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ADP Employment Misses By Most In 4 Years, Lowest In 14 Months
After missing expectations in a dismally weak February print, March turned out even worse. Despite Mark Zandi's reassurances that Feb was a weather-related blip, March ADP employment change was a mere 189k (against expectations of 225k) dropping to its lowest since January 2014. Large business hiring was the worst, adding a mere 19k. Zandi said in Feb that "jobs growth is strong but slowing," but now it appears weak and accelerating lower. And the now recurring punchline: manufacturing jobs -1,000.
Oops!
The breakdown:
The worst month in over a year:
The comparison between ADP and BLS:
Job changes by company size:
and by industry:
ADP adds...
"March job gains came in under 200,000 for the first time since January of last year,” said Carlos Rodriguez, president and chief executive officer of ADP. “The decline was centered in the largest companies, those with 1000 or more employees.”
Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth took a step back in March. The fallout from the collapse in oil prices and surge in value of the dollar is hitting the job market. Despite the slowdown, underlying job growth remains strong enough to reduce labor market slack.”
Finally, the always amusing ADP infographic:
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Worst since Lehman?
Was just about to post the same thing. LOL!
Lots of whores getting work i guess
I can't afford the nice ones anymore. Do they have those at Dollar General yet?
This should be worth another all time high don't you think?
Should shave 100 more off the gold price as well.
Since Lehman TM
Now grandma Yellen can jawbone some more bullshit about a possible rate hike later this year...bullish!
or she can jawbone Ben's willy
worst since half a Lehman...kind of like AU....not that AU...an Astronomical Unit!
I think you are on to something here.
"It was a terrible event, equivalent to half a Lehman."
pods
duh its becuause republicans have majority..
sarc.. we all know there is no dif between parties..
It is ok. Tomorrow the BLS will report the exact opposite.
Ignorance is Strength
Freedom is Slavery
Note that producing things - what drives economies (manufacturing) - is down. Make-work "jobs" up. Never a good sign. Send the lawyers, politicians, and paper pushers away to destroy another country's economy.
The wall of worry is being climbed with the ease of a spider monkey
The company I work for is going through a year long M&A consolidation, we had four open positions in my section eliminated plus about 150 folks were laid off last week. More "synergies" will be realized in June.
We synergiezed some folks
not to worry, consumer confidence is up
My place is now like a morgue. We once had around 3000, now down to under 1000 and still shrinking. There's a coninuous trickle of layoffs, 1 or 2 per week, so as not to alarm the sheep. No hiring. No new work. Its a very slow death event, like being strangled by a boa constrictor. I'm just riding the wave all the way in until it dies out with a wimper on the cesium-tainted beach.
I know we have been pointing at strong employment gains in the past few months as a sign of the economic recovery, while ignoring all of the poor macro data, earnings, etc, but now that employment data is bad, we can go ahead and ignore that too, since everyone knows the econoomy is strong. All of this data that goes against the ongoing naarative of recovery must just be noise.
\s
Bullish for stocks then - no rate hike in June?
Depends on the bogus unemployment rate?
It's climate change!
Are there any manufacturing jobs left for China and others to take?
Just a slow wealth stealing grind by the Federal Reserve banksters.
Another round of QE this year. Eventually the Federal Reserve faces a currency crisis.
Let them eat manipulated data points!
Yawn. Wake me when there are negative prints.
Have a nice slumber Mr Van Winkle
Goods-producing sector jobs created = 5,000
Service-producing sector jobs created = 184,000
What a FUBAR situation. What greedy maggots thought this was a good idea... to outsource so much goods-producing capability abroad and hollow out our production base. Let me guess... banksters and accountants...
FUBAR.
Anyone considering a hostile takeover of the US.
The Greater Israel Project.
Value adding work versus phantom bridges to nowhere.
Some may argue that all job activities are equal. I disagree. There are value adding jobs (labor that increases the value of something) and there are non-value-adding jobs. Those that do not increase the value of something.
Value adding jobs increase the asset (and thereby collateral) base. non-value-adding jobs are just churn and contribute nothing to the asset base.
