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ADP Jobs At 5-Month High, Beating Expectations For 3rd Month In A Row

Tyler Durden's picture




 

It was the best of times, it was the worst of times. A dramatic beat by the ADP jobs number at 201k vs expectations of 140k is the third month in a row of beating expectations for jobs and the highest add of jobs in 5 months. QE-off? Good is bad? Well there is some bad is good in here too - the manufacturing industry only added 3000 jobs. Perhaps, rather ironically, the rise in jobs is due to the election providing a stimulus - someone has to do all that fact-checking and empty-chair-lifting.

 

 

 

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Thu, 09/06/2012 - 08:29 | 2767623 ihedgemyhedges
ihedgemyhedges's picture

Service jobs soar.  Well, I guess someone has to process all those subprime auto loans, not to mention student loans.................

Thu, 09/06/2012 - 08:33 | 2767636 docj
docj's picture

Yep. More people who used to work in manufacturing or decent-paying service jobs fall off the extended benefits cliff after 2-years and take a McJob with no benes and run-up the plastic. Bullish.

Thu, 09/06/2012 - 08:41 | 2767666 GetZeeGold
GetZeeGold's picture

 

 

Waiting for the revisions.....

 

Thu, 09/06/2012 - 09:05 | 2767743 Precious
Precious's picture

Due to sharp rise in outplacement specialists, welfare administrators and career counselors.

Thu, 09/06/2012 - 08:51 | 2767672 King_of_simpletons
King_of_simpletons's picture

Hurray ! More burger flipping private sector jobs added. Economy is back to booming. Buy Buy Buy... Buy with all hands. Shop till you drop.

The downside only 3000 MFGing jobs. That would mean McDonalds, Burger King and Wendys combined hired only 3000 fry cooks. Damn.

Thu, 09/06/2012 - 09:01 | 2767736 azzhatter
azzhatter's picture

Who is buying all them burgers?

Thu, 09/06/2012 - 09:06 | 2767758 GetZeeGold
GetZeeGold's picture

 

 

Copper burglers.....the ones that didn't get electrocuted.

 

Thu, 09/06/2012 - 08:47 | 2767688 Gully Foyle
Gully Foyle's picture

ihedgemyhedges

More like Nursing aid jobs. Nursing homes always have a high turnover with each jobs counted as "new".

That and they are expanding as younger people choose to place Mater and Pater in someone elses hands.

In some case it is justified, in others they just don't want their lifestyle interrupted by old farts puttering about.

Thu, 09/06/2012 - 09:46 | 2767916 docj
docj's picture

That's an interesting point. My mom works in a nursing home (or assisted living facility, whatever they're calling it these days) - she says the turnover among the non-nursing staff is damn-near 100% annually. So if I read this currectly, that's no new net jobs created over the course of a year, but according to ADP that's 100% new jobs added over the same time period.

Ain't statistics grand?

Thu, 09/06/2012 - 09:45 | 2767907 DosZap
DosZap's picture

Utterly ASTOUNDING, that these figures are JUST now arriving 60 days before we re-elect the MASTER.

 

Anyone find these increases smelling like Luccio Brazzi?.

I call BULLSHIT.

Thu, 09/06/2012 - 10:45 | 2768147 MeanReversion
MeanReversion's picture

Are you really this fucking retarded?  Say what you will about the numbers themselves, but ADP is a private company, unless Obama has moles at ADP cranking out bogus numbers, these are the numbers. They won't necessarily correlate to NFPs but they ARE ADP's numbers.  Take the tin foil hat off and get a fucking clue.

Thu, 09/06/2012 - 11:53 | 2768464 DosZap
DosZap's picture

Mean Reversion

Are you really this fucking retarded?

No, but you seem to be clueless.

Are YOU?................what is PRIVATE in this fascist regime, get your head out of your ass.

Companies fear this man, and they know paybacks are HELL.You think the numbers are real?.

Just 60 days prior to the election, and all of a sudden, ALL is peachy keen?.

They may have reported the numbers GIVEN to them, are they REAL?.

Good Lord man wake up.

