"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Wednesday, March 31, 2010

ADP Payroll Report…. Loss of 23,000, SWING AND A MISS!

The consensus Wall Street pundits forecast an increase of 40,000 private sector jobs for the month of March. Don’t worry about the equity market, as this is a jobless recovery! The Quant robot traders refuse to let fundamental economic data get in the way of an orchestrated upward trajectory. PLUS, it is the end of the quarter; it is imperative to end on an up note so fund managers are assured their bonus and receive the happy hour invitation.

Remember America, this is not about you. The equity market is best left to the few, the proud, the manipulators.

Non-farm Private Employment Highlights
Total employment: -23,000
Small businesses* -12,000
Medium businesses** -4,000
Large businesses*** -7,000
Goods-producing sector: -51,000
Service-providing sector: +28,000
Manufacturing industry: -9,000

“The economic recovery has not been long enough or strong enough along the way yet to produce the kind of rapid employment that people are hoping for,” Joel Prakken, chairman of Macroeconomic Advisers LLC in St. Louis, which produces the figures with ADP, said in a conference call with reporters after the report.

“Today’s figure does not incorporate a weather-related rebound that could be present in this month’s” report from the Labor Department, Prakken said in a statement. “It is reasonable to expect” that the government’s report will be “stronger” than the ADP estimate”.


ADP Report

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