The US is in decline because it is no longer creating value. It is both diluting existing value through inflation of the money supply and it is parasitically sucking value from other parts of the world through outright theft of assets and manufacturing labor arbitrage.
Apparently those who want to be in control have decided that sacrificing the US is necessary to build up a global empire.
Bullish for sure.
Does anybody truly believes these numbers? ADP is owned by Moody's which "was told" to change they way they calculated employment back in 2012 to make it sync with BLS. Moody's is currently being investigated/ shakendown by the " Department of JustUS". Moody’s had “inadequate models and methodology” to gauge the risk of subprime mortgages and exhibited a “relentless drive” to win market share. Don't worry though, our methodology for unemployment is much better. Now they just use the BLS numbers and alter them slightly so they can look different.
That's about all you need to know about ADP/Moody's.
Lies. Damn Lies. God-damn lies. Everything is now just one big Lie & Fraud, the biggest being the Crime Syndicate known as the US Fed Govt.
Strong employment if you want to work 20 hours a week and Dollar General. These store are spouting like weeds where we live
and a lot of competition to get hired
Just means the unemployment rate will go down again.
Small employers over half of the number. Small employers = restaurants. New restaurants open all the time. Many close back. Employees go on to next new restaurant. Banks are suckers for lending money to new restaurants. What else is there to lend to beside apartments?
Funeral homes.
Construction is up, wood and copper appear down on the year. The green shoots in this report seem temporary unless copper's march up continues.
Mark Zandi is talking out of his ass.
Maybe he shot Getty?
I should clarify my statement about ADP being "owned" by Moody's. They work "closely" together when figuring out unemployment data, which better sync up with the BLS or else, it shakedown time for both firms.
Our subway shop at the exit 98 exxon station hired a recent college grad last month.
Eff the whole senate engorged wholly successful conglomerates of the kikey ass kike Lousenberg family with a rusty D355A .
Our country and media acts like end of world when one douche escapes custody in Fairfax medical unit,...
swat teams,shelter in place,lockdowns
It may be justifiable all that stupidity after all just like John Allen Muhammud the retribution is hitting too close to the beltway.
But good god Fairfax was turned into a refuge of turd world crimmigrants years ago.Before,..way back when when I used to be a person circa 2009 and I wasn't banned banned from anywhere for my expression of thought and seeking knowledge and exposing facts and news on the real thanks to this finger tip gadget of communication.
Man the fuck up.
Karl Denninger couldn't go out in a more pussy ass way latest post he has I posted here months ago he would do this sort of thing.
I won't work less you make less they take starve the beast.
Hope you get hit by a total loss hurricane and missed your spendy insurance payments tooling around in your shitty little JAP car.
No one would buy it
it was for sale 3 months before the last 3months,know why?Because you threw off 80% of your base with all the bannings and no meaningful recourse to find why you were banned.I still don't know the post that got me kicked of because site is unsearchable by banhammerds.Not into puppets.
Shit he is probably still trying to sell the domain.
fuckem Hurricane and Tsunami for Destin Fla. as Lurch would say INSHALLA
I would have just turned it off.
Dumbass has to post his supposed reasons why.The reason why is no one bought it.
Now maybe he can join LIEsman and dumbass Cramer on cnbs.See how low stoops.
Maybe you were banned for irrational racist rants like this one? Frank Lautenberg is dead; not sure how his family is supposed to control Congress unless you think his ghost has supernatural powers.
I don't think you can find anybody (outside of media) who believes the economy and jobs are improving. There are huge sections of the country where all you see are houses for sale and empty stores for rent.
I note that hiring was up in November and December and then immediately started falling. Not because of the weather but because the holiday hires were let go when there were no holiday sales. If the average salary is $25,000 a year, there is NO descretionary money to spend.
Guy who shit on my rip you cannot perceveive how much the use of a proven JEW company metric to fuck the econ with fake facts graphs and statistics?Gun grabber too er livr eith the fore,I aint going to go into all tha PC talk of semetic this and that
ENEMY OF THE PEOPLE
Stupid ass webpage if this is a dupe.