ADP Estimates U.S. Companies Added 114,000 Employees in July

[jpak]

Source: Bloomberg

Companies in the U.S. added 114,000 workers to payrolls in July, according to figures from ADP Employer Services. The median forecast of economists surveyed by Bloomberg News called for an advance of 100,000.

The forecast was based on a survey of 39 economists. Projections ranged from 20,000 to 150,000.

Over the previous six reports, ADP’s initial figure was closest to the Labor Department’s first estimate of private payrolls in February, when it understated the gain in jobs by 5,000. The estimate was least accurate in January, when it overestimated the increase in employment by 137,000.

Last month, ADP’s figures showed a 157,000 gain in company payrolls for June, while the Labor Department’s data showed a 57,000 increase.

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Read more: http://www.bloomberg.com/news/2011-08-03/companies-in-u-s-added-more-than-estimated-114-000-jobs-in-july-adp-says.html

[xchrom]

1. Recommend

[valerief]

2. US companies added 114,000 employees in which countries? How many were NOT H1Bs? nt

They never say which countries where the jobs have been added.

[cyberpj]

7. And how many were low-paying service jobs replacing higher paying positions? Jobs dont always = jobs

And how many are 'contractor' positions --no benefits required by employers?

What's the percentage of part-time jobs --under 40 hrs., no benefits required?

Temp jobs?

How many are summer/seasonal sales positions?

As they say, the devil is always in the details which is why we never see those --AND why we're all being trained to live on sound-bytes.

[valerief]

10. Absolutely, but the first question is where? Just because they're US companies, doesn't mean they're

US jobs.

[Botany]

3. And this will get no press

When W left office we were losing 700,000 jobs a month and for the past 17 or 18 months we have been adding jobs .....
granted not enough jobs and some are not anywhere near the same as the jobs that were lost but still this is good news.

[Fuddnik]

4. Nobody pays attention to ADP because it's ALWAYS wrong.

Skewed to the optimistic side.

I've been following it monthly for about 5 years. They're a joke.

Don't believe it? Look at the Gov't numbers Friday.

[stockholmer]

5. +10000, ADP is close to 100% wrongly correlated to actual BLS reports

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1651398

Those looking for an optimistic early look of this Friday's NFP (nobody cares about the ADP any longer) should probably avoid the Challenger lay off data http://www.challengergray.com/press/PressRelease.aspx?P... just released. As Bloomberg summarizes, U.S. planned firings up 59% Y/y in July to 66,414, led by pharma, retail; largest number in 16 months. The number includes Merck’s plan to cut ~13k jobs. This 3rd consecutive increase; “seems to provide additional evidence” recovery has stalled, according to CEO John A. Challenger. New Jersey (where MRK is based) led states, with 13,330 cuts, followed by Michigan. Employers also announced plans to hire 10,706 after prior month’s 15,498: this is just barely better than the lowest number this year printed in May when just 10,248 businesses announced intention to hire, and well off the 72,581 highs in February. Bottom line: subzero NFP print coming?

[Botany]

6. Well it does seem a jump

april or may we were @ + 50,000 jobs added

may or june we were @ + 10,000 jobs added

Some of the jump might be temporary summer construction jobs.

[jpak]

9. The "bikini plot" figures are gov't numbers and that is why the haters hate them

yup

[Po_d Mainiac]

12. And then w8 for the downward revision on the BLS creative writing n/t

[jpak]

8. Thank you - beat me to it

:hi:

[DallasNE]

11. ADP Does Not Measure Government Job Losses

So you need to deduct 40,000 from that number leaving a net gain of 64,000 jobs and that number doesn't sound that out of line. We will know on Friday. That number, however, is well below the 140,000 jobs that are needed each month just to keep up with population growth.

[ElsewheresDaughter]

13. US companies added 114,000 jobs.....where overseas?

[Igel]

14. Deja vu, 5 years on.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2435265

114k thought to be added, wonderful news, things are looking up.

113k thought to be added, it's pathetic.

The 1k difference is essentially a arounding error.

I thought 113k jobs added was reasonably sucky, and that wasn't during a recovery.

I think 114k jobs added is still reasonably sucky.