Thu, 09/06/2012 - 12:20 | 2768564 Colonel Klink
Colonel Klink's picture

Would you like fries with that?

Thu, 09/06/2012 - 15:50 | 2769223 Paul Bogdanich
Paul Bogdanich's picture

Interesting.  Since ABC took a steak in the web-site the data has been increasingly, massaged, shall we say.  For example ZH conveniently forgot to post the advance initial claims number today which according to the BLS came in at 356,000 which is a real beat and sequentially down from last week's advance number of 374,000.  Doesn't fit the current narrative I suppose.  In sum all "news" anymore is just propaganda so be careful how you let the things you see shape your opinion especially when you remember things that you haven't seen but should have like today's advance initial claims number.    

Thu, 09/06/2012 - 08:32 | 2767630 Surrealist
Surrealist's picture

PLASMA TEE VEE! HERE I COME!!

Thu, 09/06/2012 - 08:32 | 2767633 Hype Alert
Hype Alert's picture

Initial claims just out at 365K.  QE off and futures are up?

Now, how about those plans to unwind that balance sheet?

Thu, 09/06/2012 - 08:35 | 2767643 Jlmadyson
Jlmadyson's picture

Yea and I'm Huckleberry Fin.

The McRecovery continues.

Should be good for QE hopeium however.

Thu, 09/06/2012 - 08:35 | 2767644 apberusdisvet
apberusdisvet's picture

PMs down on ADP; up on Draghi;  looks like the cartel is trying to screw us with a limp dick.

Thu, 09/06/2012 - 12:50 | 2768487 DosZap
DosZap's picture

A tad OT............ But have you seen the Billionaire obese Aussie bitch, telling working class folks that they should happily accept pay cuts, from $15.00 an hour, because African moners are making $2.00 an hour?.

AMAZING, how the uber wealthy  can lose their humanity, as long as their entire lives are solid GOLD,and they will never have to ever worry about ANYTHING this side of the grave?.

God I hate Liberals mindsets.

The I have mine club,screw the little guy.

Thu, 09/06/2012 - 08:36 | 2767649 Chief_Illiniwek
Chief_Illiniwek's picture

Recall that during the Krushchev and Brezhnev years the Soviet Union had 100% employment.  We know this because they told us it was true.

Thu, 09/06/2012 - 08:50 | 2767695 Gully Foyle
Gully Foyle's picture

Chief_Illiniwek

Dude, in the seventies Sixty minutes did a segment about some American welfare recepient bitching how bad it was here and he moved to the Soviet Union.

When he discovered he would be put to work for those meager government bennies, he high tailed it straight back to the loving arms of the good old USA.

I can beleive 100% forced employment.



Thu, 09/06/2012 - 08:58 | 2767728 DOT
DOT's picture

They pretend to pay us; we pretend to work.

Thu, 09/06/2012 - 12:23 | 2768577 Colonel Klink
Colonel Klink's picture

I used to do that, until they wanted me to do 3 other peoples work but didn't want to pretend to pay me 3 time more.  Then it seemed like too much work!

Thu, 09/06/2012 - 08:37 | 2767653 Meesohaawnee
Meesohaawnee's picture

on the day of the dnc idiot fest.. did anyone really think the news would reflect reality? not on zh for sure.

Thu, 09/06/2012 - 08:37 | 2767656 fonzannoon
fonzannoon's picture

We all sit here and wait for the manipulated data to actually show some truth. There has got to be a psychological term for this. Insanity?

Thu, 09/06/2012 - 08:51 | 2767703 Gully Foyle
Gully Foyle's picture

fonzannoon

"There has got to be a psychological term for this"

Drug induced lethargy. It ain't like Men are watching Oprah in the am.

Thu, 09/06/2012 - 08:56 | 2767723 fonzannoon
fonzannoon's picture

I started checking espn more than I used too. I am pretty psyched for the NFL. I can slowly feel my head sinking further into the sand everyday. If that was their plan it is working. Why do I need to get called paranoid by my family all the time when I can just talk about what a wonderful comeback story Jeter is?

Thu, 09/06/2012 - 09:22 | 2767803 kito
kito's picture

you think jeter is a prepper????

