ADP estimates US economy added 187,000 private sector jobs in January.

[Statistical]

Companies in the U.S. added more workers than forecast to payrolls in January, showing a pickup in the labor market, data from a private report showed today.

Employment increased by 187,000 last month after a revised 247,000 gain in December that was less than initially estimated, according to figures from ADP Employer Services. The median estimate in the Bloomberg News survey called for a 140,000 gain last month.

...

“I see a clear pattern of strengthening, acceleration here that is very encouraging,” Joel Prakken, chairman of Macroeconomic Advisers LLC, which produces the figures with ADP, said on a conference call. “The economy is starting to accelerate.”

...
Job cuts announced by U.S. employers dropped in January by 46 percent to 38,519, according to Challenger, Gray & Christmas. The Chicago-based placement firm said it marked the fewest job cuts for any January since record-keeping began in 1993.

...

Today’s ADP report showed an increase of 21,000 workers in goods-producing industries, which includes manufacturers and construction companies. Service providers added 166,000 workers. Employment at factories increased 19,000 jobs, ADP said. Companies employing more than 499 workers expanded their workforces by 11,000 jobs. Medium-sized businesses, with 50 to 499 employees, created 79,000 jobs and small companies increased payrolls by 97,000, ADP said.

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http://www.bloomberg.com/news/2011-02-02/u-s-companies-added-more-than-estimated-187-000-jobs-in-january-adp-says.html

[FBaggins]

1. Well... I guess we'll see if they can get it right this month.

not that I'm holding my breath.

[Statistical]

2. Yeah ADP track record has gotten pretty bad in last 6 months or so.

Also the BLS tends to revise numbers rather significantly after the fact which can make misses seem larger.

[FBaggins]

3. Just six months?

I've been watching them since the series started and I've never been too impressed. If they were at least consistently wrong in the same direction... that would be something. We could guess at what bias might be impacting the series (or in theory, the BLS)... but I'm convinced that these guys are flipping coins for their data.

Which is not to say that this isn't a good number if it's even close.

[bluestateguy]

4. When was the last time they were accuate?

Their numbers are so out of whack each month. Some months they underestimate, others they overestimate.

[FBaggins]

7. Every twelve hours...

... like clockwork. :)

[fasttense]

5. See trickle down does work.

The corporate aristocracy is getting richer and they are trickling down on the middle class and poor. Now we have 187,000 more jobs of some kind, somewhere, doled out sometime during the month.

The stimulus has come and gone and the only economic change was the continued transfer of our national wealth to the uber rich through a huge gob of tax giveaways to multimillionaires. So, trickle down does work.

The only problem is that what gets trickled is nothing compared to what is kept by our corporate aristocracy. You get a minimum wage job with no benefits working about 34 hours a week and they get billion dollar bonuses. See how it all works out.

Now, the unemployed need only hang in there and the uber rich will piss out some more minimum wage crappy jobs for you too.

[Statistical]

6. Average median wage as reported by BLS is $752 per week.

The idea that nothing but minimum wage jobs have been created is bogus.

20,000 of the jobs are factory jobs. Are they all minimum wage jobs also?

[jtown1123]

8. Great, still not nearly enough to make even the slightest dent.

[Johonny]

9. the positive is we have job growth

and jobs are the lagging indicator in economics. So it totally makes sense. It also makes you think the second dip in the economy just isn't coming. The negative news is the growth is not nearly enough to get the economy back to normal employment levels. I don't think the current budget and tax rates are encouraging signs for seeing that kind of growth anytime soon. It's sort of back to the same economy that left us so exposed to a crash before. I really don't expect a change until American workers vote for candidates that advocate policies the are pro-worker. Instead of the faux pro-worker rhetoric they so often these days fall for. :(

[FBaggins]

10. Aaaaannnnd? They overshot again.

50k instead.