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Jobs

ADP “Apprentice” Prediction: “You’re All Fired”

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By Douglas A. McIntyre Updated Published
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Jobless_lines_picADP released its own "pre-unemployment number" again for January, and the jobs lost aren’t expected to be pretty.  The payroll company estimates that the US private sector lost some 522,000 jobs in January.  So far, economists expect Friday’s unemployment data to show a loss of 500,000 jobs in the non-farm payrolls.  Economists also expect that unemployment will have risen to 7.5% in January from 7.2% in December.

Be advised that ADP is still a new number, and far from perfect.  It has been very far off of estimates in more months than it has not. It is hard to know when there will be some "good news" on the jobs front, but by the sound of the Labor Department, the ADP report, and by the large companies making the public layoffs, it is probably later rather than sooner.

Jon C. Ogg
February 4, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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