Wednesday, October 31, 2012

ADP September 2012 Jobs Numbers Slashed

A preview of the coming Friday jobs report?

Via CNBC
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 with its October totals.

In announcing the partnership Oct. 24, the two firms said the partnership will help align the private sector job count with the Labor numbers.
Read more at this link.

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