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Wed May 2, 2012, 08:46 AM

Per CNBC - ADP Numbers bad

"Only 119k jobs added in April"

8 replies, 1848 views

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Reply Per CNBC - ADP Numbers bad (Original post)
Laura PourMeADrink May 2012 OP
MannyGoldstein May 2012 #1
Laura PourMeADrink May 2012 #2
leftynyc May 2012 #3
MannyGoldstein May 2012 #4
Laura PourMeADrink May 2012 #5
ProSense May 2012 #6
Laura PourMeADrink May 2012 #7
dmallind May 2012 #8

Response to Laura PourMeADrink (Original post)

Wed May 2, 2012, 08:54 AM

1. But the Dow is almost back to pre-crash heights

So, no worries.

(for the top 10%)

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Response to MannyGoldstein (Reply #1)

Wed May 2, 2012, 09:08 AM

2. Double bonus for Romney. Gets to say recovery too slow, too few jobs, plus he

gets his bank account fattened. More money for Ann to buy $990 blouses.

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Response to MannyGoldstein (Reply #1)

Wed May 2, 2012, 09:10 AM

3. Way more than the top 10%

have money in the market. Everyone with a 401k plan has money in the market. I'm thrilled at how the market has performed during Pres Obama's first term.

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Response to leftynyc (Reply #3)

Wed May 2, 2012, 09:13 AM

4. 80% of stocks are held by the top 10% nt

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Response to MannyGoldstein (Reply #4)

Wed May 2, 2012, 09:23 AM

5. Isn't it all relative though? My IRA is 100% composed of stock. It may be a pittance compared

to the entire equity market, but, if the market does well, my IRA does well.

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Response to Laura PourMeADrink (Original post)

Wed May 2, 2012, 09:36 AM

6. Given that

ADP is typically regarded as unreliable, it'll be interesting to see what Friday brings.

The ADP report was off by about 80,000 in January (showing fewer than BLS) and March (coming in more than BLS):

<...>

The number of jobs added was the fewest ADP has reported in seven months. Stock futures fell after the report was released.

The survey, which covers hiring only in the private sector, has been known to deviate sharply from the government's figures, which wil, be released Friday. For example, the government said employers added just 120,000 jobs in March much lower than ADP's estimate.

http://www.usatoday.com/money/economy/story/2012-05-02/adp-job-estimate-april/54682794/1


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Response to ProSense (Reply #6)

Wed May 2, 2012, 10:38 AM

7. gallup says "US Job Creation Near four Year High"

http://www.gallup.com/poll/154406/Job-Creation-Nears-Four-Year-High.aspx

PRINCETON, NJ -- Gallup's Job Creation Index increased to +20 in April from +18 in March. Net new hiring is now at its best level since July 2008 and is near +26 -- the highest score Gallup has recorded since tracking began in January 2008.

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Response to Laura PourMeADrink (Reply #7)

Wed May 2, 2012, 10:49 AM

8. That's a forward looking measure. ADP backward looking

It's no weirder that they disagree than weather forecasts for yesterday and tomorrow (less accurate to boot). Gallup measures self-reported intent to add or shed jobs. ADP measures new jobs already added to payrolls (by a subset of employers).

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