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ADP Says 216,000 Jobs Added In February

From the ever rosy glassed Reuters:

Labor market shows more signs of life

By Leah Schnurr
March 7, 2012

NEW YORK (Reuters) – The pace of job creation by private employers accelerated in February, reinforcing hopes that Friday’s broader payrolls report would confirm the labor market recovery has moved into a higher gear.

The private sector added 216,000 jobs last month, the ADP National Employment Report showed on Wednesday, topping economists’ expectations for a gain of 208,000.

And, for the record, even the ADP’s numbers are ‘seasonally adjusted.’

January’s payrolls figures were revised up to an increase of 173,000 from 170,000

To put this in some perspective, according to the White House, the "private sector payrolls increased by 257,000 jobs" in January. So the original ADP report for January was off by almost 100,000 jobs. And it is still far lower than what the White House is claiming.

The ADP figures come ahead of the government’s more comprehensive labor market report on Friday, which includes both public and private sector employment…

Economists polled by Reuters are expecting Friday’s report to show a gain of 210,000 in overall nonfarm payrolls, with the addition of 225,000 jobs in the private sector.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome

Given that their numbers were off by almost 100,000 last month, why should we care what the ADP predicts?

This article was posted by Steve on Wednesday, March 7th, 2012. Comments are currently closed.

One Response to “ADP Says 216,000 Jobs Added In February”

  1. GetBackJack says:

    Yes, 216,000 jobs were created by Obama’s policies –

    In Brazil, China, India and six jobs in Washington handing out $11 million in federal grants for buying “Looking For Work” people upgraded executive wear in order to look suitable for employment.

    Total people so clothed –

    Two

    Yes, two.


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