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New ADP Count Slashes
Job Creation for September

CNBC, by Jeff Cox

Original Article

Posted By:Bubbasuncle, 10/31/2012 1:06:14 PM

Revisions to the way payroll data firm ADP counts private sector job creation have resulted in a sharp drop in the September employment count. ADP's new calculations put the monthly job creation at just 88,2000, down from the 162,000 the firm originally reported earlier this month. The firm recently has entered into a partnership with Moody's Analytics that will change the way the private payroll count is calculated. ADP will announce its October count on Thursday, with the Labor Department to follow on Friday. ADP is expected to announce a further revision to the September count along

      


Post Reply  

Reply 1 - Posted by: BaseballFan, 10/31/2012 1:11:12 PM     (No. 8977079)

"ADP occasionally has come under criticism for releasing data that is often widely disparate with the government's final count."

Yeah? But criticized by whom? The BLS? Ha!

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Reply 2 - Posted by: horacer, 10/31/2012 1:19:55 PM     (No. 8977100)

ADP is always all over the place. The downward revision for last month was probably correct. Forecasters are beginning to change their outlook for Fridays number. Bad news out of the Chicago Fed is causing downward revisions. Is it racist to say it could be Black Friday for Obama.

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Reply 3 - Posted by: St. Pitbull, 10/31/2012 2:42:34 PM     (No. 8977251)

I worked in a position where they used to fill out the BLS report. When I came in, I was too busy and found out it wasn't mandatory and quit doing it. I was hounded constantly by the BLS to submit it - they even told me it was mandatory until I told them that I knew it was not. This is a statistic that is only as good as the info coming in. It's not verified and is ripe for manipulation.

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Reply 4 - Posted by: halfnorsk, 10/31/2012 2:50:18 PM     (No. 8977268)

Hey, Wonderbama. The truth is a bee-itch, ain't it?

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Reply 5 - Posted by: Photoonist, 10/31/2012 2:56:57 PM     (No. 8977288)

You mean they're getting closer to reporting the truth?

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