re: ADP Jobs Number nearly doubles expectations; recession still imminent?

quote:

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85% of ADP's customers are small-medium businesses under 10k employees.

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60% of their customers are over 1,000 employees.


That isn't a breakdown of employees. It is breakdown of companies. 14% of their companies have over 10,000 employees.

Over 1/3 of their companies operate on $1B+ revenues per year.

Large companies announcing layoffs absolutely show up in the data.

What I've seen is that the large companies are laying off 200-800 positions (at an employer group 30,000+ employees). The layoffs are occurring. But is anywhere from 1%-3% of the staff depending upon sector.