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U.S. companies shed 32,000 jobs in September in latest sign of labor market weakness (www.nbcnews.com)

submitted 8 months ago by cm0002@lemmy.world to c/usa@midwest.social

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[–] frezik@lemmy.blahaj.zone 12 points 8 months ago (1 children)

Note that this is ADP data. They're a common company for handling payroll. Common enough that their data is statistically valid for the whole US economy and makes for an alternative to BLS data.

It's not directly comparable to BLS numbers due to different methodologies. It can still definitely be said that 32k jobs is abysmal. It takes 100k to keep up with new people entering the job market.

[–] MelodiousFunk@slrpnk.net 9 points 8 months ago (1 children)

Well we're not going to get any BLS data for a while. And the chances of getting any valid BLS data went to zero after The Diddler fired the commissioner for telling him something he didn't like.

[–] frezik@lemmy.blahaj.zone 7 points 8 months ago

Pretty much.

We should also be concerned that one company runs enough of the payroll for everyone that their data is a replacement for government agencies.