constant state of fear and panic and impending war month after month, year after year,....this is what keeps the central plansters up all nite.

Wed, 12/05/2012 - 09:51 | 3035210 Karlus
Karlus's picture

Support for war with Iran is 0 until they come out with Call of Duty V: Tehran assault expansion pack

Wed, 12/05/2012 - 10:02 | 3035239 HelluvaEngineer
HelluvaEngineer's picture

Seems like all the 50+ year olds I talk to are all onboard for a big ol' war on dem rag heads.  Nukin' em would be best tho.

We should send all of them over.  Might save social security.

Wed, 12/05/2012 - 10:56 | 3035491 booboo
booboo's picture

"Seems like all the 50+ year olds I talk to are all onboard for a big ol' war on dem rag heads. Nukin' em would be best tho.

We should send all of them over. Might save social security"

Let me guess, you live at "It's a Small World" at Disney and this is why we see 50+ charging the breach in all the Global Force for Good commercials and buying up "Call of Doody, I Would Shit My Pants if I had to Leave My Moms Basement and Face the World" video game?

No, your generation is slowly being groomed to work for FEMA and round up sheep. Just remember, when your shot up ass is wandering around looking for a box of "heal power" the end is near.

Wed, 12/05/2012 - 10:28 | 3035353 uno
uno's picture

that's why it will be a large false flag; MSM 247 spin with special war puppet Angelina Jolie pushing for it

Wed, 12/05/2012 - 09:49 | 3035202 Stuart
Stuart's picture

Sandy provides an easy out for the head up the butt types. 

Wed, 12/05/2012 - 09:51 | 3035207 azzhatter
azzhatter's picture

My son told me his boss told him to lay off 15 people yesterday in Minnesota. I told him blame it on Sandy

Wed, 12/05/2012 - 09:56 | 3035222 firstdivision
firstdivision's picture

Big surprise here, paying people less to do more work.  holiday sales will be outstanding Y/Y....

http://bloomberg.econoday.com/byshoweventfull.asp?fid=451400&cust=bloomberg-us&year=2012&lid=0#top

Wed, 12/05/2012 - 10:00 | 3035234 lolmao500
lolmao500's picture

Sandy has a large back.

Wed, 12/05/2012 - 10:05 | 3035241 Boilermaker
Boilermaker's picture

That explains the massive pump job in the futures.

One hell of a crash pad.

See, it's still up slightly.  Works...everytime.

Wed, 12/05/2012 - 10:06 | 3035244 rsnoble
rsnoble's picture

And futures are bright green who cares.  Printing press is still working.

Wed, 12/05/2012 - 10:19 | 3035308 DUNTHAT
Wed, 12/05/2012 - 10:49 | 3035450 dognamedabu
dognamedabu's picture

Yo west coast. Its seven. Time to get to work.

Wed, 12/05/2012 - 11:00 | 3035510 worbsid
worbsid's picture

Huh ... surfs up?

Wed, 12/05/2012 - 10:59 | 3035501 AynRandFan
AynRandFan's picture

For a storm whose destructive effects extended what, a mile inland, it was a jim-dandy!

Wed, 12/05/2012 - 11:17 | 3035599 madcows
madcows's picture

ADP's numbers suck.  Why do they even produce a number?

Wed, 12/05/2012 - 11:26 | 3035644 Toxx
Toxx's picture

I'm still waiting for them to release their shadow inventory of jobs.

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