Thu, 09/06/2012 - 09:51 | 2767936 fonzannoon
fonzannoon's picture

I think Jeter will be fine. I found it funny when Schilling busted out that he lost mil in gold coins in the bankruptcy process. The guy was smart enough to have 5 mil in gold coins and too stupid to not have a boating accident.

Thu, 09/06/2012 - 09:25 | 2767818 Gully Foyle
Gully Foyle's picture

fonzannoon

"when I can just talk about what a wonderful comeback story Jeter is?"

Who?

I always find it odd that people can stuff their brains with essentially meaningless stats but can't read a book or rationally discuss the state of modern politics.

 

 

I consider that a man's brain originally is like a little empty attic, and you have to stock it with such furniture as you choose. A fool takes in all the lumber of every sort that he comes across, so that the knowledge which might be useful to him gets crowded out, or at best is jumbled up with a lot of other things, so that he has a difficulty in laying his hands upon it.

Sherlock Holmes

 

Thu, 09/06/2012 - 09:48 | 2767927 Spastica Rex
Spastica Rex's picture

Sardonic +1

Thu, 09/06/2012 - 08:38 | 2767657 Cult of Criminality
Cult of Criminality's picture

Im raising the B.S. flag

Wait for the readjusted fraudulent stats and your `unexpected` takeaway.

Bullshit is bullish however.

Cheers

Thu, 09/06/2012 - 08:43 | 2767680 Meesohaawnee
Meesohaawnee's picture

i just dont even turn my trading screen on anymore. Your not gonna get anything that resembles reality until oct or nov. Not until the election can anyone even hope this "market" truly is one. until then.. they need to just make it half days. just shut it down. You cant tell me theres a money manager alive thats thinking oh i gotta go long cause things are so good. Hope your happy destroying the integrity of entire global markets Ben. Your legacy lives on..Hope you sleep well.

Thu, 09/06/2012 - 08:44 | 2767682 Shizzmoney
Shizzmoney's picture

"Trust me, the jobs are coming"

Bill Clinton

That raise, however?  Or relief for the middle and lower classes, well.....that ain't coming. 

But Bill sure is!

Thu, 09/06/2012 - 08:45 | 2767685 fonzannoon
fonzannoon's picture

he meant blow jobs

Thu, 09/06/2012 - 08:55 | 2767719 DOT
DOT's picture

Ramp Jobs !  Election only weeks away.

Thu, 09/06/2012 - 09:46 | 2767912 giovanni_f
giovanni_f's picture

...and they DID come (and he too)

Thu, 09/06/2012 - 09:04 | 2767745 azzhatter
azzhatter's picture

That's what he told Monica before the stain hit the blue dress

Thu, 09/06/2012 - 09:11 | 2767756 SheepDog-One
SheepDog-One's picture

'The jobs are coming'...yea when they start packing the FEMA forced labor camps.

Thu, 09/06/2012 - 08:50 | 2767687 LoneStarHog
LoneStarHog's picture

Service Jobs increased significantly due to government hiring of THOUSANDS of new IRS, TSA, etc. who now require additional SERVICE by PROSTITUTES, both MALE, FEMALE and the IN BETWEENS (aka Tweens). All of the new Service Jobs are POSITIONS in the prostitute industry.

Thu, 09/06/2012 - 08:50 | 2767697 caimen garou
caimen garou's picture

never ceases to amaze me that bullshit news is bullish and real news is.......real news? that's why I check out zero hedge everyday

Thu, 09/06/2012 - 08:54 | 2767714 youngman
youngman's picture

Its so political now I do not trust any numbers other than the amount of money in my wallet...subprime loans are back for cars...more people on foodstamps..deficit hit 16 trillion and not a peep out of the MSM.....but we are kicking ass on Abortion....

Thu, 09/06/2012 - 08:56 | 2767724 Deep79
Deep79's picture

The most annoying part is when this thing goes, all we will hear is

"We didn't see it coming, who could of known"

 

 

Thu, 09/06/2012 - 09:07 | 2767752 tbone654
tbone654's picture

PLUS, PLUS, PLUS, PLUS, PLUS....

