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Thursday, February 03, 2022

Here It Comes, ADP Reporting a Massive Loss in January Jobs of 301,000

The business and financial wires are melting down today as ADP Payrolls, the nation’s largest private sector payroll providing service, releases data from January showing a drop of 301,000 jobs. [ADP Raw Data Here] 

The financial, economic and business pundits are completely caught off guard and using the words “shocked”, “unexpected” and “surprised,” within their analysis. These employment numbers just don’t align with an economy growing at 6.9%, as measured by the Bureau of Economic Analysis (BEA). However, for CTH readers who have carefully scrutinized the economic claims and looked at the bigger picture through the prism of kitchen table checkbook economics, these results are not a surprise.
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8 comments:

  1. AnonymousFebruary 3, 2022 at 11:23 AM

    Everybody going Galt for the duration?
    Heheheheh

    ReplyDelete
    Replies
    1. AnonymousFebruary 3, 2022 at 12:13 PM

      I'm doing all I can to avoid feeding the machine. Have been for a long while. I hardly ever eat out now for one.

      But many are hoping the truckers will solve things for them while they party on instead of depriving themselves of the circuses. If the people would simply boycott everything for a week and slow the movement of $'s through the system they might have some effect. But most cannot even see how a few cars might have the same effect as a trucker.

      Delete
  2. PeaowedFebruary 3, 2022 at 12:26 PM

    The economy might have grown 6.9% in the last quarter, but the Dow, NASDAQ and S&P have sucked ass the past 40 days or so. Anyone with an IRA or 401K invested in stocks has taken a shellacking. The jobs numbers should be no surprise to anyone.

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  3. AnonymousFebruary 3, 2022 at 12:28 PM

    Unexpected - that word keeps appearing during every Dem administration.
    Do these people think it's a new day every time they blink?

    ReplyDelete
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    1. ElmoFebruary 3, 2022 at 1:50 PM

      'Unexpected' is to be expected with economists of any party, especially the Uniparty.

      Old economist joke-
      Three economists go deer hunting. When a beautiful trophy buck suddenly appears the first economist raises his rifle and fires, only to have the shot go two feet low. When the second economist fires, his shot sails two feet high.
      Then the third economist jumps for joy and hollers "WE GOT HIM!"

      So it goes with the 'Expert' class.

      Delete
  4. Bill ChunkoFebruary 3, 2022 at 12:51 PM

    Anybody with half a brain knew that 6.9% growth attributed by "the Bureau of Economic Analysis (BEA)" was a blatant lie. I was shocked when I first read it. I couldn't believe that would be that bold.

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  5. Bear Claw Chris LappFebruary 3, 2022 at 2:23 PM

    Ole peppermint paddy psaki said it would happen but it was due to omicron, bwahhahahahahhah

    ReplyDelete
  6. WestcoastDeplorableFebruary 3, 2022 at 8:13 PM

    Somebody's lying.

    ReplyDelete

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