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Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million
Posted on 7/1/20 at 10:28 am
Posted on 7/1/20 at 10:28 am
quote:
Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million
LINK
U.S. private payrolls increased by 2.369 million in June, the ADP National Employment Report showed on Wednesday.
Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.
Economists polled by Econoday had forecast private payrolls increasing by 3.5 million in June.
The ADP report, which is produced with Moody’s Analytics, is published in advance of the government’s more comprehensive monthly report on the employment situation. Last month, ADP showed payrolls shrinking by millions while the government’s report said the economy added 2.5 million jobs.
Small businesses are recovering from the Pandemic. Let's keep it that way.
8
Posted on 7/1/20 at 10:30 am to goofball
quote:
May Revised Up By 5.2 Million
7.5 million jobs in 2 months.
Posted on 7/1/20 at 10:30 am to goofball
Funny this comes right as states are starting to shut everything down again.
“Goddammit, economic numbers are too good! Use Covid as an excuse!”
“Goddammit, economic numbers are too good! Use Covid as an excuse!”
Posted on 7/1/20 at 10:37 am to goofball
i thought that may adjustment was a typo......nope. They were off by 5.2 million. WOW.
Posted on 7/1/20 at 10:39 am to goofball
What does this put the unemployment rate at?
Posted on 7/1/20 at 10:44 am to notsince98
quote:
thought that may adjustment was a typo......nope. They were off by 5.2 million. WOW.
How? How were economist off by this much
Posted on 7/1/20 at 10:45 am to Oilfieldbiology
Not sure but it seems to be a common theme that every set of Trump economic indicators actually gets better when adjustments are made.
Obama, OTOH, got middling numbers that were always adjusted downward when no one was paying attention anymore.
Obama, OTOH, got middling numbers that were always adjusted downward when no one was paying attention anymore.
Posted on 7/1/20 at 10:46 am to Roberteaux
Has to be down close to 10, maybe even less right? I mean with April, May, June, and July that’s close to 10 million jobs added right?
Posted on 7/1/20 at 10:46 am to goofball
quote:So the initial report showed a DECLINE in payrolls of -2,760,000 and the revised report showed an INCREASE of +3,065,000 for a net error of almost +6,000,000?!?
Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.
Posted on 7/1/20 at 10:46 am to goofball
There's your answer on "muh second wave"- not damaging enough.
Posted on 7/1/20 at 10:46 am to teke184
quote:
Not sure but it seems to be a common theme that every set of Trump economic indicators actually gets better when adjustments are made. Obama, OTOH, got middling numbers that were always adjusted downward when no one was paying attention anymore.
Pay no attention to the man behind the curtain
Posted on 7/1/20 at 10:53 am to teke184
quote:
Not sure but it seems to be a common theme that every set of Trump economic indicators actually gets better when adjustments are made.
Obama, OTOH, got middling numbers that were always adjusted downward when no one was paying attention anymore.
Guess there actually is a magic wand- its called TRUMP.
Posted on 7/1/20 at 11:59 am to goofball
Good news
Posted on 7/1/20 at 1:58 pm to LSURussian
quote:
So the initial report showed a DECLINE in payrolls of -2,760,000 and the revised report showed an INCREASE of +3,065,000 for a net error of almost +6,000,000?!?
With the pandemic, I guess they don't really have a way to accurately do this. The impact of the pandemic on the economy was very lopsided with a heavy hit to restaurants, bars, hotels, and airlines. Other aspects of the economy were not impacted as badly and seem to be recovering very quickly.
This post was edited on 7/1/20 at 2:00 pm
Posted on 7/1/20 at 2:15 pm to goofball
Hence...the screams for shutdowns and retrenchment
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