This page has been archived and commenting is disabled.

ADP Payrolls Add 238K Jobs In December On Construction Surge, Highest Print Since November 2012

Tyler Durden's picture





 

Unless ADP is forced to revise its December print following the BLS report on Friday (which in keeping with the baffle with BS tradition should be a major disappointment), the Fed will have no choice but to taper by another $10 billion at the next opportunity, because moments ago ADP, which for all intents and purposes is merely noise until it has revised its data to comply with Nonfarm Payroll reports, announced that in December, some 238K jobs were added in the US, well above the 200K expected, and the highest monthly print since November 2012.

The ful breakdown by company size, sector and industry:

The primary driver for the above expectation surge were construction jobs, which added 48K in December, also the highest monthly print in over a year, while manufacturing jobs rose less than previously, adding 19K jobs in December. As ADP reports, over the course of 2013, goods-producers added 286,000 jobs. Nearly 75 percent of these gains came from construction as the housing recovery accelerated throughout 2013.

Service-providing industries added 170,000 jobs in December, down slightly from an upwardly revised November figure of 182,000. The ADP National Employment Report indicates that professional/ business services contributed the most to growth in service-providing industries, adding 53,000 jobs. This was the largest gain in the industry in a year. Expansion in trade/transportation/utilities slowed slightly, adding 47,000 jobs in December. Private payrolls increased by nearly 1.9 million jobs in the service-providing industries in 2013. The bulk of this increase was split evenly between transportation/trade/utilities and professional/business services. Finance brought up the rear gaining just 59,000 in the last twelve months

Some soundbites:

"The U.S. private sector added 238,000 jobs in December, surpassing November as the strongest month for job growth in 2013,” said Carlos Rodriguez, president and chief executive officer of ADP. “It’s encouraging news that hopefully bodes well for 2014."

 

Mark Zandi, chief economist of Moody’s Analytics, said, "The job market ended 2013 on a high note. Job growth meaningfully accelerated and is now over 200,000 per month. Job gains are broad-based across industries, most notably in construction and manufacturing. It appears that businesses are growing more confident and increasing their hiring.”

Some other pretty charts from the social-network friendly ADP:

Historical Trend - Change in Total Nonfarm Private Employment (in thousands)

Total Nonfarm Private Employment by Company Size (in thousands)

 

Finally, the best part about every monthly ADP report: the prepapred infographic - especially for Economist PhDs.

Infographic: ADP National Employment Report Shows 238,000 Jobs Added in December

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 01/08/2014 - 09:36 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

ADP Payrolls Add 238K Jobs

They will if they know what's good for them.

 

We'll be awaiting the revisions......as usual.

Wed, 01/08/2014 - 09:38 | Link to Comment qqqqtrader
qqqqtrader's picture

well revise at least -1 from those numbers... I got laid off a couple weeks ago... grrrr

Wed, 01/08/2014 - 09:40 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Did you report it?

 

I'm sorry to hear that actually....best wishes.

Wed, 01/08/2014 - 09:43 | Link to Comment qqqqtrader
qqqqtrader's picture

reported it to California EDD...

now I'm employed by the state of California

 

(now I'm a statistic!)

Wed, 01/08/2014 - 09:44 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Nice.....I hear California is loaded with cash.

Wed, 01/08/2014 - 10:06 | Link to Comment smlbizman
smlbizman's picture

yep...cause evrybody knows most construction takes place in sub freezing conditions....

Wed, 01/08/2014 - 10:08 | Link to Comment qqqqtrader
qqqqtrader's picture

Really?

UI Trust Fund Balance as of November 2013 = $(9,215,993,290.76)

Wed, 01/08/2014 - 10:22 | Link to Comment Hulk
Hulk's picture

Fuck man, they are just a pair of parenthesis away from being far into the green !!!

Wed, 01/08/2014 - 10:41 | Link to Comment Atlasshruggedme
Atlasshruggedme's picture

Sorry to here.. I hope you have learned something from this forum/site and can afford the layoff.

 

Good Luck.

Wed, 01/08/2014 - 09:41 | Link to Comment TideFighter
TideFighter's picture

...Because the very 1st thing a Polar Vortex creates is more constructuon jobs.

Wed, 01/08/2014 - 09:44 | Link to Comment Mae Kadoodie
Mae Kadoodie's picture

Shitty weather, hey let"s build more shit outside.

Wed, 01/08/2014 - 09:48 | Link to Comment max2205
max2205's picture

Well thank god the depression is over so we can go long stocks 100%

Wed, 01/08/2014 - 13:10 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

Are these full time jobs...or does it include part-time jobs as well?

