task0778
Diamond Member
ADP National Employment Report: Private Sector Employment Increased by 475,000 Jobs in February
Good news for the country, at a time when we could use some. We need people working and contributing.
Perhaps even better news is their revision to their Jan numbers...
The matched sample used to develop the ADP National Employment Report was derived from ADP payroll data, which represents 460,000 U.S. clients employing nearly 26 million workers in the U.S. The January total of jobs added was revised from -301,000 to 509,000.
It's good to see people going back to work, but something about those numbers is confusing to me. How do you revise the total number of jobs added in 1 month from -301k to 509k? That's too big of a jump for me, and rather begs the question of the accuracy of both numbers. Good report though, possibly due in part to the end of the bonus child care credit that expired on Jan 1. This is the chart that kinda tells us how we're really doing though:
It's the historical trend of the Change in Total Nonfarm Private Employment.
AND:
This one is the Total Employment numbers in Total Nonfarm Private Employment. I look at these charts and see things aren't going south but not going north a whole lot either.