Suitably Flip

Increasingly Unreliable Private Employment Report Worse Than Expected By Those Who Still Lend It Credibility

I still take note when ADP releases its payroll report, but given its modest month-to-month predictive powers vis a vis the Labor Department's employment figures, it's become little more than a numerical diversion.

So, let's get to it.

The market expected to see a reduction of 630,000 jobs in February (versus a revised loss of 614,000 in January), but ADP pegs it at a considerably worse 697,000.  That makes the 13th consecutive month of job losses and the worst decline of the decade.

Despite the sour number, the market's in positive territory (I know, get the kids, they'll want to remember this), but after 5 days of murderous selling, who can blame it?

It oughtn't be long before we're served another spoonful of recovery sugar (like this, perhaps) to help the market go down.

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Increasingly Unreliable Private Employment Report Worse Than Expected By Those Who Still Lend It Credibility

I still take note when ADP releases its payroll report, but given its modest month-to-month predictive powers vis a vis the Labor Department's employment figures, it's become little more than a numerical diversion.

So, let's get to it.

The market expected to see a reduction of 630,000 jobs in February (versus a revised loss of 614,000 in January), but ADP pegs it at a considerably worse 697,000.  That makes the 13th consecutive month of job losses and the worst decline of the decade.

Despite the sour number, the market's in positive territory (I know, get the kids, they'll want to remember this), but after 5 days of murderous selling, who can blame it?

It oughtn't be long before we're served another spoonful of recovery sugar (like this, perhaps) to help the market go down.