ROSELAND, N.J. – December 5, 2012 – Private sector employment increased by 118,000 jobs from October to November, according to the November ADP National Employment Report®, which is produced by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. The October 2012 report, which reported job gains of 158,000, was revised down by 1,000 to 157,000 jobs.
Yeah, ok. The claim is that small business was responsible for only 19,000 of these alleged jobs, while medium and large business were responsible for 33 and 66k, respectively, with 1,000+ employee firms responsible for 62,000 of the latter.
Nearly all were in service-providing firms (all but 4,000) as well.
Manufacturing dropped 16,000 jobs, which isn't good. But allegedly trade, transport and utilities added 22,000 jobs and construction (in November?) added 23,000
And finance allegedly added 13,000.
What's even better is that ADP claims that Sandy dropped 86,000 jobs from this count, meaning that but for the storm they would have printed +204k!
You can buy this if you'd like -- I'm not.
My "best guess" for Friday is +50k, plus or minus 50.
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