S&P 500
7,615.40
-0.09%
Dow Jones
51,329.00
-0.08%
Nasdaq 100
30,646.40
-0.23%
Russell 2000
2,930.28
-0.10%
FTSE 100
10,374.60
-0.13%
Nikkei 225
68,514.20
+1.50%

Jobs

ADP Data Supports Above 9% Unemployment Rate

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
ADP’s jobs data is showing an expected jobs decrease of some 532,000 for the month of May. The data for April also showed that the job losses were revised down to 545,000. The cuts were all over with small  and medium businesses generating 209,000 and 223,000, respectively, and large businesses at -100,000.  The government payrolls expectation for non-farm payrolls due this Friday from the Labor Department is roughly 525,000. This number from ADP will not likely create any radical changes to the unemployment expectations released by the Labor Department this Friday.  It seems that tomorrow’s jobless claims data and the continuing claims may show more insight than today’s ADP data.

Jon C. Ogg
June 3, 3009

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
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.

Continue Reading

More Weak Jobs Data Going Into Key BLS Payrolls & Unemployment Report
Jon C. Ogg |

More Weak Jobs Data Going Into Key BLS Payrolls & Unemployment Report

Unemployment and jobs add up to the best live-reading barometer of the economy. Each month we get to see numerous…

Jon C. Ogg |

Weekly Jobless Claims Fail to Enthuse, Unemployment and Payrolls on Deck

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department is out with its weekly jobless claims report, the last real employment…

March ADP Payrolls Losses Show Only the Start of the Unemployment Carnage
Jon C. Ogg |

March ADP Payrolls Losses Show Only the Start of the Unemployment Carnage

Total nonfarm private sector payrolls were down only 27,000 in ADP's report for March, but that did not include all…

Small Business Hiring in July Puts Cloud Over Unemployment Data
Jon C. Ogg |

Small Business Hiring in July Puts Cloud Over Unemployment Data

Economists look closely ahead of each monthly unemployment and payrolls report at hiring trends in the private sector and in…

Jon C. Ogg |

Intuit Shows Only Small Optimism for Unemployment and Payrolls This Friday

ThinkstockThis Friday we will get to see the Labor Department’s employment situation report. If one number can influence the markets…

Jon C. Ogg |

Key Jobs Data Released Ahead of Unemployment on Friday

ThinkstockThis morning brought on several key economic releases ahead of the key Friday jobs number and unemployment data from the…

Jon C. Ogg |

Payroll Report Preview Conundrum: No Extended Unemployment Beneficiaries in It

January and February have put the stock market in question for 2014. After three series of major economic releases were…

Jon C. Ogg |

How to View Unemployment and Payrolls This Week

This coming Friday we will get to see the U.S. Labor Department's report on payrolls and unemployment data for the…

Chris Lange |

Will Labor Department Payrolls and Unemployment Report Meet Expectations?

On Friday morning, the U.S. Department of Labor will release its Employment Situation report for the month of October.

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826