ADP Forecasts a Big Job Loss in December

Mish

ADP is hit or miss on its jobs forecasts but if accurate December will be a bad month.

ADP December 2020 Forecast

 Private sector employment decreased by 123,000 jobs from November to December according to the December ADP National Employment Report. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.  

ADP December 2020 Forecast

Change by Company Size

ADP Change by Company Size for December 2020

Medium-sized businesses, defined as companies with 500-999 employees have been the hardest hit in the pandemic.

Mish

Comments (8)
No. 1-5
goldguy
goldguy

No problem, democrats will print, print, print and print more until the dollar will look like used toilet paper.

Jojo
Jojo

All because of states reimposing lockdowns in the desperate hope that the results will be different this time around.

Lance Manly
Lance Manly

So I have the US with 146 million NFP jobs in Jan 2017, in a growing economy. Looks like maybe 142 million in Jan 2021. Winning!

Six000mileyear
Six000mileyear

My company announced earlier this week it was closing unfilled / open contractor positions until further notice. It means things are getting worse and expected to remain depressed.

huriyahfasih
huriyahfasih

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