3 years ago

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Rumble = https://rumble.com/user/SweetHomeStAugustine
Locals = https://sweethomesa.locals.com/
POPULIST REVOLT = https://populistrevolt.com

https://youtu.be/SdE7raoP1aI

Feb 2 = https://www.cnn.com/2022/02/02/economy/january-jobs-adp-employment-report/index.html

New York (CNN Business)Omicron threw a wrench into America's economy at the start of 2022: The US private sector lost hundreds of thousands of jobs in January, according to Wednesday's ADP Employment Report.

The loss of 301,000 private-sector positions came as a surprise to economists who had predicted businesses had added 207,000 jobs. It was also the first decline in the ADP report since December 2020.

So CNN Jan job numbers reported 301,000 jobs LOST. Yet Feds reporting a job gain of 467,000, yet stocks didn’t respond as always to a positive growth!
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https://www.cnn.com/business/live-news/stock-market-news-jobs-020422/index.html - following two stories from this URL

Stocks mixed following shockingly strong jobs report
9:35 a.m. ET, February 4, 2022 From CNN Business' Paul R. La Monica

Stocks opened mixed Friday morning after the US government reported that 467,000 jobs were added last month, much better than expected. Yet the solid numbers may raise fears that the Federal Reserve will have to boost interest rates more rapidly to fight inflation. Bond yields spiked after the jobs report.

The Dow fell 0.2%, or about 85 points.
The S&P 500 was flat.
The Nasdaq Composite rose 0.5%.
The jobs news overshadowed strong earnings from tech companies Amazon (AMZN), Snap (SNAP) and Pinterest (PINS). All three stocks rallied Friday morning, rebounding from big losses Thursday after Facebook owner Meta Platforms (FB) shocked the market by reporting a drop in daily users and a poor outlook.

AND

10:35 a.m. ET, February 4, 2022

How did economists miss the mark, yet again, on jobs report predictions?
From CNN Business' Allison Morrow

The big theme of the January jobs report: Surprise! All bets were on a tepid 150,000 jobs added. Instead we got 467,000.

And it wasn’t just January. It turns out November and December were far stronger than the Labor Department had initially reported — like, more than 700,000 jobs stronger over those two months. So what happened?

First, let’s break down the revisions for December. The gap between expectations and reality led to a disappointing result:

Expectations: 400,000 jobs added
Initial report: 199,000 jobs added
Revised report: 510,000 jobs added (or added 311,000! More than 2.5 initially reported)
The November gap was also significant:

Expectations: 550,000 jobs added
Initial report: 249,000 jobs added
Revised report: 647,000 jobs added (or added 398,000! More than 2.5 times initially reported)

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https://www.theguardian.com/commentisfree/2013/may/04/adp-forecasting-monthly-bls-jobs-reports

How good is ADP at forecasting the monthly BLS jobs reports?

Asks why a discrepancy a big deal in the government reported Automatic Data Processing (ADP) jobs report predictions

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