Comments on: ADP report shows 371,000 jobs lost http://www.creditwritedowns.com/2009/08/adp-report-shows-371000-jobs-lost.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: aitrader http://www.creditwritedowns.com/2009/08/adp-report-shows-371000-jobs-lost.html#comment-56828 aitrader Thu, 06 Aug 2009 08:34:00 +0000 http://www.creditwritedowns.com/2009/08/adp-report-shows-371000-jobs-lost.html#comment-56828 ADP may show 371,000 losses but another metric that tracks US income tax filings by Trim Tabs shows it at a loss of 488,000. The birth-death adjustments used by ADP make the data more of a rigged crap shoot rather than a snap-shot of real unemployment. <i>In another Wednesday job report, TrimTabs Investment Research estimated that job losses accelerated last month, with 488,000 workers laid off in July, worse than the ADP estimate. TrimTabs uses daily income-tax withholdings to the U.S. Treasury to estimate changes in employment. "While Wall Street is convinced the recession is over, the economy continues to shed jobs at an alarming rate," said Charles Biderman, chief executive of TrimTabs.</i> http://online.wsj.com/article/SB124946923418307415.html ADP may show 371,000 losses but another metric that tracks US income tax filings by Trim Tabs shows it at a loss of 488,000. The birth-death adjustments used by ADP make the data more of a rigged crap shoot rather than a snap-shot of real unemployment.

In another Wednesday job report, TrimTabs Investment Research estimated that job losses accelerated last month, with 488,000 workers laid off in July, worse than the ADP estimate. TrimTabs uses daily income-tax withholdings to the U.S. Treasury to estimate changes in employment.

“While Wall Street is convinced the recession is over, the economy continues to shed jobs at an alarming rate,” said Charles Biderman, chief executive of TrimTabs.

http://online.wsj.com/article/SB124946923418307415.html

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