I’m so old I remember it like it was yesterday.
ADP: Private Employment increased 206,000 in November
by CalculatedRisk
11/30/2011 08:19:00 AM
ADP reports:
ADP today reported that employment in the U.S. nonfarm private business sector increased by 206,000 from October to November on a seasonally adjusted basis. The estimated advance in employment from September to October was revised up to 130,000 from the initially reported 110,000. The increase in November was the largest monthly gain since last December and nearly twice the average monthly gain since May when employment decelerated sharply. Employment in the private, service-providing sector rose 178,000 in November, which is up from an increase of 130,000 in October. Employment in the private, goods-producing sector increased 28,000 in November, while manufacturing employment increased 7,000.
This was well above the consensus forecast of an increase of 130,000 private sector jobs in November. The BLS reports on Friday, and the consensus is for an increase of 112,000 payroll jobs in November, on a seasonally adjusted (SA) basis.
Government payrolls have been shrinking by about 27,000 per month this year. So this suggests around 206,000 private nonfarm payroll jobs added, minus 27,000 government workers – or around 179,000 total jobs added in November. Of course ADP hasn’t been very useful in predicting the BLS report.
Oh wait. That was yesterday.
Weekly Initial Unemployment Claims increase to 402,000
by CalculatedRisk
12/01/2011 08:30:00 AM
The DOL reports:
In the week ending November 26, the advance figure for seasonally adjusted initial claims was 402,000, an increase of 6,000 from the previous week’s revised figure of 396,000. The 4-week moving average was 395,750, an increase of 500 from the previous week’s revised average of 395,250.
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