Need To Know News

The ADP report, always issued 2 days before Non-Farm Payrolls, is expected to show the first sharp downturn in since June 2008 with a 100k job loss. The last time ADP showed job losses over 100k was in November 2002 when they recorded -157k. Non Farm Payrolls, on the other hand, has showed a snowballing effect since June when 100k jobs were lost. July bounced back to only 67k lost, but August jumped to 73k and September more than doubled at -159k.

Overall employment fell 8k in September to 116k, after falling 37k in August

• Manufacturing Jobs fell 48k from down 56k prior
• Goods Producing Jobs fell 72k from down 81k prior
• Service Sector Jobs rose 64k from up 44k prior
• Large size firm Employment fell 6k from down 24k prior
• Medium size firm employment fell 30k from down 30k prior

September was much better than the -50k expected. August’s figure was revised slightly lower, to -37k from -33k previous.

More from the August ADP Employment Report:

Total Employment fell 33k in August
Total Employment in July revised to 1k from 9k prior

Manufacturing Employment fell 56k, its 24th consecutive monthly decline
Goods Producing Employment fell 78k, its 21st consecutive monthly decline
Service Sector Employment increased 45k
Large Business Employment fell 28k
Medium Business Employment fell 25k
Small Business Employment increased 20k

The ADP Employment report notes that Service Providing Jobs were up 74k, Goods Producing Jobs fell 65k and Manufacturing Jobs fell 49k.

Manufacturing Jobs now enter their 23rd straight month of declines and Goods Producing Jobs have just posted their 20th straight month of declines.

Large business employment is off 32k, Medium sized businesses were down 9k but small business employment was up 50k.

ADP reckons 350,000 Construction Jobs have been lost since August of 2006. This figure does not of course include those “off the books” construction jobs - by some estimates those job losses may be greater and be feeding into job expansion in the service sector.

The ADP Employment report notes that Service Providing Jobs were up 74k, Goods Producing Jobs fell 65k and Manufacturing Jobs fell 49k.

Manufacturing Jobs now enter their 23rd straight month of declines and Goods Producing Jobs have just posted their 20th straight month of declines.

Large business employment is off 32k, Medium sized businesses were down 9k but small business employment was up 50k.

ADP reckons 350,000 Construction Jobs have been lost since August of 2006. This figure does not of course include those “off the books” construction jobs - by some estimates those job losses may be greater and be feeding into job expansion in the service sector.

The July ADP data is expected to show jobs losses on the order of 60k versus a loss of 79k in June.  For the 2nd quarter, ADP shows total job losses of 39k.