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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 08:59 AM
Original message
Private sector adds most jobs in nearly a year
Source: Reuters

NEW YORK (Reuters) - Private sector job growth accelerated in November as employers created the most jobs in nearly a year, prompting economists to raise their forecasts for Friday's more comprehensive U.S. labor report.

The ADP National Employment Report on Wednesday showed private employers added 206,000 jobs this month, surpassing economists' expectations for a gain of 130,000 jobs. It was the biggest gain since December 2010.

"The ADP news is very good news. The private sector is adding jobs," said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.

<...>

October's private payrolls growth was revised up to an increase of 130,000 from the previously reported 110,000. The ADP report is jointly developed with Macroeconomic Advisers LLC.

Read more: http://news.yahoo.com/private-sector-adds-206-000-jobs-...
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:06 AM
Response to Original message
1. ADP is as accurate as my left nut. Almost all of it in "service-providing" jobs.
"Employment in the private, service-providing sector rose 178,000 in November, which is up from an increase of 130,000 in October. Employment in the private, goods-producing sector increased 28,000 in November, while manufacturing employment increased 7,000."

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:14 AM
Response to Reply #1
2. Well,
"ADP is as accurate as my left nut. Almost all of it in "service-providing" jobs."

...maybe, but if the headline read, "Private sector adds fewest jobs...," it would have been posted with lots of interest.

ADP is what it is.

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Nye Bevan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:19 AM
Response to Reply #1
3. Is there something wrong with "service-providing" jobs?
Don't these jobs provide a regular paycheck just like any other job?
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:24 AM
Response to Reply #3
6. sure..if you don't mind low-paying, no benefits, part-time, etc.
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dmallind Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:24 AM
Response to Reply #3
7. Nurses, teachers, firefighters - all service jobs are somehow inferior to a wrench turner on a line
at least according to DU doomers.
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Nye Bevan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:28 AM
Response to Reply #7
11. or working in a factory processing chicken pieces (nt)
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:29 AM
Response to Reply #7
12. except government cutbacks are hurting the ranks of teachers, first responders, etc.
Edited on Wed Nov-30-11 09:36 AM by Roland99
oh, and btw, this is a report of "private sector" jobs. Teachers and firefighters wouldn't be included.

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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 12:12 PM
Response to Reply #7
22. the point is "add jobs" - teachers are being assaulted and replaced with long term temps nt
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dmallind Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:22 AM
Response to Reply #1
4. Funny - it was worth posting here....
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:23 AM
Response to Reply #4
5. nothing wrong with posting data points in the SMW thread. You must not go there much.
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dmallind Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:25 AM
Response to Reply #5
8. Only when they're down somehow....
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:27 AM
Response to Reply #8
10. oh really? then what's this?
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MjolnirTime Donating Member (218 posts) Send PM | Profile | Ignore Wed Nov-30-11 10:21 AM
Response to Reply #10
17. We get it. You want to piss on the good news. Do expect us to like it?
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 10:36 AM
Response to Reply #17
19. not pissing on anything.
ADP is *notoriously* inaccurate.

has been for a long time.


Plus, the reality of what they did report shows the largest increase in service-providing jobs for small business (less than 50 employees).

It's good to see a rise in mfg jobs but one month does not a trend make.

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Yo_Mama Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:26 AM
Response to Reply #1
9. No, this is significant
First, when you add jobs in manufacturing it usually creates a lot of service jobs. A lot of service jobs are in services provided to businesses.

Second, ADP is showing a turn because manufacturing employment fell for a while earlier this year (which also showed up in the official US employment reports, the regional manufacturing reports, etc.

So it is very good news.
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MjolnirTime Donating Member (218 posts) Send PM | Profile | Ignore Wed Nov-30-11 10:19 AM
Response to Reply #1
15. Not good enough for you, huh? You must not be out of work.
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Muskypundit Donating Member (417 posts) Send PM | Profile | Ignore Wed Nov-30-11 09:30 AM
Response to Original message
13. So how much of this is
Nordstroms hiring for the holidays?
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snappyturtle Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 09:43 AM
Response to Reply #13
14. Exactly what I think! nt
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MjolnirTime Donating Member (218 posts) Send PM | Profile | Ignore Wed Nov-30-11 10:20 AM
Response to Reply #13
16. I see your first reaction is detraction. Nice.
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Muskypundit Donating Member (417 posts) Send PM | Profile | Ignore Wed Nov-30-11 11:37 AM
Response to Reply #16
21. Naturally. These numbers are complete bogus that change all the time for time periods already passed
And seasonal hiring is a BIG reason for additional hiring during this time of the year. Especially since it is mostly service jobs. Which is all seasonal work is. Look at the numbers and info before getting all naive.
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 07:04 PM
Response to Reply #13
26. "Macy's To Hire Thousands" (78,000 temp jobs)
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Scurrilous Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 10:23 AM
Response to Original message
18. Good news.
K & R :thumbsup:
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Cognitive_Resonance Donating Member (733 posts) Send PM | Profile | Ignore Wed Nov-30-11 10:44 AM
Response to Original message
20. I can't understand unrec'ng positive news. Rush isn't alone in hoping for failure. nt+
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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 06:57 PM
Response to Reply #20
24. Obama must fail - doomers uber alles
get wih the plan

:D
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DCBob Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 05:35 PM
Response to Original message
23. Republicans are in deep despair with all this positive news.
Edited on Wed Nov-30-11 06:04 PM by DCBob
-- progress in Europe
-- stock market up nearly 500 points.
-- jobs numbers improving
-- Black Friday and Cyber Monday setting records
-- companies posting record profits.
-- manufacturing up
-- consumer confidence up

Meanwhile the GOP candidates are fighting for the distinction of being the dumbest group of individuals to ever run for President.

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Kingofalldems Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 07:00 PM
Response to Original message
25. Kick and Rec
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