ADP: 475,000 private sector jobs added in Feb. Jan revised from -301K to +509K (companies, economic)

[middle-aged mom]

Originally Posted by Floorist

Those are not new jobs. Just people going back to work with the lifting of the mandates.

New job creation is not the same thing as filling those jobs.

[DorianRo]

How many of those jobs are people returning from being furloughed though? It’s easy to manipulate baseless numbers

[Vlajos]

Originally Posted by DorianRo

How many of those jobs are people returning from being furloughed though? It’s easy to manipulate baseless numbers

So you are mad that people are getting back to work? Please describe the manipulation. Details will be helpful.

[James Bond 007]

After every recession there is a period of time when it takes a while to recover to pre-recession job levels. Why should this be any different?

[FrankNSense]

Originally Posted by Ponderosa

I get that it is hard to get these numbers with the pandemic and all, but a -300,000 to +500,000 revision? WTF? I knew that the ADP number last month was messed up, but shocked by the magnitude of their error.

And that is what should be causing people to think that there is something not quite right going on here in not only what is being "revised" but by how much.

As it is not only ADP but the other numbers from BLS the last few months they have had "corrections" magnitudes greater than in recent history.

I understand a change of a small percentage. But in this case, they are talking about a swing of 800,000.

[Variable]

Originally Posted by GoAmericaGo

Does it really matter - we are closing in on $125+ oil so it’s all coming to a screeching halt.

Oil prices don't negate the jobs numbers

[Gantz]

Originally Posted by middle-aged mom

New job creation is not the same thing as filling those jobs.

Keep in mind, we are still millions of jobs short of what we had in 2019.
No truly *new* jobs won't be created for a while yet.

[James Bond 007]

The article noted the reason for the big adjustment:

The report Wednesday noted that ADP conducted annual revisions of its count in February to put it in line with Census and Bureau of Labor Statistics data. Other months over the past year saw adjustments, but none as massive as January 2022.

Here's the ADP press release:
https://adpemploymentreport.com/2022...ss-Release.pdf
And if anyone wants to read the methodology, that's here:
https://adpemploymentreport.com/comm...ull-Detail.pdf

[tipsyguam]

you cant cheerlead this failing administration until they can match or better the preplandemic UE of 3.5% and lowest UE on record for minorities under the previous administration.

[James Bond 007]

Originally Posted by tipsyguam

you cant cheerlead this failing administration until they can match or better the preplandemic UE of 3.5% and lowest UE on record for minorities under the previous administration.

And when that happens, you and other Biden haters will undoubtedly come up with some other excuse to explain it all away.