Small Business Payrolls Collapse in New ADP Report for May, Total Employment Result Far Below Expectations – IOTW Report

Small Business Payrolls Collapse in New ADP Report for May, Total Employment Result Far Below Expectations

CTH:

You do not need anyone to affirm that Main Street is in trouble, you can see it all around you.  Inflation is crushing blue-collar and white-collar workers as prices continue to rise on essential goods. Consumer spending is now prioritized around the higher cost of housing, energy, gasoline and food.  Family earnings are spent before the paychecks arrive for most Main St workers, and now we are starting to see the alarming result economic contraction, beginning with small businesses.

That’s the message within the ADP private sector payroll report released today [DATA HERE], which shows a contraction in small business employment.  Economists were looking for private payroll increases in the 300,00 range; but the result was far lower at 128,000.   Small businesses lost 91,000 jobs in May.  Main Street is in trouble. more

10 Comments on Small Business Payrolls Collapse in New ADP Report for May, Total Employment Result Far Below Expectations

  1. I’m actually quite surprised the economy has resisted tanking for this long. Name one thing the Obiden administration hasn’t tried in an attempt to destroy it. It’s obviously intentional.

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  2. Biden is not intentionally tanking the economy. Biden couldn’t find his way to the men’s room. Biden was installed in an effort to convince people that the economy was tanked because of Biden’s incompetence rather than by intentional acts by Biden’s Handlers. (I don’t think that Obama is Biden’s handler, either. Obama is just the pretty face to help keep the real handlers annonymous.)

    In future centuries, Biden will be looked at as one of the great tragic figures of history.

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  3. Biden’s role is as an expendable. He’ll get the blame for this nightmare and when it’s time, he’s out with TPTB hoping he’s taking the baggage and with a fresh face in the wings.

    In the meantime, Biden’s got the hot potato and he doesn’t know it.

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  4. “Small Business Payrolls Collapse…”

    …not the LAST thing that’s going to collapse in this country because of Democrats, not by a long shot.

    I’ve read this book before.

    We’re just about to the killingest part of it.

    Get ready.

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  5. With everything so expensive (gas in ME now $5.10) and taxes going up (city union employees getting double digit raises) of course small businesses are collapsing.
    That’s the plan.

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  6. Maybe I’m just over-tired today, but I really feel as if there is no hope for our country. We will not survive until 2024, and we know that the election that year will be another sham one anyway. Kamalamadingdong will probably get 90 million “votes” that year.
    In the meantime, our economy continues to tank, our southern border is all but gone, and fuel prices will probably hit $10 a gallon.
    I realize now there’s no one coming to save us. No oath keepers, no Kraken, no overturned election. I honestly believe the only hope (other than the second coming) is the non-Biden/Obama military rising up and taking control. With each passing day and each newly installed general/admiral, that hope gets less and less possible.
    Sorry to be the downer today, but I’m growing very afraid.

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  7. Here’s a good one. One of the weapons the clowns used to stop the “Supply Chain” is there little war on Diesel Engines. The California mandate that outlawed the use of any truck older than three years put a lot of carriers OB. Now diesel fuel in Cali ranges any where from $6.70 to $9.00. By the way on July 1 California adds 5.5% to it’s gas tax. LOL. So now there’s a shortage of DEF. Diesel Exhaust Fluid. It’s used to make Diesel burn cleaner and if you don’t have it, your truck doesn’t run. What’s the cause of the shortage. Well Supply Chain issues naturally. Here’s a hint. It’s all made in China. Look for things to continually spiral downwards.

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  8. What is the percentage of youngens that just moved into Moms basement, because, work is hard?
    Nebraska has been promising property tax relief for awhile now. Just bumped property values 7% on my house and 11% on my commercial property.
    I know math is racist, but this doesn’t add up.

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  9. @nco77 June 3, 2022 at 12:29 pm

    > I realize now there’s no one coming to save us. No oath keepers, no Kraken, no overturned election. I honestly believe the only hope (other than the second coming) is the non-Biden/Obama military rising up and taking control. With each passing day and each newly installed general/admiral, that hope gets less and less possible.

    Those who swore their Sacred Honor(TM)? To cosmopolitan Bolsheviks? And eternal dole? Eternal enslavement of “their neighbors”?

    If you’re willing to convince them to get in the boxcars, you may still be worthy of hope. And it, is, still there. On the ramps. Leading to the boxcars.

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