Thu, 09/06/2012 - 09:09 | 2767766 SheepDog-One
SheepDog-One's picture

Yep Deep79 and they'll have set it up to say 'Behold, its all YOUR fault, people of america, you put in 'hated whitey repub' and its his fault I hope youre happy with yourselves ruining our work when we had it all fixed'.

Watch and see.

Thu, 09/06/2012 - 10:09 | 2768000 roadhazard
roadhazard's picture

Us Boomer's are already used to it all being our fault so join the club.

Thu, 09/06/2012 - 09:24 | 2767810 1eyedman
1eyedman's picture

....and the war on the middle class is going exceptionally well...

Thu, 09/06/2012 - 08:56 | 2767721 giovanni_f
giovanni_f's picture

Unemployed? Enroll as drone pilot. You'll make a killing.

Thu, 09/06/2012 - 08:57 | 2767725 Dr. No
Dr. No's picture

NFP will come in hot (Bruce Krasting made this call after looking at SS numbers).  Wall street will sell off since they will believe QE3 is off the table.

Thu, 09/06/2012 - 09:02 | 2767737 insanelysane
insanelysane's picture

I respectfully disagree.  Ben has hinted in his statements all summer that he knows the employment numbers are bogus and that he does not base QE decisions on the employment numbers.

Thu, 09/06/2012 - 09:04 | 2767744 Dr. No
Dr. No's picture

I am sure Ben does not use the employment numbers.  He only checks the thickness of Jamie Dimon's wallet when deciding QE3.  But the perception of Wall Street will be it is of the table.

Thu, 09/06/2012 - 09:06 | 2767757 dolph9
dolph9's picture

I don't want to be pessimistic but I just don't believe these bullshit numbers.  And even if there are jobs added, they are probably part-time and/or low paying.

Anybody with two eyes and a pulse could tell you we are in a grinding depression.  I mean, it's just obvious everywhere you look.

Thu, 09/06/2012 - 09:07 | 2767763 Jlmadyson
Jlmadyson's picture

CNBC host to Faber: "Are you bullish on anything?"

Faber: "I'm bullish on the end collapse."

Never truer words spoken.

Thu, 09/06/2012 - 09:20 | 2767796 Yen Cross
Yen Cross's picture

 Continuing claims and "Initial claims" were both revised up but as usual the M/S whores won't report on that! Because all is well in the land of " Part Time Jobs" !

Thu, 09/06/2012 - 09:22 | 2767805 papaswamp
papaswamp's picture

Part time and temps....

Thu, 09/06/2012 - 09:34 | 2767853 Winston of Oceania
Winston of Oceania's picture

It's harvest time and back to school time so all the cafeteria workers are back on the job.

Thu, 09/06/2012 - 09:24 | 2767811 Snakeeyes
Thu, 09/06/2012 - 09:48 | 2767928 DosZap
DosZap's picture

With 12.8 million unemployed

What happened to the other 3.5 million, and the record 46 million on welfare and SNAP cards?.

Damn that Kenyan is SLICK.

Thu, 09/06/2012 - 09:25 | 2767817 Meesohaawnee
Meesohaawnee's picture

good morning america.. We hope you enjoy a +1.50 up crude fuck job on nothing but a futures algo ramp..have a wonderful day. Regards. Central planners.  

Thu, 09/06/2012 - 09:33 | 2767850 yogibear
yogibear's picture

It's getting close to November. Anyone expect anything different?

Look at FedEx and UPS for the traffic. The White house is putting pressure on the rating agencies and statistical organizations. 

Thu, 09/06/2012 - 09:35 | 2767855 Meesohaawnee
Meesohaawnee's picture

all staged election theatre.. did anyone expect anyone different? the script is so obvious.

Thu, 09/06/2012 - 09:38 | 2767873 djsmps
djsmps's picture

I fully expect a 7.9% or lower unemployment rate announcement tomorrow.

Thu, 09/06/2012 - 09:47 | 2767926 deez nutz
deez nutz's picture

Service-providing sector   -  +185,000  !!!!!

By golly the Gipper must be rolling in his grave!!  only took 27 years for his plan to be a success!!!  

