ADP reports 201,000 new jobs added in August

Posted on Thursday, September 06, 2012 at 10:02 AM

Larger Text

E-mail

19 Comments

RSS

Archives

Even their critics admit it, the Democrats have been having a flawless national convention. No one has been berating an empty chair, instead their steely focus and resolve have been remarkable.

Featuring a formidable and deeply personal speech by Michelle Obama that was described as 'masterful' by Fox News, and a brilliantly detailed endorsement of the presidents policies by Bill Clinton last night, the GOP must be disheartened to see the obvious public enthusiasm and media coverage the DNC is generating.

In particular Paul Ryan came in for a mauling from the big dog last night: 'So - so President Obama and the Democrats didn’t weaken Medicare; they strengthened Medicare. Now, when Congressman Ryan looked into that TV camera and attacked President Obama’s Medicare savings as, quote, the biggest, coldest power play, I didn’t know whether to laugh or cry - because that $716 billion is exactly, to the dollar, the same amount of Medicare savings that he has in his own budget. You got to get one thing — it takes some brass to attack a guy for doing what you did.'

That moment prompted laughter and a huge round of applause.

But perhaps most worrying of all for Mitt Romney's chances is this morning's breaking news that ADP employer services have announced the US has added 201,000 new jobs in August. That's a much stronger figure than the 140,000 consensus and it's up from the 173,000 added in July.

As though anticipating those inspiring numbers last night Clinton concluded: 'Listen to me, now. No president - no president, not me, not any of my predecessors, no one could have fully repaired all the damage that he found in just four years. Now - but - he has - he has laid the foundation for a new, modern, successful economy of shared prosperity. And if you will renew the president’s contract, you will feel it. You will feel it.'

Right on cue the best employment statistics of the year to date are released.

As Clinton said himself last night: 'Now, people ask me all the time how we got four surplus budgets in a row. What new ideas did we bring to Washington? I always give a one-word answer: Arithmetic.'

Obama's numbers are adding up to a re-election.

E-mail

19 comments

Previous Page 2 of 2 pages

EphraimKibbey | Sep 06, 2012, 02:50 PM EDT

BREAKING NEWS - More Relevant Data - If Republican State Governments had not balanced their budgets on the backs of students, teachers, parents, firemen, policemen and city and state workers by slashing the money for cities and school districts the unemployment figure would be below 7%. That's right where Obama said it would be. MORE BREAKING NEWS - Romney promises that, if elected, he will bring the unemployment figure down to exactly the SAME figure all economists say it will be if we keep following our current slow climb out of the recession. Can you say WOW?

Report abuse

ancavker | Sep 06, 2012, 01:29 PM EDT

hollabuck: Did you not read my post? This was the ADP report, which is not the BLS report released the first Friday of every month.It is notoriously volatile, and has historically been subject to huge revisions. The expected over all jobs number for July is expceted to be 125k. That number will be released tomorrow morning at 8:30 A.M. But hey what do I know, as I am involved with this data every day, as it is part of my job. Now go back and read my original post, and this one, and perhaps it will sink in. Mr O'Dohert commented on an economic report, without including all of the relevant information.

Report abuse

hollabackgurl | Sep 06, 2012, 11:14 AM EDT

Hi ancavker, you do realize that these easily corroborated figures are already all over the net? Private-sector employers added 201,000 jobs last month - the biggest gain in five months.

Report abuse

ancavker | Sep 06, 2012, 11:03 AM EDT

Cahir: If you are going to report on economic news, than be thorough. First off the ADP numbers are extremely volatile, and although July's number was revised up, historoically the ADP numbers are always revised down going forward. Also keep in mind that ADP if they land a new client to handle their payroll etc. they count those employees as new hires, And finally the non farms payroll which will be released tomorrow and is released the first Friday of every month is a far more important (for the markets) and accurate number than the ADP number. The ADP number is simply a snap shot. Even if we get a repeat of 160k jobs from tomorrows number, it is still a long way off from where we need to be to get he economy moving again.

Report abuse

Previous Page 2 of 2 pages