Wed, 01/08/2014 - 09:36 | Link to Comment Serfs Up
Serfs Up's picture

Fear not.

 

This "news" will be used to buy stawks and sell gold.

 

All hail the new Fed chair!  Long live the new Fed Chair!

Wed, 01/08/2014 - 09:36 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

This "news" will be used to buy stawks and sell gold.

 

You betcha!

Wed, 01/08/2014 - 09:52 | Link to Comment Quinvarius
Quinvarius's picture

As long as they care about the price of gold, there is a problem.

Wed, 01/08/2014 - 10:09 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I've heard something about that.

 

Goggle "DHS insider gives final warning"....the subject of gold does come up...I'd post a link but I'm on too many lists as it is.....and you might want to do it with a different search engine than Goggle.

Besides that....I don't believe half of what I read.....and that's not even a fraction of it. If I don't see it reported on MSNBC first, I don't pay much attention to it.

Wed, 01/08/2014 - 09:36 | Link to Comment therevolutionwas
therevolutionwas's picture

Part time jobs no doubt for the private sector.

Wed, 01/08/2014 - 09:36 | Link to Comment JustObserving
JustObserving's picture

God's in His heaven—

All's right with the world!

Now if we could get TWTR to $75, life would be fine and dandy.

Thank you, Fed, for fixing all our problems


Wed, 01/08/2014 - 09:39 | Link to Comment q99x2
q99x2's picture

We've turned a corner. This year there'll be a camel in every pot.

Wed, 01/08/2014 - 09:40 | Link to Comment q99x2
q99x2's picture

I mean chicken. A chicken for every pot.

Wed, 01/08/2014 - 09:49 | Link to Comment max2205
max2205's picture

Pot for everyone....must keep seeing that fairy dust

Wed, 01/08/2014 - 10:44 | Link to Comment Atlasshruggedme
Atlasshruggedme's picture

You in Colorado? Never heard of Chicken Pot :-)

Wed, 01/08/2014 - 09:39 | Link to Comment youngman
youngman's picture

This is a better number..if it is true

Wed, 01/08/2014 - 09:40 | Link to Comment Jameson18
Jameson18's picture

More lies. Put going out of business or store closing in Craigelist and then tell me small business is hiring. Why does ZH even report on ADP we all know its propaganda. So stop wasting the space.

//
Wed, 01/08/2014 - 09:45 | Link to Comment Clueless Economist
Clueless Economist's picture

Seeing that smug little punk Zandi spouting things like "We are on our way" "4% GDP"  "any # above 100K brings down the ue rate .5% a year" "at this rate we will have full emplyment in November 2016 in time for the election at this rate" really makes my morning.

Anyone else have an urge to punch him in the mouth?

Wed, 01/08/2014 - 09:51 | Link to Comment max2205
max2205's picture

I do and have for 6 years

Wed, 01/08/2014 - 09:46 | Link to Comment firstdivision
firstdivision's picture

They have a lot of internment camps to get completed by years end

Wed, 01/08/2014 - 09:53 | Link to Comment MFLTucson
MFLTucson's picture

The primary driver for the above expectation surge were construction jobs, which added 48K in December???

 

 

So there is more contruction when it is freezing and snowing then when the weather is warmer?  Bullshit to this report and to this whole goverment group of liars!

Wed, 01/08/2014 - 10:12 | Link to Comment Shizzmoney
Shizzmoney's picture

RE

So there is more contruction when it is freezing and snowing then when the weather is warmer?

Its not so much the timing of the weather, but the timing of the (ZIRP) loans.

Alot of "forced, centrally planned" projects are happening in various cities across the US.  Minnesota, Detroit, San Francisco are in the middle of building new sports stadiums.  Here in Boston, the government, venture capital, and hedge fund real estate people have been cutting deals left and right building shit up in Somerville and in the Innovation District.  This is sold to the people as building new condos for residents, office buildings to lure major corporations to the area (who get major tax breaks for doing so), and new transit stations....which creates "jobs" (i.e. satisfies Democratic politicans who cut deal with unions to create construction jobs, which shuts the plebs up for the year.  Remember, we are coming out of an election cycle).

The thing is: the only reason this exists is because of cheap money (Fed, TBTF banks) for those who are in real estate.  Then are essentially gambling with the state's money that once this shit is built up, the economic situation will improve and people will frequent these new structures, allowing them to make money and pay down the interest faster.  They of course won't as the economic situation is NOT improving. 

