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mahatmakanejeeves

(57,393 posts) Wed Jun 3, 2020, 08:29 AM Jun 2020

Private-sector employment decreased by 2,760,000 from April to May, on a seasonally adjusted basis.

Source: ADP; Automatic Data Processing

Private-sector employment decreased by 2,760,000 from April to May, on a seasonally adjusted basis.

https://adpemploymentreport.com/2020/May/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-May2020-Final-Press-Release.pdf

ADP National Employment Report: Private Sector Employment Decreased by 2,760,000 Jobs in May; the May NER Utilizes Data Through May 12 and Does Not Reflect the Full Impact of COVID-19 on the Overall Employment Situation

ROSELAND, N.J. - June 3, 2020 - Private sector employment decreased by 2,760,000 jobs from April to May according to the May ADP National Employment Report.

The report utilizes data through the 12th of the month. The NER uses the same time period the Bureau of Labor and Statistics uses for their survey. As such, the May NER does not reflect the full impact of COVID-19 on the overall employment situation.

Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute in collaboration with Moody's Analytics. The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.

Read more: https://adpemploymentreport.com/2020/May/NER/NER-May-2020.aspx

This is much better than estimated. I had heard an estimate of 9 million on the radio earlier this morning.

Total Employment
Change in Nonfarm Private Employment

Historical Trend
Change in Total Nonfarm Private Employment

Change By Company Size
Change in Total Nonfarm Private Employment by Company Size

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Private-sector employment decreased by 2,760,000 from April to May, on a seasonally adjusted basis. (Original Post) mahatmakanejeeves Jun 2020 OP

I guess... Newest Reality Jun 2020 #1

20% unemployment numbers relased soon and the stock market soars........ Bengus81 Jun 2020 #2

The ADP numbers cover only about 20% of the nation's private workforce progree Jun 2020 #3

data doen;t jive with new claims for unemployment in same period beachbumbob Jun 2020 #4

Consensus economists expected private sector job losses to total 9 million for May, according to progree Jun 2020 #5

Links to earlier reports: mahatmakanejeeves Jun 2020 #6

Newest Reality

(12,712 posts)

1. I guess...

Reply to mahatmakanejeeves (Original post)

Wed Jun 3, 2020, 08:35 AM

Jun 2020

I guess the stock market is very concerned.

The divorce changed them. They don't care about us anymore and recieved all of the settlement. We are on our own.

Bengus81

(6,931 posts)

2. 20% unemployment numbers relased soon and the stock market soars........

Reply to mahatmakanejeeves (Original post)

Wed Jun 3, 2020, 08:38 AM

Jun 2020

Futures are up another 200+ points this morning on top of the DOW going up another 267 points yesterday. I thought Trump, his Magots and Republicans were the only ones that were 100% out of touch with reality.

progree

(10,901 posts)

3. The ADP numbers cover only about 20% of the nation's private workforce

Reply to mahatmakanejeeves (Original post)

Wed Jun 3, 2020, 08:59 AM

Jun 2020

The ADP numbers cover only about 20% of the nation's private workforce.
https://www.federalreserve.gov/newsevents/speech/powell20191008a.htm

(One constantly reads on DU that the ADP is better than the BLS's jobs survey because the ADP uses actual payroll data whereas the BLS's non-farm payroll survey is "just a survey". But ADP does not process all private employment payrolls, just 20%. And then somehow they extrapolate the other 80%. ).

Typically (and this was also true even when Obama was president), in months when the ADP report was significantly worse (i.e. lower job gains or greater job losses) than the BLS numbers, then there are posts about how ADP numbers are more reliable because they are "real payroll data". Whereas when the BLS numbers are worse, it's crickets -- the ADP survey goes unmentioned. And so it goes.

The monthly BLS jobs report comes out Friday, June 5, 2 days from now. (For the rest of the year, the BLS report comes out on the first Friday of the month).

beachbumbob

(9,263 posts)

4. data doen;t jive with new claims for unemployment in same period

Reply to mahatmakanejeeves (Original post)

Wed Jun 3, 2020, 09:18 AM

Jun 2020

progree

(10,901 posts)

5. Consensus economists expected private sector job losses to total 9 million for May, according to

Reply to mahatmakanejeeves (Original post)

Wed Jun 3, 2020, 10:32 AM

Jun 2020

Bloomberg data. ((A big miss from the ADP report's 2.76 M -Progree))

In April, private-sector job losses were at a record high of 19.557 million, following revisions from the 20.236 million cuts previously reported, ADP said.

“The impact of the COVID-19 crisis continues to weigh on businesses of all sizes,” Ahu Yildirmaz, co-head of the ADP Research Institute, said in a statement. “While the labor market is still reeling from the effects of the pandemic, job loss likely peaked in April, as many states have begun a phased reopening of businesses.”''

https://finance.yahoo.com/news/adp-jobs-report-may-coronavirus-pandemic-121650795.html

mahatmakanejeeves

(57,393 posts)

6. Links to earlier reports:

Reply to mahatmakanejeeves (Original post)

Fri Jun 5, 2020, 08:35 AM

Jun 2020

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