Official Job Creation – a Function of a Excel Speadsheet…

31 Oct

ADP “Cancels” 365,000 Private Jobs Created In 2012

The data revision was supposed to be publicly disclosed tomorrow when the official October ADP number was released. Well, just like today’s Chicago PMI, and so many other data points recently, this too was released early. What the early release allowed us to promptly calculate is that using the historically revised numbers, and comparing those based on the original methodology, in 2012 alone, the US would have lost a whopping… 365,000 private jobs!

The chart below shows the old data series (which can still be found at the St. Louis Fed), and the new series, which can be extracted from the advance leaked press release. The cumulative difference is the black line. It needs no explanation.

 

https://i0.wp.com/www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/10-2/ADP%20Cumulative%20Miss%202012.jpg

Given the fudging going on with the data being released by the Obama administration’s bureaucrats, it is no wonder the agencies upon which traders rely for data points are rushing to get this info out ahead of November 6.

Zero Hedge

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