U.S. Companies Added 247,000 Jobs in April, ADP Data Show

[mahatmakanejeeves]

Source: Bloomberg

U.S. Companies Added 247,000 Jobs in April, ADP Data Show

-- Hiring was weaker than forecast, smallest gain of recovery

-- Other data suggest labor market robust ahead of Fed decision

By Reade Pickert
May 4, 2022, 8:16 AM EDT Updated on May 4, 2022, 8:43 AM EDT

@readep
https://www.twitter.com/readep

U.S. companies added in April the fewest jobs in the pandemic recovery, underscoring the persistent challenges faced by small firms to increase headcount in a tight labor market.

Businesses' payrolls increased by 247,000 last month, after a revised 479,000 gain in March, according to ADP Research Institute data released Wednesday. The median estimate in a Bloomberg survey of economists called for a 383,000 advance. ... Businesses with 500 or more employees posted solid hiring gains, but those with less than 50 lost 120,000 jobs in April, the worst in two years.

"While hiring demand remains strong, labor supply shortages caused job gains to soften for both goods producers and services providers," Nela Richardson, chief economist at ADP, said in a statement. "As the labor market tightens, small companies, with fewer than 50 employees, struggle with competition for wages amid increased costs."

The weaker-than-expected advance suggests firms are making little progress filling a record number of job openings despite recent wage increases. Many businesses still desperately want to hire more workers, but a depressed participation rate continues to limit further employment growth. ... The figures precede the government's monthly jobs report on Friday, which is currently forecast to show private payrolls increased by 390,000 in April. The ADP figures don't always follow the same pattern as the Labor Department's data.

{snip}

Read more: https://www.bloomberg.com/news/articles/2022-05-04/companies-in-u-s-added-247-000-jobs-in-april-adp-data-show

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https://adpemploymentreport.com/2022/April/NER/Report

[mahatmakanejeeves]

1. Links to earlier reports:

Wed May 4, 2022: Links to earlier reports (this one):

Fri Apr 1, 2022: Links to earlier reports:

Wed Mar 30, 2022: Links to earlier reports:

Fri Mar 4, 2022: Links to earlier reports:

Wed Mar 2, 2022: Links to earlier reports:

Fri Feb 4, 2022: Links to earlier reports:

Wed Feb 2, 2022: Links to earlier reports:

Wed Jan 12, 2022: Links to earlier reports:

Wed Jan 5, 2022: Links to earlier reports:

Sat Dec 4, 2021: Links to earlier reports:

Wed Dec 1, 2021: Links to additional earlier reports:

Fri Nov 5, 2021: (I had to split the links into two posts, due to "Forbidden 403" issues)

Links to earlier reports:

Links to additional earlier reports:

Wed Nov 3, 2021: Links to earlier reports:

Fri Oct 8, 2021: Links to earlier reports:

Wed Oct 6, 2021: Links to earlier reports:

Fri Sep 3, 2021: Links to earlier reports:

Thu Sep 2, 2021 (in the Friday, August 6, BLS thread): Links to earlier reports:

Wed Aug 4, 2021: Links to earlier reports:

Sat Jul 10, 2021: Links to earlier reports:

Wed Jun 30, 2021: Links to earlier reports:

Fri Jun 4, 2021: Links to earlier reports:

Thu Jun 3, 2021: Links to earlier reports:

Fri May 7, 2021: Links to earlier reports:

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Fri Mar 5, 2021: Links to earlier reports:

Wed Mar 3, 2021: Links to earlier reports:

-- -- -- -- -- --

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

ADP^® (Automatic Data Processing), for employment in April 2022 (this one):

U.S. Companies Added 247,000 Jobs in April, ADP Data Show

Bureau of Labor Statistics, for employment in March 2022:

U.S. economy adds 431,000 jobs in March

ADP^® (Automatic Data Processing), for employment in March 2022:

Private payrolls rose by 455,000 in March, topping expectations: ADP

Bureau of Labor Statistics, for employment in February 2022:

February jobs report: Payrolls rise by 678,000 as unemployment rate falls to 3.8%

ADP^® (Automatic Data Processing), for employment in February 2022:

Private payrolls rose by 475,000 in February, topping expectations: ADP

Bureau of Labor Statistics, for employment in January 2022:

January jobs report: Payrolls jump by 467,000 as unemployment rate rises to 4.0%

ADP^® (Automatic Data Processing), for employment in January 2022:

Companies unexpectedly cut 301,000 jobs in January as omicron slams jobs market, ADP says

Bureau of Labor Statistics, for employment in December 2021:

December jobs report: Payrolls rise by 199,000 as unemployment rate falls to 3.9%

ADP^® (Automatic Data Processing), for employment in December 2021:

