Today the ADP showed a disappointing 119,000 which makes no sense considering yesterday’s manufacturing ISM number.
Kass on the moneypro page at thestrret.com writes:
ADP Addendum
May 2, 2012 | 10:08 AM EDT
- The April ADP reports in both 2010 and 2011 understated actual payroll growth reported by the government.
As an addendum to my payroll analysis, I forgot to mention that the April ADP reports in both 2010 and 2011 understated actual payroll growth reported by the government.
Position: None
ADP Survey Disappoints, But…
May 2, 2012 | 9:38 AM EDT
- I am not of the view that the weakening trend in job growth will be long-lived. http://realmoneypro.thestreet.com/dougs-daily-diary?published%5Bvalue%5D%5Bdate%5D=2012-05-02#adp-addendum-20120502