Don't we all miss those feel good "gipper" speeches? 

Thu, 09/06/2012 - 09:53 | 2767951 Spastica Rex
Spastica Rex's picture

I'm still waiting to be trickled down upon.

Thu, 09/06/2012 - 11:21 | 2768350 edifice
edifice's picture

Are you kidding? We're trickled down upon daily... With some sort of brown, maloderous material... Not what you're waiting for?

Thu, 09/06/2012 - 10:16 | 2768026 JMT
JMT's picture

It appears (at least in the greater Boston area) that things are booming. From what I hear, buyers are chomping at the bit at any home that comes on the market for less than say $600,000 in the western suburbs (anywhere between Route 128 & 495), rents in most of eastern mass are also at record highs (the same or more than in the NYC metro area) and stores are jam packed. Maybe it is because of back to school & college but things seem busier than right before Christmas.  My rent went up by $250 to just under $2,000 a month when my lease was renewed..  It doesn't matter how many jobs but what they pay.  Here it really is very hard for a single person making say less than $80,000 a year and in the NYC metro region $120,000 for a single person is considered lower middle class.

Thu, 09/06/2012 - 10:16 | 2768027 JMT
JMT's picture

It appears (at least in the greater Boston area) that things are booming. From what I hear, buyers are chomping at the bit at any home that comes on the market for less than say $600,000 in the western suburbs (anywhere between Route 128 & 495), rents in most of eastern mass are also at record highs (the same or more than in the NYC metro area) and stores are jam packed. Maybe it is because of back to school & college but things seem busier than right before Christmas.  My rent went up by $250 to just under $2,000 a month when my lease was renewed..  It doesn't matter how many jobs but what they pay.  Here it really is very hard for a single person making say less than $80,000 a year and in the NYC metro region $120,000 for a single person is considered lower middle class.

Thu, 09/06/2012 - 10:21 | 2768049 ejmoosa
ejmoosa's picture

I've analyzed more than 30 years of profit and jobs numbers.  There are no periods of hiring rising while the rate of profit growth is declining...

Regression to the mean will be resuming shortly. 

 

Thu, 09/06/2012 - 10:50 | 2768163 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

I think it's all attributable to hiring by the police state.  

They'll need a lot of extra fascists to fire those 750 million hollow point bullets the DHS bought.

Thu, 09/06/2012 - 11:13 | 2768309 q99x2
q99x2's picture

Obama finally did it. Just in the nick of time before the election. Imagine that.

Thu, 09/06/2012 - 11:47 | 2768440 DosZap
DosZap's picture

http://news.investors.com/ibd-editorials/080212-620795-skip-pink-slips-defense-contractors-told.htm?ven=outbraincp,OutBrainCP

 

This is the most CORRUPT SOB to ever inhabit these shores.

Breaking the Law yet, AGAIN!!!!!!!!!!!!!!!!!!!!!!

This is reason enough for the employees to NOT VOTE FOR HIM.

Thu, 09/06/2012 - 13:07 | 2768736 giddy
giddy's picture

It's useless.  The numbers are bogus.  The fix is in.  Throw in the towel.

True story.  College age son got a "job" this summer at a national clothing store chain.  Hired in June.  Ten hours of "training".  On the schedule exactly 3 X from June - August.  "On-call" 5 x -- but no work hours ensued.  They "over-hired".  Suspect many of these "jobs" are of similar nature.  Low wage, no hours, total scam.    

Watching the DNC convention last evening was an ephipany.  Screw conservative principles.  Screw children and grandchildren.  Who cares about the next generation?  Line up with every other interest group and get some NOW.  Tax every dime of the 1%.  Don't stop there.  Tax every dime of everyone that has private sector income.  QE economic entitlements to infinity.  Won't be here when the bills come due anyway.  Free ivy-league college educations for all!  Free healthcare!  Free housing!  Free contraception!  Abortions for the underclass!  More subsidies!  Get one of the "Obama Recovery" jobs that won't require you work any hours.  Don't pay taxes -- get foodstamps.     

It's beginning to look like the rational choice for those who couldn't care less about the "future".  NOW is the time.     

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