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Despite "The People's Vote", ADP Private Payrolls 'Prove' Employment Situation Is Great
Isn't it odd that 'they threw the bums out' last night and yet, economic confidence is high, stocks are high, and now, according to ADP, private payrolls are great too? Something doesn't add up. ADP printed 230k against expectations of 220k, modestly up from a revised 225k in September. Small and Medium-sized businesses added jobs while the largest firms (over 1000 people) slashed jobs (which is great for the stock, right?).
The breakdown:
Mark Zandi may not have gotten the memo, but his eagerness to please the Obama administration will no longer bear any fruit. Also, the "folks" no longer believe what he says:
Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is steadily picking up pace. Job growth is strong and broad-based across industries and company sizes. At this pace of job growth unemployment and underemployment is quickly declining. The job market will soon be tight enough to support a meaningful acceleration in wage growth.”
Uhm, no. More from the report:
"Employment continues to trend upward as we begin the last quarter of 2014, driven mostly by small to mid-sized companies,” said Carlos Rodriguez, president and chief executive officer of ADP. “October’s job growth is the highest since June and the second highest gain of 2014.”
People almost believe this. Almost.
Payrolls for businesses with 49 or fewer employees increased by 102,000 jobs in October, up from 93,000 in September. Job growth was up dramatically over the month for medium-sized firms. Employment among companies with 50-499 employees rose by 122,000, well over twice September’s increase of 47,000. Employment at large companies – those with 500 or more employees – saw a big drop from 85,000 the previous month to only 5,000 jobs added in October. Companies with 500-999 employees added 14,000 jobs, up from September’s 8,000. However, this increase was offset by the loss of 8,000 jobs by companies with over 1,000 employees.
Thank you M&A.
Some more meaningless, goalseeked, seasonally-adjusted charts:
Change in Nonfarm Private Employment
Historical Trend - Change in Total Nonfarm Private Employment
Total Nonfarm Private Employment by Company Size
Change in Total Nonfarm Private Employment by Selected Industry
And the biggest ADP value added: an infographic.
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ADP - Assured Democrat Propaganda
Why get a real job when you can just as easily stay home chatting on your free cell phone, streaming Netflix and making $4000 a month pumping out new citizens.
I think they're called consumers these days.
I'm gonna go with sullen, chip-on-shoulder, generationally ingrained parasites.
"Everything is awesome!"
- Lego Movie
No reason to not improve job situation just because Obama lost an election.
Who was elected President last night?
Have no fear now. Congress and the White House will be deadlocked on issues that help the average citizen, while Congress and the White House will work hand in hand to help keep the rich getting richer.
The fact that you have 8 up and zero down votes on your puerile, ignorant, & narcissistic comment highlights one of the reason this country is in so much trouble.
Oh, look at that gang of thugs over there. Wow! Look at the blood spurt from the eye of that old lady! Sweet. Better than the best tosh video, that's for sure. Well, the thugs are moving on. Oh, look! They're after the entire 6-person family. Damn. That little girl didn't last long. Yawn. Crap. I haven't checked my phone in 34 seconds. Hey! You know what! After the thugs move on, maybe we can take group selfies with all those dead bodies as backdrop!
Yea. Stay on the sidelines. You and your kind have proven yourself so worthless as to be terminally worthless in this, the great game called politics and life.
Part time and a free phone bitchez!
Gallups P2P showing flat. Full time at 44%.
http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx
40% correction dead ahead.
to the upside, yes DOW 20k baby !
must be time to raise interest rates
As they say: Hope springs eternal. Sad
Hey wait a minute, Hillary said business doesn't create jobs so what's up with this report.
Quality, payment, hours?
would you like fries with that?
oh wait, times have changed - would you like a grande or vente?
Why is this Clown Car Operation in business?
For Washington to fix all that is wrong with our economy would be like turning a battleship in a bathtub. Today I make no predictions and have few expectations because when I awoke it was to a market where stock futures were soaring ever higher even as important economic numbers being released continue to come in below expectations. As the stock market continues to remain at historic highs please tell me what is so good? What is so much better?
As I see it the weight of carrying a large number of unemployed and people who have dropped out of the work force is wearing society down through attrition. The article below points out some of the glaring flaws in the argument that blue sky lies ahead as the stock market seems to indicate. As I look at a landscape of empty and under-leased buildings that once housed thriving businesses that provided Americans with good paying jobs I'm forced to ask, How are things getting better?
http://brucewilds.blogspot.com/2014/10/tell-me-again-how-things-are-getting.html
Silly rabbit...if the stock market keeps going up (well, not my stocks...they keep going down), then all is well.
Soaring stock markets always signal that a Country and an economy are A-OK!
Just like Zimbabwee, another place with successful political leadership.
DK
I have to agree; I don't see a solid foundation for such optimism. Even the General interviewed on the radio said he's "worried." What about?
U.S. vets' disability filings reach historic rateA staggering 45% of the 1.6 million veterans from the wars in Iraq and Afghanistan are now seeking compensation for injuries they say are service-related. That is more than double the estimate of 21% who filed such claims after the Gulf War in the early 1990s, top government officials told the Associated Press.
What's more, these new veterans are claiming eight to nine ailments on average, and the most recent ones over the last year are claiming 11 to 14. By comparison, Vietnam veterans are currently receiving compensation for fewer than four, on average, and those from World War II and Korea just two.
http://usatoday30.usatoday.com/news/health/story/2012-05-28/veteran-disa...
He also mentioned it's getting very difficult to find "good men" to enroll. He expalined so many applicants are: 1) former felons; 2) on "too many" drugs, or 3) "mentally unfit" for the hard duties of service.
I have to agree with the General and I am not as optimistic as some of these pollsters.
Now Mandy, here at Masy's you'll be working the following hours the holiday season.
Saturday 6 PM to 11:15 PM
Sunday 6 PM to 11:00
Monday 7 AM to Noon
Tuesday OFF
Wednesday 10 AM to 3 PM
Thursday OFF
Friday 10 AM to 3 PM
That's 29.25 hours
Oh, an Mandy. You'll get minimum wage but you will qualify for 10% employee discount on all items over $200.
and Mandy will be late half the time..and not show for two of those days....that is the new work ethic...
ADP does not have all the data but are publishing info as if they did....
Get it right dammit! Here's the real stats, trust me!....
Total Non-Farm Employement: 732,900
Unemployement: 1.07%
Consumer Confidence: 101.3
Inflation: 0.3%
Q3 GDP: 11.5% increase
Obama's approval: 97.5
Those bastards. Lying to us and telling us we're less properous than we actually are.
The rise of alibaba merchants and the decline of Walmart.
Election 2014: Mixed results on GMO labeling, cannabis initiatives
http://wtfrly.com/2014/11/05/election-2014-gmo-labeling-cannabis-initiat...
Once the Rs are seated the press will again to be able to print bad news...if there is a way it can be blamed on the Rs.
If there is a way? HAHAHA - they've been blaming all Obama's fuck up for 6 years on republicans, and rightly so in some cases, so why would they stop now?
"the largest firms (over 1000 people) slashed jobs (which is great for the stock, right?)."
Of course it is.....frees up more immediate cash for stock buy backs thereby enriching the directors' and managements' s stock options.
Great employment news!
Too bad noone told my friends and relatives who have been laid off.
(who you going to believe, your lying eyes or the White House/MSM "honest and accurate" b.s.?
DK