December private payrolls rose by 807,000, far exceeding expectations: ADP

Bureau of Labor Statistics, for employment in November 2021:

U.S. economy adds just 210,000 jobs in November

ADP^® (Automatic Data Processing), for employment in November 2021:

November private payrolls rose by 534,000 topping expectations: ADP

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

ADP^® (Automatic Data Processing), for employment in November 2021:

November private payrolls rose by 534,000 topping expectations: ADP

Bureau of Labor Statistics, for employment in October 2021:

October jobs report: Payrolls grew by 531,000 as unemployment rate fell to 4.6%

ADP^® (Automatic Data Processing), for employment in October 2021:

October private payrolls rose by 571,000, topping expectations: ADP

Bureau of Labor Statistics, for employment in September 2021:

Yahoo Finance September jobs report: Economy adds back disappointing 194,000 jobs, unemployment rate

ADP^® (Automatic Data Processing), for employment in September 2021

September private payrolls rose by 568,000, topping estimates: ADP

Bureau of Labor Statistics, for employment in August 2021:

August jobs report: Payrolls rise by disappointing 235,000 while unemployment rate falls to 5.2%

ADP^® (Automatic Data Processing), for employment in August 2021:

August private payrolls rose by 374,000, missing estimates: ADP

Bureau of Labor Statistics, for employment in July 2021:

July jobs report: Economy adds back 943,000 payrolls, unemployment rate falls to 5.4%

ADP^® (Automatic Data Processing), for employment in July 2021:

Private payrolls rose by 330,000 in July, missing estimates: ADP

Bureau of Labor Statistics, for employment in June 2021:

U.S. economy added 850,000 jobs in June as labor market showed renewed strength

ADP^® (Automatic Data Processing), for employment in June 2021:

Private payrolls increased by 692,000 in June, beating expectations: ADP

Bureau of Labor Statistics, for employment in May 2021:

U.S. economy adds 559,000 jobs in May, as the recovery shows signs of strength

ADP^® (Automatic Data Processing), for employment in May 2021:

Private-sector employment increased by 978,000 from April to May, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in April 2021:

Economy picked up 266,000 jobs in April, fewer than expected as economy tries to rebound

ADP^® (Automatic Data Processing), for employment in April 2021:

Private-sector employment increased by 742,000 from March to April, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in March 2021:

The U.S. economy added 916,000 jobs in March as recovery gains steam again

ADP^® (Automatic Data Processing), for employment in March 2021:

Private employers added back 517,000 jobs in March, missing expectations: ADP

[IronLionZion]

2. Thank You Brandon

[progree]

3. Big rate hike decision announcement due in less than an hour

expected to be 0.50% with near metaphysical certainty.

This would be the first time we've had a 0.50% rate hike in one gulp since May 2000:

https://finance.yahoo.com/news/the-fed-is-about-to-do-something-it-has-not-done-in-two-decades-morning-brief-100029366.html

In the face of “inflationary imbalances,” the Fed led by Alan Greenspan raised interest rates by 0.50% to a target of 6.5%. ((in May 2000)). That would be the last time the Fed would ever raise interest rates by that much in one move, opting instead to 0.25% increases at a time.

... measures of inflation (personal consumption expenditures) were showing prices rising annually by 2.4% in May 2000

Coincidentally or not, the stock market peak was in March 2000 (S&P 500).

The market is up a bit as I write this, so apparently isn't too worried about it.

Two days from now the big BLS jobs report, Friday 830a ET.

[mahatmakanejeeves]

4. Yahoo Finance: Private payrolls rose by 247,000 in April, missing expectations

Yahoo Finance

Private payrolls rose by 247,000 in April, missing expectations

Wed, May 4, 2022, 8:16 AM · 3 min read

Payrolls rose less-than-expected in the U.S. private sector last month, as employers worked to fill persistent vacancies to help meet demand.

Private-sector payrolls grew by 247,000 in April, ADP said in its closely watched monthly report on Wednesday. This came following an increase of 479,000 private payrolls in March, according to ADP's revised monthly print. Consensus economists were looking for private payrolls to rise by 383,000, according to Bloomberg data.

ADP's monthly private jobs report comes, as usual, two days before the Labor Department releases its official jobs report. While ADP's report typically does not serve as a perfect indicator of what to expect in the government-issued data due to differences in survey methodology, the print has often helped give a direction sense of job growth that took place during a given period.

Despite these discrepancies, the underlying trend amid the plethora of recent labor market data has been clear: the U.S. labor market remains extremely tight, with demand for workers far outstripping supply. In March, job openings raced to a record high of more than 11.5 million, while new hires were little changed at 6.7 million. And these vacancies have persisted even after months of payroll growth coming in well above pre-pandemic trends.

{snip}

[Demovictory9]

5. K&R