BLS Monthly Report

Discussion in 'Economy' started by Wehrwolfen, Nov 1, 2012.

  1. Wehrwolfen
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    Wehrwolfen Senior Member

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    It Begins: ADP Cuts September Job Creation Numbers By Almost 50%…​



    It Begins: ADP Cuts September Job Creation Numbers By Almost 50%… | Weasel Zippers
    1 Nov 12

    The economy is still a mess and we’re being told unemployment is at 7.8%, what a joke.​


    Via CNBC:
    New ADP Count Slashes Job Creation Total for September - US Business News - CNBC


    Revisions to the way payroll data firm ADP counts private sector job creation have resulted in a sharp drop in the September employment count.

    ADP’s new calculations put the monthly job creation at just 88,200, down from the 162,000 the firm originally reported earlier this month.

    The firm recently has entered into a partnership with Moody’s Analytics that will change the way the private payroll count is calculated.

    The new private payroll count now is actually under Labor’s September job creation household survey net total of 114,000, 104,000 of which came from the private sector.

    The unemployment rate dropped last month to 7.8 percent. Separately, as the government’s establishment survey said the total number of new private-sector workers swelled by 873,000. (Read More: Consumer Prices Rise on Energy Surge; No Pay Gains)

    Economists expect Friday’s report to show 125,000 new jobs and the jobless rate to hold steady.

    The soft ADP count could add credence to those who believe the pace of job creation is slower than the government’s numbers indicate.

    “It’s huge, no doubt about it,” said Todd Schoenberger, managing principal at the BlackBay Group in New York. “Their changing the methodology tells me that if the number is cut in half with that revision, then the revision we’re going to see Friday is going to be a disaster.”
     
  2. theHawk
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    theHawk Registered Conservative

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    LOL what a surprise, Obama was full of shit and had his goons lie about the jobs report right before the election.
     
  3. francoHFW
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    francoHFW Platinum Member

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    Pubcrappe, for dupes only...
     
  4. Conservative
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    Conservative Type 40

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    CNBC is pubcrap for dupes only? You might want to tell the other libatrds they've bee pubduped :rofl:
     
  5. oldfart
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    oldfart Older than dirt

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    Total non-farm jobs increased 171,000, exceeding expectations while the U-3 rate decreqased on a raw basis and upticked to 7.9% on a seasonally adjusted basis. The broader U-6 finally broke 14% coming in at 13.9%, Labor force participation rate showed a slight uptick.

    Overall a positive report, but not spectacular.
     
  6. TNHarley
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    TNHarley Gold Member

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    Ehhhhh not really.. But hey, if you like obama, you have definately got to be a glass half FULL kinda person
     
  7. longknife
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    longknife Platinum Member

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    by Owen

    This isn’t good at all. In a country of 315 million people, adding 88,000 jobs a month - especially after losing so many in the past few years - is… how do you say… not ideal.

    (Reuters) - The increase in the number of U.S. private-sector jobs in September was only half of what was initially reported, Automatic Data Processing (ADP.O) said after revamping its monthly National Employment Report.

    ADP said last week it has overhauled the report to put it more in line with the final revised numbers released by the government in its closely watched nonfarm payrolls report.

    As part of the process, ADP has revised its historical data going back to 2001 with its new methodology. September’s figures now show a gain of 88,200 private sector jobs for the month, down from the initial figure of 162,000 from its old report.

    August was also lowered to 76,400 from 189,000.

    {extended} @ Boots and Sabers - The blogging will continue until morale improves...

    :eusa_whistle::eusa_whistle::eusa_whistle:
     
  8. oldfart
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    oldfart Older than dirt

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    This report came in better than anticipated in almost every regard. Reich had job growth at 125,000. What's your beef?
     
  9. uscitizen
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    uscitizen Senior Member

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    We need to defund the BLS. We would have no more of these dissapointing statistics.
     
  10. PredFan
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    PredFan Gold Member

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    Thank God for the GOP state governors!
     

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