{"id":1493468,"date":"2024-10-02T12:36:29","date_gmt":"2024-10-02T16:36:29","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1493468"},"modified":"2024-10-02T12:36:29","modified_gmt":"2024-10-02T16:36:29","slug":"adp-employment-report-shows-strong-rebound-in-jobs","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/adp-employment-report-shows-strong-rebound-in-jobs\/1493468\/","title":{"rendered":"ADP Employment Report Shows Strong Rebound In Jobs"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">ADP Employment Report Shows Strong Rebound In Jobs<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>In the first major labor market indication since The Fed slashed rates by 50bps (because the economy is doing so well?), ADP&#8217;s Employment report showed a much bigger than expected increase in jobs (+143k vs +125k exp vs +103k prior)&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/get_attachment_url%20%287%29_2.jpg?itok=70LBIwkn\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>That was above all but one of the economists&#8217; estimates&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/get_attachment_url%20%288%29_3.jpg?itok=Y2YroMHD\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p><strong>Job creation showed a widespread rebound after a five-month slowdown.<\/strong> Only one sector, information, lost jobs. Manufacturing added jobs for the first time since April.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/get_attachment_url%20%2810%29_1.jpg?itok=IpbfZREg\"><\/a><\/p>\n<p>Wage growth continues to slow&#8230;Year-over-year pay <strong>gains for job-stayers fell slightly <\/strong>in September to 4.7 percent.<strong> For job-changers the decline was greater,<\/strong> falling from 7.3 percent in August to 6.6 percent.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/get_attachment_url%20%289%29_1.jpg?itok=FPbUmlKE\"><\/a><\/p>\n<p><em><strong>\u201cStronger hiring didn&#8217;t require stronger pay growth last month,\u201d<\/strong><\/em> said Nela Richardson, chief economist, ADP.<\/p>\n<p><em>\u201cTypically, workers who change jobs see faster pay growth. But their premium over job-stayers shrank to 1.9 percent, matching a low we last saw in January.&#8221;<\/em><\/p>\n<p>So how will The Fed explain their next rate cut if jobs are re-accelerating?<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Wed, 10\/02\/2024 &#8211; 08:36<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/economics\/adp-employment-report-shows-strong-rebound-jobs\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/economics\/adp-employment-report-shows-strong-rebound-jobs<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ADP Employment Report Shows Strong Rebound In Jobs In the first major labor market indication since The Fed slashed rates by 50bps (because the economy&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1493469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1493468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1493468"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1493469"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1493468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1493468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1493468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}