Pic Of The Moment: Time To Break Out Those Biden Stickers Again

[EarlG]

Private sector companies added 497,000 jobs in June, more than double expectations, ADP says

[TeamProg]

1. Owning the cons! nt

[Alpeduez21]

2. Another good job report

another bad day at the stock market. I'm not saying it's a causal relationship but there sure does seem to be a correlation of some type between good jobs reports and shitty stock markets.

[Fullduplexxx]

17. Companies don't want people to options and jobs they want us at each other's throat for their scraps

[progree]

19. There is a causal relationship in this case --

Another good job report another bad day at the stock market

according to media and pundits. It solidifies predictions that the Fed will raise interest rates again, and the stock market never likes interest rate increases. Core inflation has been stuck for several months at more than 2 X the Fed's target -- see the blue bar charts for core inflation --

https://www.democraticunderground.com/10143095224#post3

Although the more official and comprehensive jobs report comes out in 2 1/2 hours -- the Bureau of Labor Statistics's jobs report. See my #18 below about that and compared to the ADP jobs report that came out Thursday (in the OP). Anyway, the BLS report is what the Fed and the market are going to be focussed on today and the days and weeks to follow.

Currently (at 618 AM ET, before the BLS jobs report release), there is a 90% chance that the Fed will raise interest rates in late July, according to the FedWatch tool
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

[Stuart G]

3. GREAT JOBS REPORT...K AND R

[LetMyPeopleVote]

4. Bideneconomics work

Link to tweet

[Hermit-The-Prog]

7. Trickle-down was as big a scam as Stalinism.

Need to shout Bidenomics from the rooftops and drive a stake through the heart of the Republican agenda of tax exemption for the filthy rich.

[calimary]

5. And PREACH IT, Dammit!!!!!

[uponit7771]

6. K&R

[NoMoreRepugs]

8. Strong labor mkt increases the likelihood of the FED continuing

rate increases to slow down the economy - too many people employed, with 2/3rds of GDP attributable to consumer spending. Huh??

[Yo_Mama_Been_Loggin]

9. But what about the poor billionaires? - the GOP

[IronLionZion]

11. They can go for a sub ride to see the Titanic

There are a lot of conservatives who can ride down with them

[Crowman2009]

13. Or in Elon's case, burning upon re-entry.

You can bet he's gonna lure some fellow billionaires onto his death trap known as the Starship.

[IronLionZion]

14. Free rides for conservative SC justices

[IronLionZion]

10. Let's Go Brandon!

[Cha]

12. TY.. KICK for PRes Biden!

[BigmanPigman]

15. Time for Dems to buy time on TV.

Americans need to be reminded constantly about Dem accomplishments.

[keithbvadu2]

16. Jobs chart (not recent), shows Trump negative job growth.

[progree]

18. What's considered the official jobs report comes out in 3 hours, 830 AM ET

This is the one by the Bureau of Labor Statistics (BLS) that also includes the headline unemployment rate. (And thousands of other statistics, such as the labor force participation rate, part time employment, and the underemployment rate U-6)

At 830 AM ET, this will have today's BLS jobs report; until then, it's the old May jobs report. https://www.bls.gov/news.release/empsit.nr0.htm

The ADP report in the OP is something that comes out 1-2 days (usually 2 days) before the official BLS report. ADP does payrolls for about 20% of payroll employees. The other 80% is estimated using far less information than what the BLS collects. I don't know of any economist or even pundit that considers the ADP payroll jobs report anything more than the ADP payroll jobs report.

The ADP and BLS reports often differ from each other by a few 100,000's, with the differences being in both directions.

Just so nobody is surprised when today's BLS jobs report comes out in 3 hours, or that the figure is considerably different than ADP's (if it is).

Edited to add: Look in Latest Breaking News within a few minutes after 830 AM ET for the BLS jobs report -- somebody (usually BumRushDaShow) almost always posts something as soon as something shows up in the media.

[James48]

20. JOBS increase just 209.000

Not bad, but not 400,000+ as listed yesterday.



Total nonfarm payroll employment increased by 209,000 in June, and the unemployment
rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today.
Employment continued to trend up in government, health care, social assistance, and
construction.

[progree]

21. Yup. Actually I'm kinda glad that it's not a blockbuster. Maybe the Fed will skip the July

rate hike. Though 209,000 isn't bad like you say. A small brightener: the unemployment rate fell from 3.7% in May to 3.6% in June (from the BLS Household Survey that is separate from the BLS Establishment Survey that produced the 209,000 number).

They are assessing it in LBN at https://www.democraticunderground.com/10143097688