Can you explain in plain English to this Finance-o-phobe what this meansn the short and long run..
Factories, workers hit by weakening US recovery i
Factories, workers hit by weakening US recovery i
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The ADP report is based on data from about 340,000 businesses employing more than 21 million workers. It is supposed to be independent and fairly accurate.
IMHO, some of this has gotta be the Mississippi flooding and the terrible tornados in the south and midsection of the country. And some of it may also be the inability of our elected leaders to work together on the debt/deficit and to get the economy growing and creating more jobs. Consumer confidence took a big hit in May, as did housing prices. None of this bodes well for the future, short, medium, or long term.
The market tends to be more skeptical of the ADP data than the BLS data.
Also companies that laid off over the past few years found out how to get by without those employees when things started looking up. I don't see any real job growth for several years to come...what is out there that would create it?