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Wed Jun 5, 2019, 08:47 AM

ADP private-sector job growth tumbles to a 9-year low in May

Source: Marketwatch

The numbers: Private-sector employers hired just 27,000 people in May, payroll processor ADP said Wednesday. That badly missed the forecast of 175,000 jobs from economists surveyed by Econoday.

What happened: Small business slashed 52,000 jobs in May, ADP said. Medium-sized firms added 11,000, and large companies added 68,000.

Goods-producing industries shed 43,000 jobs, mostly concentrated in a 36,000 loss for construction; while the service sector added 71,000.

“The economy’s weakening,” ADP architect Mark Zandi said on CNBC this morning. “This number overstates the case,” he added. It’s important to note Zandi used the exact same words last month in describing an upside surprise.

“Growth is slowing, and it’s slowing very sharply," Zandi added. “Business capex is dead in the water.”

Read more: https://www.marketwatch.com/story/adp-private-sector-job-growth-tumbles-to-a-9-year-low-in-may-2019-06-05?mod=newsviewer_click

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Reply ADP private-sector job growth tumbles to a 9-year low in May (Original post)
UpInArms Jun 2019 OP
Hugin Jun 2019 #1
onenote Jun 2019 #11
Iliyah Jun 2019 #2
Roy Rolling Jun 2019 #3
democratisphere Jun 2019 #4
mahatmakanejeeves Jun 2019 #5
Achilleaze Jun 2019 #6
democratisphere Jun 2019 #7
riversedge Jun 2019 #8
mahatmakanejeeves Jun 2019 #9
UpInArms Jun 2019 #10
Hong Kong Cavalier Jun 2019 #12

Response to UpInArms (Original post)

Wed Jun 5, 2019, 08:53 AM

1. There's that booming Republican tax cut economy for you.



Maybe they're hoping for some 'economic anxiety' to get them through 2020.

EDIT TO ADD: And this is the ADP which is always much more optimistic than the real numbers. Almost, irrationally so.

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Response to Hugin (Reply #1)

Thu Jun 6, 2019, 04:26 PM

11. ADP is not "always" more optimistic than the BLS numbers

It definitely was more optimistic when it reported gains of 220,000 jobs and BLS came in at only 56,000. But in January, ADP understated the job growth by nearly 50,000 jobs (ADP=264,000 v. BLS = 312,000) and the same thing happened in March when ADP underreported job growth by 30,000 jobs (158,000 v. 189,000).

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Response to UpInArms (Original post)

Wed Jun 5, 2019, 08:56 AM

2. It's worst than that . . .

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Response to UpInArms (Original post)

Wed Jun 5, 2019, 09:13 AM

3. A fish rots from the head.

Fish floating on the surface aren't great swimmers---they are dead. Those who mistake them for great swimmers will soon smell that mistake.

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Response to UpInArms (Original post)

Wed Jun 5, 2019, 09:18 AM

4. "It's Obama's fault" won't cut it! This one is totally owned by the drumpf crime administration.

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Response to UpInArms (Original post)

Wed Jun 5, 2019, 09:55 AM

5. Private Sector Small Business Employment Decreased by 52,000 Jobs in May, According to ADP

Thank you for starting the thread.

It gets worse:

Private Sector Small Business Employment Decreased by 52,000 Jobs in May, According to ADP Small Business Report

Private sector small business employment decreased by 52,000 jobs from April to May according to the May ADP Small Business Report. Due to the important contribution that small businesses make to economic growth, employment data that are specific to businesses with 49 or fewer employees is reported each month and broadly distributed to the public, free of charge.

ADP National Employment Report: Private Sector Employment Increased by 27,000 Jobs in May

Private-sector employment increased by 27,000 from April to May, on a seasonally adjusted basis.

Total Employment
Change in Nonfarm Private Employment



[CHART] Change in Nonfarm Private Employment
Historical Trend
Change in Total Nonfarm Private Employment



[CHART] Historical Trend - Change in Total Nonfarm Private Employment
Change By Company Size
Change in Total Nonfarm Private Employment by Company Size



[CHART] Change in Total Nonfarm Private Employment by Company Size


[iADP National Employment Report: Private Sector Employment Increased by 27,000 Jobs in May]

ROSELAND, N.J. – June 5, 2019 – Private sector employment increased by 27,000 jobs from April to May according to the May ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® 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.
....

