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Wednesday, July 01, 2009

 

ADP jobs (-473k)


econompic:

The ADP report for June is out at -473,000. This is down from -485,000 as revised in May. This is also worse than the estimates being less than -400,000 on an unofficial basis. This number is computed from a subset of ADP records that represent close to 400,000 business clients million U.S. employees working in all private industrial sectors.


missed expectations, previous month revised down. things are not as good less bad as hoped. the better followed BLS number is out tomorrow.

predictably, employment conditions are feeding into the housing decline now in a big way. via clusterstock:

Delinquency rates on prime mortgages, the least risky category, more than doubled in the first quarter from a year earlier, according to statistics released yesterday by the government.

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