Wed Feb 5, 2020, 02:22 PM
mahatmakanejeeves (35,044 posts)
ADP says 291,000 private-sector jobs created in January, largest gain in 4 years
Source: MarketWatch
ADP says 291,000 private-sector jobs created in January, largest gain in 4 years Published: Feb 5, 2020 9:57 a.m. ET Warm weather 'juiced' the data, Moody's Zandi says By GREG ROBB SENIOR ECONOMICS REPORTER The numbers: Private-sector employment surged 291,000 in January, Automatic Data Processing Inc. reported Wednesday. The gain was well above forecasts from economists surveyed by Econoday who expected a gain of 154,000. It was the largest increase since May 2015. What happened: Small businesses added 94,000 jobs in January, ADP said. Medium-sized businesses added 128,000 and large companies added 69,000 There were broad gains across sectors. According to data on 10 major industries tracked by ADP, leisure and hospitality had the biggest gain in January. Education also had a strong gain. Only mining had a small decline. Big picture: Economists note there has been a big gap recently between ADP and government data, so the strong ADP reading might not lead to many upward estimates for job growth. According to a MarketWatch survey, economists expect 165,000 job gains in January and the unemployment rate to hold steady at 3.5%, a 50-year low. Most economists expects a slower pace of job growth as the year progresses. Read more: https://www.marketwatch.com/story/adp-says-291000-private-sector-jobs-created-in-january-largest-gain-in-4-years-2020-02-05 I don't know how I forgot to post this. -- -- -- -- -- JANUARY 2020 ADP National Employment Report Private-sector employment increased by 291,000 from December to January, on a seasonally adjusted basis. https://www.adpemploymentreport.com/2020/January/NER/NER-January-2020.aspx
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22 replies, 2175 views
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Author | Time | Post |
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mahatmakanejeeves | Feb 2020 | OP |
bucolic_frolic | Feb 2020 | #1 | |
texasfiddler | Feb 2020 | #2 | |
Recursion | Feb 2020 | #18 | |
cstanleytech | Feb 2020 | #3 | |
mahatmakanejeeves | Feb 2020 | #4 | |
Roland99 | Feb 2020 | #5 | |
sandensea | Feb 2020 | #7 | |
mahatmakanejeeves | Feb 2020 | #10 | |
Igel | Feb 2020 | #19 | |
Roland99 | Feb 2020 | #20 | |
sandensea | Feb 2020 | #6 | |
yaesu | Feb 2020 | #8 | |
Wellstone ruled | Feb 2020 | #9 | |
Roland99 | Feb 2020 | #14 | |
onenote | Feb 2020 | #21 | |
gldstwmn | Feb 2020 | #11 | |
jcmaine72 | Feb 2020 | #12 | |
Traildogbob | Feb 2020 | #13 | |
Roland99 | Feb 2020 | #15 | |
Midnight Writer | Feb 2020 | #16 | |
groundloop | Feb 2020 | #17 | |
heckles65 | Feb 2020 | #22 |
Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:27 PM
bucolic_frolic (23,140 posts)
1. I think this report is an outright pack of lies
Help wanted in my region is a quarter of what it was in September. Businesses are still closing, even as new shopping malls are built. Maybe this is the Trump-SOTU jobs report release?
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:27 PM
texasfiddler (1,091 posts)
2. More low wage jobs?
Response to texasfiddler (Reply #2)
Wed Feb 5, 2020, 04:39 PM
Recursion (56,343 posts)
18. Nope, wages have been increasing at the fastest rate on record since 2015
I mean, yes, there are probably some low-wage jobs in that 291,000, but much fewer than in years past
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:29 PM
cstanleytech (22,205 posts)
3. Number of new jobs though means jack shit if said jobs are low paying ones as what
we need is significant growth of the middle and upper middle class.
