Obama creates 297,000 JOBS!

[Common Sense]

Early Wednesday, payroll processor ADP said private companies added 297,000 jobs in December. That's nearly three times the 100,000 economists had expected. Treasurys took a dive after the report was released.

Summary Box: Jobs report sends Treasurys lower

you cant say that the tax cuts compromise caused any of this since none of it was in affect during December, and it wasnt even passed until December 16th.

oh but i bet that the Tea Party and GOP will try to somehow claim victory on this one as well..

 

[Modbert]

Early Wednesday, payroll processor ADP said private companies added 297,000 jobs in December. That's nearly three times the 100,000 economists had expected.

Well on the surface at least, this certainly seems like great news.

 

[boedicca]

It's not Great news, but it is decent news.

It would be helpful to know the nature of the jobs - temp vs. perm, and in what sectors.

 

[Common Sense]

Early Wednesday, payroll processor ADP said private companies added 297,000 jobs in December. That's nearly three times the 100,000 economists had expected.

Well on the surface at least, this certainly seems like great news.

agreed, its a huge win for Obama especially with the GOP saying that he doesnt know how to create jobs. but like i said, im sure the Tea Party and GOP will try to spin this their way.... only time will tell

@Bod - im not sure, ADP did not report those numbers which does make me a bit skeptical since there is usually an uptick in seasonal jobs over the holidays. but the good news is that they only forecast 100,000 and the economy actually added 297,000. thats huge for the economy.

 

[Sallow]

Good news.

Expect the greek chrous in Three, Two, One..

 

[boedicca]

It's not a coincidence that December was after the 2010 mid term election.

 

[Common Sense]

It's not a coincidence that December was after the 2010 mid term election.

and there it is..... i was wondering how long it would take for the right to take credit on this one..... all of about 6 posts.

 

[CrusaderFrank]

Hmm 850 billion divided by 297,000 jobs..... yeah that Obama he dun gut

 

[Sallow]

Hmm 850 billion divided by 297,000 jobs..... yeah that Obama he dun gut

40% of which were tax cuts.

So..not sure what you are saying. Tax cuts work? Or they don't?

 

[NYcarbineer]

It's not a coincidence that December was after the 2010 mid term election.

Yes it is.

It's also before the tax cut issue was settled, you know, the issue that was being fraudulently held up by the corporate interests and their tools on the right as creating the uncertainty that was preventing hiring?

a.k.a. total bullshit...

 

[sangha]

Hmm 850 billion divided by 297,000 jobs..... yeah that Obama he dun gut

40% of which were tax cuts.

So..not sure what you are saying. Tax cuts work? Or they don't?

Why ask? It's not like Frank knows what he's saying either

 

[NYcarbineer]

It's not Great news, but it is decent news.

It would be helpful to know the nature of the jobs - temp vs. perm, and in what sectors.

Then why don't you get off that gigantic child scaring monstrosity of cauliflower you call your ass and look it up?

 

[NYcarbineer]

Hmm 850 billion divided by 297,000 jobs..... yeah that Obama he dun gut

40% of which were tax cuts.

So..not sure what you are saying. Tax cuts work? Or they don't?

Why ask? It's not like Frank knows what he's saying either

Frank doesn't realize he's actually acknowledging that the stimulus continues to create jobs. Occupational hazard of the not-so-deep thinker.

 

[Modbert]

40% of which were tax cuts.

So..not sure what you are saying. Tax cuts work? Or they don't?

That little tidbit is constantly forgotten about. It's funny to see the stimulus being railed against in one thread and then tax cuts being called for in another.

 

[Common Sense]

It's not a coincidence that December was after the 2010 mid term election.

Yes it is.

It's also before the tax cut issue was settled, you know, the issue that was being fraudulently held up by the corporate interests and their tools on the right as creating the uncertainty that was preventing hiring?

a.k.a. total bullshit...

i actually stated this in the original post that these jobs were being created before the tax compromise passed. (dec 16th). that and they only predicted 100,000 jobs to be created. the ADP report showed nearly 3 times that many jobs created. whether you want to admit it or not, Obama and democrats can take credit for all these jobs.

