Why to question ADP's latest job numbers | Redux

Why to question ADP's latest job numbers

Excerpt:

(MoneyWatch) A positive jobs report from ADP appears to be boosting stocks today. Here's why that's worrisome: The company, whose monthly national employment report is derived from payroll data and which provides a closely watched snapshot of private-sector job growth, is routinely wrong. No surprise, then, that the company recently revamped its formula for assessing the labor market and partnered with Moody's Analytics in hopes of improving the report's accuracy. In today's release, the first one using ADP's new methodology, the payroll company said non-farm private employers added 158,000 jobs in October. That's in line with the 162,000 jobs it said the economy generated in September. Or not. According to ADP's new formula, job growth in September was half of what the company previously reported: Private sector employment increased by 88,200 jobs from August to September, according to the September ADP National Employment Report...

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Employment Labour economics Wage slavery Bond United States Department of Labor Credit rating Private sector Credit rating agency

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Mish Shedlock

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Company: Moody

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Organization: National Employment Report

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Organization: ADP Research Institute

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Country: U.S.

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Webpage Provided Title:

Why to question ADP's latest job numbers

URL Provided Desc:

The payroll services company's monthly labor market snapshots would have more value -- if they were more accurate

URL Provided Keywords:

• adp
• bls
• Bureau of Labor Statistics
• economy
• joblessness
• jobs
• moody's
• report
• unemployment
• zerohedge

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