ADP Continues Weakening Trend As Goods-Producing Jobs Shrank… Again
by Tyler Durden
ZeroHedge.com
Aug 31, 2016
The general trend of weakenig ADP job growth continues in August with a 177k print (in line with expectations). Goods-related jobs dropped 6k but Service-related roles rose 183k, but notably construction jobs fell 2k while zero new manufacturing jobs were created, even though some 19,200 “franchise workers” were added. It is also worth pointing out that over the past five months the average ADP employment gain is 175K, which is the lowest since July 2013.
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