A Somewhat Worse ADP Payroll Number than I Was Expecting

In the email inflow:




Private nonfarm payroll employment increased by 32,000 from March to April on a seasonally adjusted basis, according to the ADP National Employment Report™. This is in line with consensus expectations for this figure of a 28,000 increase...




Far, far below the 130K a month or so needed to keep the unemployment rate from drifting upward in the CPS...



But better than a number on the far side of zero.





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Published on May 05, 2010 07:13
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