ADP: ShortFormBlog

14:25 • 6 months ago

ADP predictions surpass analysts expectations for October jobs report

88,000 new jobs are expected to have been added during October according to analysts ahead of the release of the Labor Department’s October jobs report. If accurate, it would mean the economy created almost 30,000 fewer new jobs than the 114,000 added during September.
158,000 jobs were added to the U.S. economy during October according to payroll processor ADP — in a report typically used by analysts to revise their own expectations ahead of the official jobs report. The firm is using a new forecasting model this month, thanks to a recent overhaul from Moody’s, which many expect to deliver far more accurate results than the faulty ones ADP has become known for in recent months. The official Labor Department October jobs report is currently scheduled to be released tomorrow. source

11:05 • 2 years ago

Like contradictory jobs data? Here’s some good, then some bad

Tags: ADP Challenger Gray Christmas economy employment job growth jobs private sector unemployment 1 • Permalink

93k the growth in private-sector employment last month (nice!)
03/07 the last time job growth was that high in a single month (pre-recession)
ten consecutive months of private-sector job growth source

» Not all rosy: The above tally, by payroll processor ADP, is definitely positive, but separate data by outplacement firm Challenger, Gray & Christmas says that employers were looking to cut jobs, too – at a rate of 48,711 last month, the highest level in six months. Gotta love contradictory data, but the firms tend to focus on different part of the employment life process.

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