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1
Posted on 7/2/25 at 9:48 am to slackster
quote:
Private sector hiring unexpectedly contracted in June, payrolls processing firm ADP said Wednesday, in a possible sign that the economy may not be as sturdy that investors believed as they bid the S&P 500 back up to record territory to end the month.
Private payrolls lost 33,000 jobs in the June, the ADP report showed. Economists polled by Dow Jones forecast an increase of 100,000 for the month. The May job growth figure was revised even lower to just 29,000 jobs added from 37,000.
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” Nela Richardson, ADP’s chief economist, said in a press release published Wednesday morning.
To be sure, the ADP report has a spotty track record on predicting the subsequent government jobs report, which investors tend to weigh more heavily. May’s soft ADP data ended up differing significantly from the monthly jobs report figures that came later in the week.
I wonder......hmmmm?
From Google AI....,
quote:
While precise figures are difficult to pinpoint, multiple sources suggest that AI, automation, and robotics have already replaced a significant number of jobs since 2023, with some estimates predicting millions of potential job losses. One study estimates that up to 300 million full-time jobs could be exposed to automation due to AI, according to Goldman Sachs. A separate report indicates that 76,440 jobs have already been cut due to automation this year (2025), particularly in software engineering, HR, customer service, content writing, and finance. A survey of business leaders found that 37% of companies using AI reported replacing workers because they were no longer needed,
Posted on 7/2/25 at 9:56 am to Bass Tiger
Shitty weather for the past 2 months on the east coast had more to due with layoffs than AI
Posted on 7/2/25 at 10:06 am to 4cubbies
quote:
Naively, I thought it would be harder to commit identity theft.
You're not naive. That predisposes some level of innocence. Your ignorant. And purposely obtuse. You absolutely refuse to understand or accept anything that hurts your feelings. That is why you are disliked and ridiculed here.
Posted on 7/2/25 at 10:10 am to Man4others
quote:
Shitty weather for the past 2 months on the east coast had more to due with layoffs than AI
There are many contributing factors for lower employment numbers but to dismiss AI, automation and robotics as an insignificant non factor?
Posted on 7/2/25 at 10:25 am to slackster
33,000? Seems like an insignificant figure
Posted on 7/2/25 at 10:26 am to slidingstop
quote:
You absolutely refuse to understand or accept anything that hurts your feelings.
You posted this in response to me essentially saying that my assumption was wrong after I was presented with evidence that contradicted my assumption. Your post doesn’t track at all with what you just witnessed above.
Posted on 7/2/25 at 10:33 am to slackster
Time to cut rates
Posted on 7/2/25 at 10:34 am to Pecos Pedro
quote:
See you in 4 weeks for the monthly melt.
LOL
The only people melting are the SDV types who think we should lower rates and cause inflation to shoot back up.
Posted on 7/2/25 at 10:35 am to notiger1997
Jobs numbers are only going to go down as AI ramps up - no one is ready for what’s about to happen
Posted on 7/2/25 at 10:36 am to concrete_tiger
quote:
33,000? Seems like an insignificant figure
Well, a growing economy would have added 300,000. So a miss of 333,000 is a little bigger of a number.
Posted on 7/2/25 at 10:39 am to 4cubbies
quote:
Illegals pay payroll taxes?
With fake socials…probably.
They can also vote.
Posted on 7/2/25 at 11:17 am to 4cubbies
quote:
4cubbies
I really have no idea why you keep pushing ahead with your attempts to make yourself look like a complete idiot.
You should focus on raising your children and not being the butt of jokes here.
Posted on 7/2/25 at 4:19 pm to the808bass
quote:
Well, a growing economy would have added 300,000.
You sure about that? We just rolled out AI tools across the board. Efficiency doesn’t mean more heads.
We are on pace for best year, ever, and aren’t hiring new people, just filling open roles.
All too often, these indicators are horse shite. Will see, I guess.
Posted on 7/2/25 at 5:05 pm to concrete_tiger
quote:
You sure about that?
Yes.
Posted on 7/2/25 at 5:17 pm to sumtimeitbeslikedat
quote:
Two letters: AI
Two more words: probably not
This post was edited on 7/2/25 at 5:18 pm
Posted on 7/2/25 at 5:20 pm to Diego Ricardo
Yeah. It’s not AI now.
Posted on 7/2/25 at 5:30 pm to the808bass
I’m on “AI is going to eliminate some jobs, create others, and augment many existing jobs” bandwagon. Not an AI doomer or AI cheerleader. We’ve seen this before…just adapt with the times.
Posted on 7/2/25 at 5:35 pm to SDVTiger
I guess you need a favorable rate so that you can finally get that 35hp outboard fixed.
Posted on 7/2/25 at 8:56 pm to Bass Tiger
We're at the end of the part where AI is creating jobs on pace with displacing them
The first half of this year saw ~80,000 jobs lost to AI with 80,000-125,000 created (with ~60% being W2 permanent full time and the rest being 1099 contract workers)
AI finna eat though and White Collar jobs are on the menu
The first half of this year saw ~80,000 jobs lost to AI with 80,000-125,000 created (with ~60% being W2 permanent full time and the rest being 1099 contract workers)
AI finna eat though and White Collar jobs are on the menu
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