When this thing starts to really wind down around 2015, it won't be as bad as China where cities' building are desserted..............but if interest rates were to EVER rise in a shock fashion, there are going to be alot of people hurt on these investments (expect for those who make the initial loans).

Wed, 01/08/2014 - 10:22 | Link to Comment Rubbish
Rubbish's picture

Also a lot of peeps moved last year. This creates pockets of repair & maintenance spikes in small businesses. Adding a laborer over a vast spectrum gives minor boosts and then ripples out.

Wed, 01/08/2014 - 09:53 | Link to Comment Rubbish
Rubbish's picture

As much as some may not like it, you need to accept it. This IS trickle down, big money spent last year and the effects are beginning to show slightly. No this isn't moving and shaking but it may be a start.

 

This is signs the can kicking could go on much longer.

 

Not selling my Gold/Silver. Keep your ear to the ground.

Wed, 01/08/2014 - 09:55 | Link to Comment kenezen
kenezen's picture

YAY gold & Silver!!

Wed, 01/08/2014 - 10:25 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

A thank you card to my grandkids would be appreciated.

Wed, 01/08/2014 - 11:06 | Link to Comment PrecipiceWatching
PrecipiceWatching's picture

Well if spending "big money" worked last year, wouldn't spending biggerer money work even betterer this year?

Golly Mrs. Cleaver, how come no one thought of this before?

 

Wed, 01/08/2014 - 09:53 | Link to Comment kenezen
kenezen's picture

It is difficult to transition these numbers with the free service, federal and state providers, numbers of how many people seemingly are still reaching out for unemployment, Food stamps, Disability. or others signifying non-work. Has any real reversed math from actual body counts of people receiving those services or others that would conclude non-work been compiled? 

Wed, 01/08/2014 - 10:03 | Link to Comment Shizzmoney
Shizzmoney's picture

What a crock of shit.

This labor market sucks.  The underlying issues aren't just with job creation.  Look at declining incomes.  Look at the JOLTS (voluntary quit) rate.

238K jobs/mth is *not* something we should be proud of.

We can do better, but we won't, because in the end, the people in power, and with cash.....don't give a shit.

When this thing collaspes, they'll either a) leave or b) use to to game the system even MORE.

Wed, 01/08/2014 - 10:20 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

"well above the 2300K expected,"

Is that a typo or a temperature forecast?

Wed, 01/08/2014 - 10:23 | Link to Comment Spungo
Spungo's picture

Looks like a pretty good report. Hopefully it's the start of a real recovery.

Wed, 01/08/2014 - 10:36 | Link to Comment PrecipiceWatching
PrecipiceWatching's picture

Puff the Magic Dragon, Lives by the Sea......

Wed, 01/08/2014 - 10:24 | Link to Comment papaswamp
papaswamp's picture

Gallup showing the real trend degradation of payroll to population.

http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx

Wed, 01/08/2014 - 10:30 | Link to Comment optimator
optimator's picture

Take out construction of a big facility in Utah, and....

Wed, 01/08/2014 - 11:16 | Link to Comment graspAU
graspAU's picture

Will have to look for the breakdown between, part-time and full-time, and jobs <=$20 per hour and >$20 per hour. That would probably tell an interesting story, but hey, build more stuff.

Wed, 01/08/2014 - 12:39 | Link to Comment crzyhun
crzyhun's picture

Sanity is not statistical. GO 1984

Wed, 01/08/2014 - 12:40 | Link to Comment AGuy
AGuy's picture

FWIW: NOT BUYING THIS STORY!

Not a single business colleague I spoken with recently works for an employer that is adding jobs. The topic of Obamacare and weak sales has put a hold on any hiring. They are more focused on cutting spending and perhaps more layoff during Q1 2014. One of my clients (prive company +4 Billion in yearly sales) is cutting all departmental budgets by 30% for 2014.

 

If anything, the hiring for December was probably all temp retail jobs for the holidays.

Wed, 01/08/2014 - 15:36 | Link to Comment Gusher
Gusher's picture

I agree. My small business customers are not hiring and just trying to survive.  Except in ND.  And one of the ways they survive is paying me slowly.  Arrrgg.  Almost the checks that came in the mail to me in December were from instititional accounts - Banks, hospitals, etc.  Mom and pop business' are paying their venders slower than ever.

Wed, 01/08/2014 - 12:55 | Link to Comment starman
starman's picture

Bullshit! Fourth quarter was the highest lay offs in 03!

Do NOT follow this link or you will be banned from the site!