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The Layoffs Begin: ADP Misses, Lowest Since September As "Businesses In The Energy Industries Are Scaling Back Payrolls"

Tyler Durden's picture




 

Having beaten expectations for the past 4 months, in the face of a surge in jobless claims across Shale states, it appears January's print is finally catching down to a weaker expectations as layoffs dominate headlines as even Mark Zandi is forced to admit "Businesses in the energy and supplying industries are already scaling back payrolls in reaction to the collapse in oil prices, while industries benefiting from the lower prices have been slower to increase their hiring." At 213k, this is the lowest print in 4 months, missing expectations of 223k and substantially lower than December's upwardly revised 253k from 241k (not to mention November's 274K) - the biggest drop since August as small business job growth slides significantly.

 

 

The details show small business job growth dropping...

Payrolls for businesses with 49 or fewer employees increased by 78,000 jobs in January, down from 115,000 in December. Employment among companies with 50-499 employees was the only segment showing an increase in January. These businesses added 95,000 jobs, up from December’s increase of 78,000. Employment at large companies – those with 500 or more employees – decreased from 61,000 the previous month to 40,000 jobs added in January. Companies with 500-999 employees added 14,000 jobs, down from December’s 23,000. Companies with over 1,000 employees added 26,000 jobs, down from December’s 39,000.

 

Goods-producing employment rose by 31,000 jobs in January, down from 47,000 jobs gained in December. The construction industry added 18,000 jobs, down from last month’s gain of 26,000. Meanwhile, manufacturing added 14,000 jobs in January, below December’s 23,000.

 

Service-providing employment rose by 183,000 jobs in January, down from 207,000 in December. The ADP National Employment Report indicates that professional/business services contributed 42,000 jobs in January, a large drop-off from December’s 72,000. Expansion in trade/transportation/utilities grew by 54,000, a sharp increase from December’s 40,000. The 11,000 new jobs added in financial activities is down from last month’s 14,000, but still well above the average of the past twelve months.

The ADP charts:

Change in Nonfarm Private Employment

 

Change in Total Nonfarm Private Employment

 

Change in Total Nonfarm Private Employment by Company Size

 

Change in Total Nonfarm Private Employment by Selected Industry

 

And ADP's favorite infographic:

<br />
ADP National Employment Report: Private Sector Employment Increased by 213,000 Jobs in January<br />

 

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Wed, 02/04/2015 - 09:22 | 5742593 Yellowhoard
Yellowhoard's picture

Bullish right?

Wed, 02/04/2015 - 09:24 | 5742598 29.5 hours
29.5 hours's picture

 

 

Yes. Lovely green arrows everywhere.

 

 

Wed, 02/04/2015 - 09:43 | 5742642 NoVa
NoVa's picture

except Treasuries which sold off for some reason on bad news - 10yr about 4 bos higher.  

1.83% is major resistance for 10yr.  I'm thinking of long TLT for a trade

 

Wed, 02/04/2015 - 09:50 | 5742662 cnmcdee
cnmcdee's picture

cue rainbow puking unicorn with skittles shitting diahrea before head ape drives a javelin through it...

Wed, 02/04/2015 - 10:13 | 5742753 kliguy38
kliguy38's picture

We cost some jobs for some folks

Wed, 02/04/2015 - 10:20 | 5742772 eclectic syncretist
eclectic syncretist's picture

Evidently bonds don't like it.

Wed, 02/04/2015 - 09:52 | 5742673 Cheduba
Cheduba's picture

Green means go!...buy stocks.

Wed, 02/04/2015 - 09:26 | 5742600 GetZeeGold
GetZeeGold's picture

 

 

Participation rates are what again?

Wed, 02/04/2015 - 09:38 | 5742631 foodstampbarry
foodstampbarry's picture

Shhhhhhhhh!!!

Wed, 02/04/2015 - 09:54 | 5742683 replaceme
replaceme's picture

Participation is always optional, and remember Friday is Hawaiian Shirt Day.

Wed, 02/04/2015 - 09:25 | 5742602 junction
junction's picture

These employment numbers will later turn out to be too high.  Then the excuse will be it snowed too much this winter, cutting hiring.  Except for Obama's accomplices.

Wed, 02/04/2015 - 09:31 | 5742612 Arnold
Arnold's picture

Retail closings are probably a little slow to report the Holiday disaster.

Still working out the excess inventory.

Wed, 02/04/2015 - 09:54 | 5742680 dimwitted economist
dimwitted economist's picture

i happen to know the Dollar Tree is Hiring.. (part time)

Wed, 02/04/2015 - 09:26 | 5742597 Arnold
Arnold's picture

It's good to see goods and services doin so well. Green shoots.

