U.S. gains 271,000 jobs in October; unemployment 5%

U.S. gains 271,000 jobs in October; unemployment 5% - MarketWatch

Looks like the GBCRR is finally ending.

http://www.cnbc.com/2015/11/04/private-companies-add-182000-jobs-in-october-vs-180000-est-adp.html



I don't understand the discrepancy.

WCH said:

http://www.cnbc.com/2015/11/04/private-companies-add-182000-jobs-in-october-vs-180000-est-adp.html

I don't understand the discrepancy.

Click to expand...

This report was based upon ADP, a private payroll processing company.

There is always a discrepancy month to month between the government figures and ADP, however over time they correlate fairly closely. the last three months ADP's reports have averaged 184k/mth, the governments report has averaged 184k during that same time period. I trust the governments figures more, because they get adjusted twice as addititional information becomes available, while the ADP estimates never get adjusted and are based only upon their customers hiring rates.

imagep said:

This report was based upon ADP, a private payroll processing company.

There is always a discrepancy month to month between the government figures and ADP, however over time they correlate fairly closely. the last three months ADP's reports have averaged 184k/mth, the governments report has averaged 184k during that same time period. I trust the governments figures more, because they get adjusted twice as addititional information becomes available, while the ADP estimates never get adjusted and are based only upon their customers hiring rates.

Click to expand...

No way. Obviously Obama is fudging the numbers. We can only trust the negative reports from govt.

As usual, one should never judge the book by it's cover...or this BLS report by it's headline.

Now, the rise in average pay is definitely good news.

But...

...looking at the household survey (seasonally adjusted):

- there is an October gain of 320,000 more people employed BUT that is only 84,000 more then two months ago because September had a 236,000 REDUCTION.
Plus, since June, there have only been 381,000 more people employed. That equals less then 77,000 added employed persons per month over the last 5 months.
Hardly stellar.

- but let's look at this month only.
Of the 320,000 more employed persons...378,000 are over 55. So those under 55 saw a net loss of 58,000 employed persons in October.

And the most important age range, 25-54, saw a decrease of 35,000 with a small reduction in all three 'sub-ranges' (25-34, 35-44 and 45-54). With males showing a 119,000 reduction.

Table A-9. Selected employment indicators


Once again, the VAST majority of the employment gains are for those over 55.

ALWAYS look past the headlines when it comes to government data.

So, according to the household survey (seasonally adjusted):

- if you are over 55...it's a great report with 378,000 more of you employed.

- if you are under 55...it's not so great with 58,000 LESS of you employed.

The Walmart/Mercedes recovery marches onwards.

99percenter said:

No way. Obviously Obama is fudging the numbers. We can only trust the negative reports from govt.

Click to expand...

You folks are pathetic.............if it does not fit what you want it to be someone is in a conspiracy screwing the numbers just to make Obama look good............PLEASE.......get a life