ADP reported a gain of 497,000 jobs in June which was double initial estimates. The news was cheered by the clowns in the media.
Another huge month of private-sector job gains: ADP reports employers added 497,000 jobs in June, more than double economists' estimates.
Even Fox Business: “Well, that's not recessionary at all!” pic.twitter.com/vXzc6u1ACe
— The Recount (@therecount) July 6, 2023
The problem with the data is that almost all of the job growth was in leisure and hospitality which are typically not high paying jobs.
The ADP job growth was leisure/hospitality, education, and trade/utilities.
High-paying Information, finance and professional jobs all declined pic.twitter.com/gdaLWID3i7
— zerohedge (@zerohedge) July 6, 2023
On top of that, these types of jobs are not really net new jobs. They are merely jobs that are coming back following two years of the virus hoax, lockdowns etc..
The report noted a loss of 42,000 manufacturing jobs but nobody is talking about that.
These are not good numbers. If the assholes in the media could read and use a little bit of common sense they would agree that they are not good numbers.
