Private Sector Adds 188K Jobs, More Than Expected; Taper Retantruming

Now that good economic news is horrible news for the market, the last thing stocks needed today, with Europe and Egypt imploding fast, was a strong harbinger of Friday's NFP number. And in the first part of today's jobs preview duo, the ADP report, it got just that, with the ADP private payrolls rising to 188K from 134K in May, and modestly above expectations of a 160K print. Will this transform into a 200K+ print on Friday sending the market into a tailspin, or will the initial claims due in minutes fix everything by missing horribly, we will find out shortly.

From today's report:

“During the month of June, the U.S. private sector added 188,000 jobs, driven by gains across all sizes of businesses, and with small companies showing the largest overall monthly increase. Most notably, the goods-producing sector added 27,000 jobs in June, a marked improvement over the decline the previous month.”

Broken down by category, all we can say is that with a whopping 1,000 manufacturing jobs finally created instead of destroyed, the US mfg renaissance is finally upon us.

The charts:

Change in Nonfarm Private Employment (in thousands)

Historical Trend - Change in Total Nonfarm Private Employment (in thousands)

Total Nonfarm Private Employment by Company Size (in thousands)

Change in Total Nonfarm Private Employment by Selected Industry (in thousands)

And since ADP does not provide non-seasonally adjusted numbers, it appears to believe credibility is gained among social networks by providing pre-set infographics such as this one:

Infographic: ADP National Employment Report Shows 188,000 Jobs Added in June