Last jobs report before election due tomorrow: Predicted to show more job losses

[Liberal_in_LA]

ADP Offered a Clear Warning for Friday's Jobs Report

by: Markos Kaminis October 07, 2010

ADP offered its estimate of private nonfarm payrolls Wednesday, but due to the proximity of the data to Friday's Labor Department truth, and given recent comfort with the service sector, I think the market overlooked a glaring warning signal.

ADP Employment Services reported its data on September's private labor market Wednesday, and the news was not good. The report covering the net change in the private labor force serves as a precursor and predictor (for some) for the Labor Department's Employment Situation Report.
http://seekingalpha.com/article/228975-adp-offered-a-clear-warning-for-friday-s-jobs-report

[Hannah Bell]

1. knr. economy of the top 1%: booming. economy of the bottom 80%: still dying.

[RKP5637]

2. Yep, and the R's will say this proves how we need those tax cuts for the

most wealthy, 'casue they're gonna hire those serfs and make lots of jobs. If only the R's ever had any remotely meaningful and intelligent ideas on how to solve anything.

[ThomWV]

3. They announced a jobs report this morning on C-span Radio at 9am

Unemployment (new files) was down and retail sales were up.

[Hannah Bell]

4. why have i heard different here at du, then?

guess i'll have to wait for the next jobs report.

[toddwv]

6. Official jobs report is scheduled to be released tomorrow (Oct 8th)

The jobs report that most people are talking about is an ADP (independent) survey which indicated a loss of 35,000 private sector jobs. It is sometimes SIGNIFICANTLY different than the BLS (Bureau of Labor Statistics) because it misses jobs created by new industries.

There is also a misleading unemployment figure being touted by righties but it is from Gallup's survey and isn't seasonally adjusted so, of course, it would show a heavy uptick until the holiday season hiring starts up. Using such a statistic in the context that I've seen it used can only be construed as deliberate disinformation.

The official jobs report will be posted here:
http://www.bls.gov/ces/

[Liberal_in_LA]

7. that's the 'filing for unemployment' release, Jobs created or lost will be reported tomorrow

[WilliamPitt]

5. Wrong.

(I hope)

http://news.yahoo.com/s/ap/20101007/ap_on_bi_go_ec_fi/us_economy_4

[Liberal_in_LA]

8. different report but good news. Friday's report gets the most coverage