ADP and other jobs numbers

This post is late but for completeness sake it's added.

The ADP jobs report says:

  • Total employment: -203,000
  • Small businesses: -75,000
  • Medium businesses: -75,000
  • Large businesses: -53,000
  • Goods-producing sector: -117,000
  • Service-providing sector: -86,000
  • Manufacturing industry: -65,000

ADP is private jobs only and notice how the job cuts in manufacturing contradict the ISM manufacturing report.

ADP by business

The above graph shows small businesses have taken quite the hit in comparison to larger ones in terms of losing jobs.

Here is a graph comparing the BLS vs. the ADP report.

adp vs. bls

Monster, the online haven for headhunters and scams, so take this for what it's worth, reports online listings increased slightly for October, but are still down 20% from 1 year ago.

Finally, this aptly titled post, Crumbs, by Alan Tonelson, is on Stimulus jobs and the lack of attention to manufacturing:

Number of U.S. jobs Obama administration claims were created or saved by the stimulus program: 640,000

Number of U.S. manufacturing jobs Obama administration claims were created or saved by the stimulus program: 2,500

U.S. manufacturing jobs as share of total U.S. jobs Obama administration claims were created or saved by stimulus program: 0.39 percent

Number of total U.S. jobs lost during recession: 7.21 million

Claimed stimulus-saved or -created jobs as share of total U.S. jobs lost: during recession
8.88 percent

Number of total U.S. manufacturing jobs lost during recession: 2.06 million

Claimed stimulus-saved or -created manufacturing jobs as share of total U.S. manufacturing jobs lost during recession: 0.12 percent.

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Is "unemployment" truly a lagging indicator now?

I am wondering if this is true anymore particularly if 70% of our economy consists of consumer spending and huge amounts of debt. At the very least there some level circularity going on because unemployment affects consumer confidence.

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Here is the Chart of the Day

 

I know what the chart says but there is something else.  But this all change when our economy so far out of balance?

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