 

[boedicca]

a.k.a. total bullshit...

You're self awareness is so unexpectedly refreshing!

The economic consensus is that the BLS report will show a gain of 125K-150K for December, and that the ADP report is screwy.

We'll have to wait and see.

 

[Sallow]

It's not a coincidence that December was after the 2010 mid term election.

Yes it is.

It's also before the tax cut issue was settled, you know, the issue that was being fraudulently held up by the corporate interests and their tools on the right as creating the uncertainty that was preventing hiring?

a.k.a. total bullshit...

i actually stated this in the original post that these jobs were being created before the tax compromise passed. (dec 16th). that and they only predicted 100,000 jobs to be created. the ADP report showed nearly 3 times that many jobs created. whether you want to admit it or not, Obama and democrats can take credit for all these jobs.

My personal take is that corporate entities have been holding up hiring for quite some time, even though they were awash in cash..and lots of work. Things are breaking because of the labor shortage.

But make no mistake..in some sectors they've fundamentally changed how "employment" works. There is a whole new class of "consultant" that work on "fixed time" contracts. My industry has that everywhere. This bodes badly (For now) for a big recovery as there is uncertainty with the new employees..in that they will not be buying homes..and might not be starting families.

 

[Common Sense]

a.k.a. total bullshit...

You're self awareness is so unexpectedly refreshing!

The economic consensus is that the BLS report will show a gain of 125K-150K for December, and that the ADP report is screwy.

We'll have to wait and see.

link......

 

[boedicca]

Yes it is.

It's also before the tax cut issue was settled, you know, the issue that was being fraudulently held up by the corporate interests and their tools on the right as creating the uncertainty that was preventing hiring?

a.k.a. total bullshit...

i actually stated this in the original post that these jobs were being created before the tax compromise passed. (dec 16th). that and they only predicted 100,000 jobs to be created. the ADP report showed nearly 3 times that many jobs created. whether you want to admit it or not, Obama and democrats can take credit for all these jobs.

My personal take is that corporate entities have been holding up hiring for quite some time, even though they were awash in cash..and lots of work. Things are breaking because of the labor shortage.

But make no mistake..in some sectors they've fundamentally changed how "employment" works. There is a whole new class of "consultant" that work on "fixed time" contracts. My industry has that everywhere. This bodes badly (For now) for a big recovery as there is uncertainty with the new employees..in that they will not be buying homes..and might not be starting families.

And your personal take is wrong, como siempre.


Most of the job creation was in small and medium business. 261K of the 297K came from "not corporate entities awash in cash".


Small- and medium-sized businesses added more jobs than large businesses, with 117,000 and 144,000 respectively. Manufacturing jobs grew by 23,000 during the month, while construction, still dampened by a sagging real estate market in the U.S., remained flat.

Small- and medium-sized businesses added more jobs than large businesses, with 117,000 and 144,000 respectively. Manufacturing jobs grew by 23,000 during the month, while construction, still dampened by a sagging real estate market in the U.S., remained flat.

 

[boedicca]

a.k.a. total bullshit...

You're self awareness is so unexpectedly refreshing!

The economic consensus is that the BLS report will show a gain of 125K-150K for December, and that the ADP report is screwy.

We'll have to wait and see.

link......

Do you ever bother to read anything that isn't posted here?

The private sector added 297,000 jobs nationwide in December, according to a report released Wednesday by ADP. But while the report caused a stir in some markets - lifting the dollar, for example, - skeptics say it is just too good to be true.

It was the largest monthly increase since the payroll firm launched its report in 2006 - and about two to three times what many economists expect the federal government's numbers to show Friday.

Economists expect the Labor Department to report a gain of about 150,000 jobs in December compared to November, a Bloomberg News survey said.

Several economists told Newsday Wednesday they expect to see an increase of 125,000 to 165,000 jobs. They said the ADP report, which is often based on a smaller sample and uses different methodology than the government, has been off before.

Ken Goldstein, labor economist for the The Conference Board in Manhattan, said, "I think it's a screwy number, and it's not the first time that ADP has come out with a screwy number."

http://www.newsday.com/business/december-adp-jobs-report-wildly-optimistic-1.2589186