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ADP Employment Drops, Misses; Zandi Admits "Jobs Growth Slowing"
Another day, another missed data point. ADP Employment data shows 212k jobs added in February, which modestly missed expectations of 219k and is the weakest monthly gain in 6 months. This despite a strong prior revision, pushing the January number up from 213K to 250K to catch up to the BLS runrate. Despite the miss, that showed large businesses adding by far the fewest jobs, Mark Zandi as usual remains optimistic: "jobs growth is strong but slowing," and expects the economy "will return to full employment by mid-2016."
Another miss...
The breakdown:
More irrelevant, goalseeked 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
Zandi explains:
"While February’s job gains came in slightly lower than recent months, the trend of solid growth above 200,000 jobs per month continued,” said Carlos Rodriguez, president and chief executive officer of ADP. “What is also encouraging is that job gains are broad-based across all key industries.”
Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth is strong, but slowing from the torrid pace of recent months. Job gains remain broad-based, although the collapse in oil prices has begun to weigh on energy-related employment. At the current pace of growth, the economy will return to full employment by mid-2016.”
Finally, the truly value-added ADP infographic:
Meanwhile, the 90% data miss rate since Feb continues.
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Sock puppet tool
Job growth is strong in the H1B market, where indentured servants will write code for $40 / hour. They're having a huge job fair downstairs right now as I type.
What's up with the full retard revision to last months numbers?
That's the number they hit on the ADP's "Prior Revisions" dartboard.
After 6+ years of giving hundreds of billions in FREE MONEY (QE and continuing ZIRP) to bankers and financiers...
Time for a refund or retribution motherfuckers.
Kill'em all!
Its the weather.
...and expects the economy "will return to full employment by mid-2016."
Good news, just like the weather.
Huh.....with Obamacare and Amnesty.....I'd think things would be looking up.
Noticed empty shelves in one health food store I go to.
Looks like he'll be closing soon. He's been open fo 15 years.
Another pasta restaurant near it just closed up.
Either it's hospital clinics or banks/financial places I see opening these days.
The financialization of the US shows.
EVERY mall around here is being repurposed as a satellite health care clinic
Next logical transition is to internment camps
Won't even need to do much fitout or shepharding. Just keep the APPL store and food court open 24/7
Long GGP
Oooh, Food Court!
But sales of smart phones are on the rise, right?
LOLOL..........
That's what Target's CEO says.
My smartphone has it's own smartphone...and its own brain tumor. Aren't I trendy?
FULL EMPLOYMENT 2016 = 300% Increase in Disability Claims. Problem solved. Dow 50,000.
My daughter and son-in-law have worked for twelve years with current companies .......Both got their notices of impending HUGE layoffs within the next 90 days.
So that was it?
And for sure the unemployment rate will drop!
"unemployment rate will drop!"
By design. Extend and pretend.
BULLISH!!!!
Somewhat important...(for those of us who want to see our grandchildren grow)
Multiple NATO military vessels are entering the Black Sea right now.
http://voicesevas.ru/news/russia/10660-istochnik-chetyre-boevyh-korablya...
The US have forgotten what happened to USS Donald (Cook) Duck?
http://www.veteranstoday.com/2014/11/13/aegis-fail-in-black-sea-ruskies-...
When nothing else works they take us to war.
Usually starts with an assassination....just sayin.
dont worry they're growing just fine....growing in a time where the govt is allowed to scan your emails/calls/financial data for your own good.....dont worry unless you have something to hide, right? they are growing in a time where all the answers are provided by the govt....b/c big brother knows whats good for you. they are growing in a time where heroes are those who intimidate, confiscate, and press the authority of leaders over rights of citizens. they are growing in a time where the needs (funding) of govt are more important than private property rights that the US was founded upon.
they are growing fine, into good soldiers who will fight and die for corporations right to low taxes and unencumbered access to resources.
It's called collectivism. Fortuately for you, we have reeducation camps called "Universities".
leaver pulling at its best!!!
(or fiddling while the whole shoddy mess burns)
well at least we got Target, oh wait.........fail
Part time employment rally with $25,000 ObamaCare crunch.
90% misses = Bullish!!!
ADP's Mark Zandi is now a job market prognosticator? What a hoot.
Look at that, manufactoring and goods producing sectors on their knees!
Looks like the US needs to create and export something other than war and weapons.
"Looks like the US needs to create and export something other than war and weapons."
Debt.
Consumes and excretes debt. The US is the world's roach.
Small businesses leading the way? ADP is as believable as Non Farm is.
My left tire is 1 pound low, should I turn myself in to pay a asphalt tax fee because it was wearing against the union contract guarantee? This stuipid shit has to stop. Dumb nigger living in WH.
Are there any smart ones?
Fredrick Douglas was pretty sharp.
AUDIT THE FED!
And then burn the MFer down!
Oh well Moodys says so, then it must be. Another rating agency that had no clue about the last collapse, and future one I am sure, insolence.
If critical thinking was a common attribute amongst the citicenry then the bs show would not work.
Obama is going to import new low wage labor. We can hire them to clean our pool for a dollar/day.
Obama will be able to fire his current staff, and replace the shoe shine boy for $0.25/hr.
Zandi's most frequent saying "Let me see how many I can fit in my mouth"
If small business were hiring that would definitely add to a better economy. All I still see are empty store fronts in the suburbs of Chicago. If it weren't for the the six years of ZIRP we would be in real trouble. Unfortunely it also produces bubbles that could lead us into a decade of lackluster markets.
If it weren't for six years of ZIRP, maybe a natural contraction, painful as it would have been, would have occurred and the economy could have recovered. All ZIRP has done, besides lining banker pockets, has delayed and, likely intensified the coming downturn. You can screw around with economic cycles for a period of time, but you can't stop them.
Job growth equals firing of all 40 hr per week employees and hiring more 29.5 hrs per week employees. If I didn't know better if say it feels like the roaring 20's.
And we all know what happened after that don't we?
The over-65 demographic is the only one with job growth, so I figure the increase in Walmart minimum wages has thrown Grandma and Grandpa greeters out of the employment pool.
Its crazy that a true 22% U6 unemployment rate will be called full employmet due to that 4 week hide trick they added in the 90s.