Wednesday, March 2, 2011

Latest Silly Employment Numbers by ADP

The latest employment silly numbers were released today. According to ADP, private employment increased by 217,000 in February in the U.S., more than forecast.
Bloomberg: "Over the previous six reports, ADP’s initial figures were closest to the Labor Department’s first estimate of private payrolls in November, when it overstated the gain in jobs by 43,000".

However, "the estimate was least accurate a month later, when it overestimated the employment gain by 184,000".

That's right, that was a 184,000 miss. These numbers are going up and down like a yo-yo, with the media going wild dependng on the desired spin of the day.

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics