Companies cut jobs in January for the first time in more than a year, payroll processing firm ADP reported Wednesday. Private payrolls fell by 301,000 for the month, well below the Dow Jones estimate for growth of 200,000.
MacDailyNews Take: So, the estimate by “the experts” was only off by 501,000 jobs.
It was the first time ADP reported negative job growth since December 2020.
Leisure and hospitality industry was responsible for more than half of the decline, as companies reported a drop of 154,000. Trade, transportation and utilities cut 62,000 while the other services category declined by 23,000.
Manufacturing also lost 21,000 positions, while education and health services reported a drawdown of 15,000 and construction fell by 10,000.
Service-providing industries were responsible for 274,000 of the job losses, with goods producers falling by 27,000.
From a business-size standpoint, the job losses were concentrated at small firms, with companies employing fewer than 50 people seeing a drop of 144,000. Businesses with more than 500 employees lost 98,000, while medium-sized firms declined by 59,000.
MacDailyNews Take: Obviously, a healthy American economy benefits Apple, as the country is Apple’s largest market, by far.
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U.S. Presidential elections purchased by Mark Zuckerberg have consequences.
Wait a second. You mean all that Biden chest thumping was based on a lie?!
Joe has opened the border to anyone, reportedly, so the new incomers can find the jobs that were lost. Kamala has confirmed the choice. She’s the Border Czar. All is good.
If you voted for Biden, you are a Ufcking idiot.
Make that 301,001 jobs. That moron and pervert scumbag Zucker-the-Biden-asskisser just joined the line.
Along with everything else, President Trump was right about Fake News CNN, too!
The economy added 467K jobs in January! That beats expectations (+125K) and quells fears that Omicron would lead to losses. Unemployment ticks up to 4% from 3.9% (strong rise in labor force). December also revised up. Excellent news. IF YOU EVIL BATSH!T CRAZY TRUMPSTER TRAITORS DON’T BELIEVE ME – STOP WATCHING FOX OR Alex Jones. Get your data from Reuters – the most respected news source in the word. DUH…
This has nothing to do with Apple, and everything to do with the political views of SteveJack and his/her sycophants! The mention of healthy economy benefiting Apple in some ways, is specious.
Employment reports and the macroeconomy have been covered by MDN for 20 years, through multiple administrations, perfectly disproving your claim of political motivation.
Your actual issue with this article is that you just don’t want to hear that “your guy” (retarded pants-shtting imbecile that he is) is FAILING, everybody knows he’s FAILING, and he therefore has lower approval numbers and higher disapproval numbers than his predecessor, a duly-elected U.S. President who did not have the benefit of a sycophantic legacy media constantly propping up his failing, illegitimate regime, but rather a hostile legacy media inventing “scandals” out of whole cloth on a daily basis.
Mega Ditto !!!
How long after you wrote this did you stop crying?
You’re being lied to on a daily basis by the media. People need to wake up.