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Wehrwolfen

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

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

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

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

Thank God for the GOP state governors!
 
by Owen


(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.

Is there some particular reason you choose to look at the ADP report which preceedss the BLS report by one day, rather than look at the BLS report? ADP is spectacularly wrong about twice a year.
 
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.

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

And just look at to whom they went:

Two-thirds of those who have found employment under President Obama are immigrants, both legal and illegal, according to an analysis that suggests immigration has soaked up a large portion of what little job growth there has been over the past three years.


Read more: Two-thirds of jobs go to immigrants during Obama's four years - Washington Times Two-thirds of jobs go to immigrants during Obama's four years - Washington Times
 
I had to laugh pretty good at CNN's response to the report "The good news in the jobless rate"...what kool aid people like the OP do not see or want to see - is that the jobless rate INCREASED more than the jobs "created"...however CNN says this is good news because it could mean that more people started looking for a job because they are more positive then before they can get one.
Man - they really had to break out the KY jelly for that one.
 
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.

At the same time, the number of unemployed grew by 170,000.

Not at all spectacular, when you consider that last month, the unemployment rate was 7.8% [supposedly] and now it is 7.9%.

That rate is also higher than when Obama took office in `09.

R&R in 2012. :clap2: Let's give the voice of experience in business and politics, as governor of MA who balanced his budget, a chance to do better.

And WE WILL be doing checks and balances on Romney, as well.
 
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.

Thank God for the GOP

About TIME you just admitted it.
 
Only can the Obama borg believe the unemployment number rising is good news.
Spin cycle on high please.

Where exactly do you get the idea the number of unemployed increased? Or do you not know the difference between the sesonally adjusted figure and the raw figures?
 

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