Wednesday, August 1, 2012

It's The Economy Stupid: ADP Jobs

ADP Employment Change  JULY  +163K, economist estimated 120K.  This is down slightly from the prior periods +172K.


Modest growth in job creation is a good thing, and the ADP number suggests a modest decline in the unemployment rate.  But the economy needs to put 5 million to 7 million people back to work, so what we really need is change in the +300K range.  So it’s positive, but it continues to show a very sluggish recovery.


The ADP number has been the best of a bad set of economic numbers.



John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury


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