ADP Employment Bounces, Still Weaker Than All Of 2014, 3rd Monthly Decline In Manufacturing Jobs

Posted: June 3, 2015 in Economics

Having fallen for 5 straight months (and missed expectations for the last 4), much to the ‘recovery meme’ chagrin of Mark Zandi and his fellow extrapolators, May’s 201k print (against expectations of 200k) was a modest bounce that will be seen as heralding the post-weather recovery. At 201k, ADP job change remains below every month of 2014 aside from January. Led by small business – which gained 122k of the 201k jobs, we note that large firms 500-999 employees actually saw jobs being shed. Furthermore, Service-providing jobs dominated with 192 of 201k jobs coming from that segment of the economy and just 9k growth in goods producing with manufacturing dropping 5k. Zandi’s helpful remarks provide the narrative, “I think the economy is doing much better than the data shows and when it is all revised will show strong growth.” Brilliant.

A modest bouince but the 3rd monthly decline in manufacturiong jobs…

Full Story @ [Zero Hedge]

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s