Submitted by Tyler Durden on 02/01/2012 08:27 -0500
Consumer Sentiment
Gross Domestic Product
Market Conditions
recovery
Unemployment
Unemployment Claims
The highly irrelevant economic noise that is the ADP private payrolls indicator has come in form the month of January, and printed at nearly half of the December number of 325K, which was revised lower to 292K, at 170K, on expectations of 182K. We should be the last to tell readers that anything this unbearably noisy series says is beyond meaningless, but since someone follows it, it bears noting that this was the weakest number since October 2011. Furthermore, with the NFP virtually guaranteed to be a miss for a variety of reasons, this is merely the latest confirmation that economist expectations of the economic recovery ramping up, were short sighted - after all the Chairman has an agenda. Yet what makes this report a total mockery is that in the month in which banks, and the FIRE industry in general, was firing left and right, ADP saw 9K people in financial services added to private payrolls. Ironically the financial jobs "added" were almost as many as the manufacturing jobs, at +10K in January. Who says America is not a manufacturing juggernaut and only exports weapons of financial mass destruction?
Breakdown:
http://www.zerohedge.com/news/irrelevant-adp-report-gyrates-epileptically-misses-expectations-sees-9000-financial-jobs-added-?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
youngman
youngman's picture
Isn´t it kind of funny today....there is nothing about Greece......its all Facebook, elections, Amazon....whatever....so I guess all is good on the Western front...lol
Alex Kintner
Alex Kintner's picture
9,000 Foreclosure Agents. 2012 will be the Year of the Eviction. Bullish for living spaces under bridges and cardboard box makers.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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