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:30 PM
mahatmakanejeeves (35,044 posts)
4. Links to earlier reports:
Thursday, January 9, 2020: Links to earlier reports:
Updated from this post of Friday, December 6, 2019: Good morning. 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 December 2019: Economy adds 145,000 jobs in December as unemployment rate remains at 3.5 percent ADP[sup]®[/sup] (Automatic Data Processing), for employment in December 2019: U.S. private sector adds the most jobs in eight months Bureau of Labor Statistics, for employment in November 2019: Labor market remained strong in November as U.S. economy added 266,000 jobs ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2019: U.S. private sector job growth slows down sharply in November: ADP Bureau of Labor Statistics, for employment in October 2019: U.S. economy added 128,000 jobs in October as GM strike displaced workers; jobless rate ticks up Bureau of Labor Statistics, for employment in September 2019: U.S. economy added just 136,000 jobs in September, in fresh sign economy is cooling ADP[sup]®[/sup] (Automatic Data Processing), for employment in September 2019: ADP National Employment Report: Private Sector Employment Increased by 135,000 Jobs in September Bureau of Labor Statistics, for employment in August 2019: U.S. economy adds just 130,000 jobs in August amid worries ADP[sup]®[/sup] (Automatic Data Processing), for employment in August 2019: Survey: Businesses added a solid 195,000 jobs in August Bureau of Labor Statistics, for employment in July 2019: U.S. Added 164,000 Jobs in July; Unemployment Rate at 3.7 Percent ADP[sup]®[/sup] (Automatic Data Processing), for employment in July 2019: ADP says 156,000 private-sector jobs added created in July Bureau of Labor Statistics, for employment in June 2019: Hiring rebounds as U.S. economy adds 224,000 jobs in June;unemployment rate inched up to 3.7 percent ADP[sup]®[/sup] (Automatic Data Processing), for employment in June 2019: U.S. private sector hiring picks up less than expected in June: ADP Bureau of Labor Statistics, for employment in May 2019: The U.S. economy added only 75,000 jobs in May amid bite from Trump's trade war ADP[sup]®[/sup] (Automatic Data Processing), for employment in May 2019: ADP private-sector job growth tumbles to a 9-year low in May 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 |
Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:33 PM
Roland99 (52,113 posts)
5. With unemployment at such a low level, 300,000 jobs in a month seems ridiculous
Response to Roland99 (Reply #5)
Wed Feb 5, 2020, 02:35 PM
sandensea (13,521 posts)
7. I suspect Cheeto's having someone play with the numbers
Just like he always has, his whole life.
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Response to sandensea (Reply #7)
Wed Feb 5, 2020, 02:46 PM
mahatmakanejeeves (35,044 posts)
10. This is ADP, not BLS. That comes out on Friday. NT
Response to Roland99 (Reply #5)
Wed Feb 5, 2020, 05:11 PM
Igel (31,554 posts)
19. Not BLS.
And these things tend to have built-in error, fixing previous months and fixed in later months.
However, what'll be worth looking at are those unattached to the labor force next month--there's a measure of unemployment that includes those who haven't been looking for work and it might be that a chunk of those rejoined the labor force. |
Response to Igel (Reply #19)
Wed Feb 5, 2020, 05:12 PM
Roland99 (52,113 posts)
20. Yeah. It's ADP. All private sector
And it would be quite the outlier for LFPR to jump that much
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:33 PM
sandensea (13,521 posts)
6. "It was the largest increase since May 2015..." - and who was president at the time?
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:38 PM
yaesu (5,812 posts)
8. That is a lot of burger flipping. nt
Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:45 PM
Wellstone ruled (34,661 posts)
9. Major staffing up for the Cenus.
Estimated to be 250k.
This is the DU member formerly known as Wellstone ruled.
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Response to Wellstone ruled (Reply #9)
Wed Feb 5, 2020, 03:11 PM
Roland99 (52,113 posts)
14. Ok. That makes sense
Response to Roland99 (Reply #14)
Wed Feb 5, 2020, 05:27 PM
onenote (35,668 posts)
21. Nope. This is all private sector employment.
Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 02:51 PM
gldstwmn (1,961 posts)
11. The only thing they forgot to include is what those
jobs pay.
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 03:02 PM
jcmaine72 (1,364 posts)
12. I have seen evidence of this economic miracle of miracles myself!!
My local car wash just hired two new cleaners. Dotard's economic genius has really elevated our nation to heights never before seen.
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 03:09 PM
Traildogbob (2,658 posts)
13. Fake news
Doctored numbers. Book keeping fraud. Just like the Black Guy did. Real unemployment is 50, 60, maybe 70 percent. The greatest unemployment in the history of the world. MAGA.
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 03:17 PM
Roland99 (52,113 posts)
15. Leisure/Hospitality - 96,000 .... Education/Heathcare - 70,000
the bulk of it.
https://www.adpemploymentreport.com/2020/January/NER/docs/NERinfographic-January2020.pdf Healthcare was 47,000 of that 70,000 |
Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 03:19 PM
Midnight Writer (10,425 posts)
16. Largest employer in my small town (Pop. 14,000) just announced closure, over 1000 layoffs.
Folks are scrambling, this will kill the economy here.
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Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 03:25 PM
groundloop (9,706 posts)
17. I know of a Goodyear plant that's closing while they ship jobs to Mexico....
Why isn't the Great tRump putting a stop to that?
Furthermore, I have to wonder if a lot of the 'created' jobs were people taking on a second job to make ends meet because their primary job pays so poorly. |
Response to mahatmakanejeeves (Original post)
Wed Feb 5, 2020, 07:32 PM
heckles65 (181 posts)
22. When people say the economy is so great, respond by asking if they've heard this word of late...
"Sequester." Remember "sequester"? How about the term "fiscal cliff," which the U.S. was going to dive over? How about comparisons to Greece?
Don't hear these any more, do you? What's my point? The point is we now have the economy we could have had eight years ago - if the Tea Party had let us. It's 2020. No more pinchpenny state governments. No more "California is collapsing" news articles. The Republicans are in power and deficits don't matter anymore. |