New Obama Normal

This is what a New Normal Obama non-recovery looks like:

With a paltry 130K private jobs created in October, this was a monthly plunge in private (i.e. non-government) payrolls, well below expectations, and substantially lower than the September 166K print which also was revised lower to 145K. It was also the 4th consecutive monthly decline starting with a 190K print in June, and it’s all downhill from there. Finally, this was the 7th ADP miss in the past 8 months. We can’t wait as the spinmasters do all they can to explain how private payrolls were affected by a government shutdown.

ADP payroll numbers, big miss

Change-in-Nonfarm-Private-Employment-October-2013

Comments are closed.

%d bloggers like this: