ePAROL - Economic News and Views

Strike Three

FOR THE THIRD month in a row, there was a huge miss in job gains versus expectations.

"The ADP National Employment Report was developed to help meet the need for additional timely and accurate estimates of short-term movements in the national labor market among economists, financial professionals, and government policymakers."

In April, ADP predicted 175,000 new jobs.
In April, the actual number was 131,000.
A miss of 25%.

In May, ADP predicted 122,000 new jobs.
In May, the actual number was 74,000 jobs.
A miss of 39%.

In June, ADP predicted 368,000 new jobs.
In June, the actual number was 121,000 jobs.
A miss of 67%.

"For the third month in a row, the nation's employers hired fewer workers than analysts expected, providing another month of evidence that the American job machine has downshifted.

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posted by G @ 10:38 AM