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Response to UpInArms (Original post)

Wed Jun 5, 2019, 09:59 AM

6. Thanks a diaperload, republicans

You are screwing America. As usual.

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Response to Achilleaze (Reply #6)

Wed Jun 5, 2019, 10:28 AM

7. Milking and bilking while leaving US in ruins like 2008.

This time it will be much worse.

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Response to UpInArms (Original post)

Wed Jun 5, 2019, 11:37 AM

8. umm. no response from trump. ummm

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Response to UpInArms (Original post)

Thu Jun 6, 2019, 12:35 PM

9. Links to earlier reports

[center]Past Performance is Not a Guarantee of Future Results.[/center]

Nonetheless, what is important is not this month's results, but the trend. Let’s look at some earlier numbers:

Bureau of Labor Statistics, for employment in April 2019:

UPDATE: U.S. unemployment fell to 3.6 percent, lowest since 1969

ADP[sup]®[/sup] (Automatic Data Processing), for employment in April 2019:

ADP National Employment Report: Private Sector Employment Increased by 275,000 Jobs in April

Bureau of Labor Statistics, for employment in March 2019:

UPDATE: U.S. added 196,000 jobs in March as economy shows signs of spring bounce

ADP[sup]®[/sup] (Automatic Data Processing), for employment in March 2019:

Private sector hiring falls to 18-month low, and manufacturing sheds jobs, ADP says

Bureau of Labor Statistics, for employment in February 2019:

U.S. adds meager 20,000 jobs in February to mark smallest increase in 17 months

ADP[sup]®[/sup] (Automatic Data Processing), for employment in February 2019:

ADP National Employment Report: Private Sector Employment Increased by 183,000 Jobs in February

Bureau of Labor Statistics, for employment in January 2019:

U.S. creates 304,000 jobs in January, unemployment rises to 4%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in January 2019:

U.S. added 213,000 private-sector jobs in January, ADP says

Bureau of Labor Statistics, for employment in December 2018:

Payroll employment increases by 312,000 in December; unemployment rate rises to 3.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in December 2018:

U.S. adds most private-sector jobs in almost 2 years, says ADP

Bureau of Labor Statistics, for employment in November 2018:

Payroll employment increases by 155,000 in November; unemployment rate unchanged at 3.7%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2018:

U.S. adds 179,000 private-sector jobs in November: ADP

Bureau of Labor Statistics, for employment in October 2018:

The U.S. economy added 250,000 jobs in October, unemployment stays at 3.7 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in October 2018:

ADP National Employment Report: Private Sector Employment Increased by 227,000 Jobs in October 2018:

Bureau of Labor Statistics, for employment in September 2018:

Unemployment rate declines to 3.7% in September; payroll employment increases by 134,000

ADP[sup]®[/sup] (Automatic Data Processing), for employment in September 2018:

U.S. adds 230,000 private-sector jobs in September: ADP

Bureau of Labor Statistics, for employment in August 2018:

U.S. Added 201,000 Jobs in August; Unemployment Rate Steady at 3.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in August 2018:

U.S. Firms in August Added Fewest Workers in 10 Months, ADP Says

Bureau of Labor Statistics, for employment in July 2018:

Payroll employment increases by 157,000 in July; unemployment rate edges down to 3.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in July 2018:

ADP National Employment Report: Private Sector Employment Increased by 219,000 Jobs in July

Bureau of Labor Statistics, for employment in June 2018:

U.S. Added 213,000 Jobs in June; Unemployment Ticks Up to 4%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in June 2018:

ADP National Employment Report: Private Sector Employment Increased by 177,000 Jobs in June

Bureau of Labor Statistics, for employment in May 2018:

U.S. economy extends its hiring spree, with a better than expected 223,000 new jobs in May

ADP[sup]®[/sup] (Automatic Data Processing), for employment in April 2018:

U.S. adds 204,000 private-sector jobs in April, ADP report shows

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Response to mahatmakanejeeves (Reply #9)

Thu Jun 6, 2019, 02:55 PM

10. Thank you for always filling in the gaps

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Response to UpInArms (Original post)

Thu Jun 6, 2019, 09:02 PM

12. That doesn't make any sense...

Tangeranus tweeted "JOBS! JOBS! JOBS!" numerous times over the past year or two. Isn't that enough?

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