(I wonder what the definition of a job is.........)

Wed, 02/04/2015 - 09:30 | 5742614 NoDebt
NoDebt's picture

Did you earn more than $20 last month from gainful employment?  You have a job.  Put another one in the win column.

Wed, 02/04/2015 - 09:52 | 5742672 cnmcdee
cnmcdee's picture

Easy anywhere you work from home making $7800/ month off the internet parttime.. Where is yelp trade with their flappy vagina sisters and mothers lately?

Wed, 02/04/2015 - 09:32 | 5742617 Bill of Rights
Bill of Rights's picture

 

WILD! Beam of Flashing Light Fills Michigan Sky After Explosion

https://www.youtube.com/watch?v=iIB-eUJE4Sg

Wed, 02/04/2015 - 09:33 | 5742619 overmedicatedun...
overmedicatedundersexed's picture

 repost if we had a real political party think of the headlines this would make:

How a people were raped: America treason of our leaders- plain as day...

"Sen. Jeff Sessions (R-AL) is calling for an investigation into the recently exposed “shadow” work authorization system, in which the Obama administration has allowed millions more immigrants than Congress mandated to obtain work permits.

“This massive increase in the labor supply has occurred simultaneously with a steep drop in family incomes and a sharp rise in the number of Americans pushed out of the workforce,” Sessions said in a statement Monday. “All jobs gains since the recession have gone to foreign workers, while the slack labor market has depressed median family incomes almost $5,000 in that time.”

Wed, 02/04/2015 - 09:38 | 5742630 GetZeeGold
GetZeeGold's picture

 

 

Clearly we NEED amnesty.

Wed, 02/04/2015 - 09:38 | 5742633 Arnold
Arnold's picture

Correlation is not causation. New Maff 1.01

Wed, 02/04/2015 - 09:35 | 5742627 disabledvet
disabledvet's picture

ROLLING OVER!!

All right! Buy, buy, buy!

Bad news is good news sheeple!

Buy! Buy! Buy!

Wed, 02/04/2015 - 10:00 | 5742714 SheepDog-One
SheepDog-One's picture

Everything is AWESOME, for ever and ever! (tm)

Wed, 02/04/2015 - 09:38 | 5742628 101 years and c...
101 years and counting's picture

does anyone actually believe the US is "adding" 200K jobs per month? maybe the same people that still believe ben wont monetize the debt believe in the fraud....

Wed, 02/04/2015 - 09:57 | 5742690 iclouding
iclouding's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://goo.gl/ezLA00

Wed, 02/04/2015 - 10:28 | 5742802 replaceme
replaceme's picture

Choke on a dick.

Wed, 02/04/2015 - 10:54 | 5742887 Unix
Unix's picture

This idiot is everywhere? If your making so much, why do you have to junk up our boards with your crap! Go make money and shut up already!

Wed, 02/04/2015 - 09:59 | 5742699 Never One Roach
Never One Roach's picture
NOV sees earnings dip, cuts spending

NOV Chairman, President and CEO Clay Williams called 2014 a good year, though he warned that 2015 and the ongoing oil slump will be "much, much tougher."

Wed, 02/04/2015 - 10:21 | 5742775 hotrod
hotrod's picture

If Gallup suggests that the unemployment rate is a LIE then doesn't that mean the Jobs number must be also.   If unemployment is much higher then how can we be producing all these jobs.

Wed, 02/04/2015 - 10:42 | 5742826 Smegley Wanxalot
Smegley Wanxalot's picture

That was just a "suggestion."

Soon the SEC and IRS will conduct an audit of Gallup, and they will alter that suggestion to be precisely in line with the realities quantified monthly by the US Dept of Factual Facts.

Wed, 02/04/2015 - 10:26 | 5742792 MasterControl
MasterControl's picture

Oh good. With all of these workers leaving the workforce unemployment should go down.*

Wed, 02/04/2015 - 10:56 | 5742892 Unix
Unix's picture

Ya, well they missed the print by a wee bit. Question I have is how many more people left the workforce? 92 million and counting?

Wed, 02/04/2015 - 12:45 | 5743301 Goldbugger
Goldbugger's picture

A Million jobs will be lost in the coming months in the energy sector.

Wed, 02/04/2015 - 13:00 | 5743379 Bunga Bunga
Bunga Bunga's picture

Time to roll out the job numbers ex energy.

Wed, 02/04/2015 - 23:21 | 5745888 kappal_toba_dhu...
kappal_toba_dhurr_ne_thook's picture

ADP is a lying sack of shitake!  

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