ADP National Employment Report Shows 130,000 Jobs Added in October
Last edited Wed Dec 4, 2013, 11:13 AM - Edit history (1)
Link: http://www.adpemploymentreport.com/2013/October/NER/NER-October-2013.aspx
Source: Automatic Data Processing, Inc. (ADP®)
== == == ==
ADP NATIONAL EMPLOYMENT REPORT: PRIVATE SECTOR EMPLOYMENT INCREASED BY 130,000 JOBS IN OCTOBER
ROSELAND, N.J. – October 30, 2013 – Private sector employment increased by 130,000 jobs from September to October, according to the October ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. September’s job gain was revised down from 166,000 to 145,000.
Goods-producing employment rose by 24,000 jobs in October, up from 16,000 in September. Construction payrolls added 14,000 jobs, while manufacturing payrolls increased by 5,000.
Service-providing industries added 107,000 jobs in October, down from 130,000 in September. Among the service industries reported by the ADP National Employment Report, trade/transportation/utilities added the most jobs with 40,000 over the month. Professional/business services employment rose by 20,000, while financial activities shed 5,000 jobs.
"According to ADP National Employment Report findings, the U.S. private sector added a total of 130,000 jobs during the month of October, well below the average of the last twelve months,” said Carlos Rodriguez, president and chief executive officer of ADP. "Small business growth was down from the previous month, while payrolls among large enterprises showed an increase." ... Mark Zandi, chief economist of Moody’s Analytics, said, "The government shutdown and debt limit brinksmanship hurt the already softening job market in October. Average monthly growth has fallen below 150,000. Any further weakening would signal rising unemployment. The weaker job growth is evident across most industries and company sizes.”
....
The November 2013 ADP National Employment Report will be released at 8:15 a.m. ET on December 4, 2013.
About the ADP National Employment Report
Chart 1. Change in Total Nonfarm Private Employment
Chart 2. Historical Trend - Change in Total Nonfarm Private Employment
== == == == ==
Good afternoon, Freepers and DUers alike. I especially welcome viewers from across the aisle. Please, everyone, put aside your differences long enough to digest the information. After that, you can engage in your usual donnybrook.
I wasn't expecting this to have been released today. The figure of 130,000 is disappointly low.
What is important about these statistics is not so much this month’s number, but the trend. So let’s look at some earlier numbers.
ADP, for employment in September 2013:
{Announced Two Weeks Ago}: ADP National Employment Report Shows 166,000 Jobs Added in September
http://www.democraticunderground.com/111642242
BLS, for employment in April 2013:
April payroll employment increases by 165,000; unemployment rate changes little (7.5%)
http://www.democraticunderground.com/111634764
ADP, for employment in April 2013:
http://www.democraticunderground.com/1014470978
US Economy Added 119000 Private-Sector Jobs in April, According to ADP National Employment Report
BLS, for employment in March 2013:
http://www.democraticunderground.com/1014445294
March payroll employment edges up (+88,000); unemployment rate changes little (7.6%)
ADP, for employment in March 2013:
http://www.democraticunderground.com/1014442827
U.S. Economy Added 158,000 Private-Sector Jobs in March, According to ADP National Employment Report
BLS, for employment in February 2013:
http://www.democraticunderground.com/1014419050
February payroll employment rises (+236,000); unemployment rate edges down (7.7%)
ADP, for employment in February 2013:
http://www.democraticunderground.com/111631869
U.S. Economy Added 198,000 Private-Sector Jobs in February, According to ADP Employment Report
BLS, for employment in January 2013:
http://www.democraticunderground.com/1014387295
January payroll employment rises (+157,000); jobless rate essentially unchanged (7.9%)
ADP, for employment in January 2013:
http://www.democraticunderground.com/1014384927
U.S. Economy Added 192,000 Private-Sector Jobs in January, According to ADP National Employment Repo
One more thing:
So how many jobs must be created every month to have an effect on the unemployment rate? There's an app for that:
Federal Reserve Bank of Atlanta Jobs Calculator™
http://www.frbatlanta.org/chcs/calculator/index.cfm
Well, enough of that. On with the show.
(Edited to get the comments down to a semblance of a reasonable size)
