ADP Private Payrolls Spike To 215K, Above Expectations On Spike In Construction Jobs - Now With Infographic

Yet another headscratcher in the endless litany of Baffle with BS data, this time from the ADP Private Payrolls report, traditionally a laughing stock when it comes to its NFP forecasting powers (we will spare readers the correlation scatterplot which shows a 0 correlation), which not only revised its November print from 118K to 148K (just so it mysteriously coincides with the November NFP number of 146K), but saw the December private jobs number surge to 215K on expectations of a 140K print. The primary reason for the spike, a +39K surge in construction jobs, supposedly in the aftermath of Sandy, as well as some +53 job additions in trade, transportation and utilities. Also, how ADP gets +14K financial jobs in the peak financial layoffs month (to avoid year end bonuses of course), is anyone's guess. And while we should worry about that unemployment rate rapidly approaching the 6.5% Bernanke QE4EVA threshold end (don't worry, tomorrow we will find that the labor participation rate mysteriously has started to grow again to actually push the unemployment rate higher now that the Obama re-election is no longer an issue), we definitely should not worry about America's manufacturing renaissance, as the country lost yet another 11,000 manufacturing jobs - the 6th month in a row with mfg job declines (sorry Ohio, better luck next time).

The business size breakdown was as follows:

  • Small businesses (1-49 employees) +25,000
  • Medium businesses (50-499 employees) +102,000
  • Large businesses (500 or more employees) +88,000

Industry Snapshot

  • Construction 39,000
  • Manufacturing -11,000
  • Trade/transportation/utilities 53,000
  • Financial activities 14,000
  • Professional/business services 37,000

By Sector

  • Goods producing 28,000
  • Service providing 187,000

Some of the new and revised, social-network enabled and friendly charts from ADP:

And yes, apparently ADP now does concurrent infographics of its data: because apparently even chief strategists and economists are have the attention span of BuzzFeed readers:

Infographic: U.S. Economy Added 215,000 Private-Sector Jobs in December, According to ADP National Employment Report


No comments yet! Be the first to add yours.