CTH: Jumpin’ Ju-Ju Bones: ADP September Payrolls Grew by 230,000 in September.
Hold on to your MAGA caps there’s a winner wonderland ahead. According to the latest ADP private payroll release today, private sector payrolls grew by a stunning 230,000 jobs in September. [They were anticipating 185k] Massive jobs gains amid small, medium and large sized companies (report here).
This comes on the heels of the latest stats on paychecks which show *average* wage gains around 2.6% over last year. Key word “average“. There are multiple job sectors with wage increases of four to seven percent; well above the rate of consumer price inflation.
(Via CNBC) Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody’s Analytics.
Private companies added 230,000 more positions for the month, the best level since the 241,000 jobs added in February and well ahead of the 168,000 jobs added in August.
The total was well ahead of the 185,000 jobs expected by economists surveyed by Refinitiv (formerly Thomson Reuters). Construction grew by 34,000 as goods-producing industries overall contributed 46,000 to the final count. (read more)
In my ongoing opinion, it becomes very important here to dismiss most of the current financial punditry when they discuss the sustainability of economic growth and expansion of wages and capital investment. keep reading
When you make people fat, dumb and happy they tend to forget to vote. Make sure everyone votes this November, I am noways ‘tared of winning.
Did you notice during the obama years, every quarter, the actual growth in the economy never measured up to the predictions? Then the “actual numbers” later had to be “revised” or “adjusted” downward?
During the Trump years, the actual results always exceed the predictions. I wonder why that is?
I continue to wonder just what he could accomplish if he wasn’t contested at every turn. How much better would things be even now if he could get more cooperation from the people in our own party. Not to mention the distraction of this never ending farce of a Russian investigation.
Tony R, that is why conservatives began to rely on ADP reports instead of the treasonous gay Kenyan commie’s politically corrupted Dep’t. of Labor Statistics.
Hey Gunny, speaking of fat, dumb, and happy, maybe it’s time for BMI standards for welfare recipients. Sick of standing in the grocery line seeing massively obese slobs paying with EBT cards. They’re so fat no one would hire them, especially if they’re only fluent in ebonics.