Slowdown! ADP Reports an Increase of 107,000 Private Payrolls As Powell Proclaims “No Sugar Tonight” (Why Do We Need Millions Of Illegal Immigrants?)

#bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Bank of Japan, Banking, Bernanke, C&I, CDS, China, CMBS, CRE, Credit, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Gold, GSE, Healthcare, Housing, Inflation, Jobs, LIBOR, Mortgage, New Home Sales, Oil, Pension, Powell, REITs, Silver, Stocks, Treasuries, Treasury, Uncategorized, Volatility, Wages, Yellen, Yield Curve 2 Minutes

Slowdown! Bidenomics, based on historic binge spending and Fed sugar, is wearing out as the enormous sugar (stimulus) rush is over.

The hiring slowdown of 2023 spilled into January, and pressure on wages continues to ease. The pay premium for job-switchers shrank to a new low last month.

Another Soft Landing Proclamation

“Progress on inflation has brightened the economic picture despite a slowdown in hiring and pay. Wages adjusted for inflation have improved over the past six months, and the economy looks like it’s headed toward a soft landing in the U.S. and globally,” says Nela Richardson, Chief Economist, ADP.

ADP National Employment Report

The ADP National Employment Report shows Private Sector Employment Increased by
107,000 Jobs in January; Annual Pay was Up 5.2%

Job Switching Payouts

  • Year-over-year pay gains for job-stayers reached 5.2 percent in January, down from 5.4 percent in December.
  • For job-changers, pay was up 7.2 percent, the smallest annual gain since May 2021.
  • Median Change in Annual Pay (ADP matched person sample) Job-Stayers 5.2%, Job-Changers 7.2%

ADP Notice

January’s report presents the scheduled annual revision of the ADP National Employment Report, which updates the data series to be consistent with the annual Quarterly Census of Employment and Wages (QCEW) benchmark data for March 2023. In addition, this revision introduces technical updates, namely, in re-weighting of ADP data to match QCEW data. The historical file was updated to reflect these revisions.

Notice Translation

ADP revises its data to match annual BLS data from March of 2023. The BLS will do the same in its annual revisions.

The BLS does not even back adjust the numbers so its historical record is bogus. And despite being incredibly lagging, the Fed makes key decisions on the data.

Job Openings Rise in December But Quits Tell the Real Story

There’s lots of meaningless chatter yesterday about job openings. However, actions speak louder than openings.

This report comes after Fed Chair Jerome Powell said “No Sugar Tonight” as in no expected rate cuts. That is, until it becomes obvious that Biden will lose the election, THEN The Fed will start cutting rates like crazy.

An example of the trash that Biden and Democrats are importing from Latin America, Africa and China. Among other sewers. I am sure that employers are lining up to hire this guy. … NOT! Correction: Biden may appoint this creep to his cabinet with the other losers.

Unknown's avatar

Published by confoundedinterest17

Published