ADP Job Numbers: Big Decline for December
Some not so good numbers for the U.S. job market. The ADP report out today showed a decline of 40 thousand jobs for the month of December (the report focuses on the private sector). CNBC's Steve Liesman on "Squawk Box" talked about the figures along with guest host Alan Murray from the Wall Street Journal and Joel Prakken of Macroeconomic Advisors.
The 40k is a big drop from the November calculations. Those showed an increase of 158,000 jobs to the private sector.
Prakken says the decline should be put in perspective--that December is a seasonal month with workers coming and going. He said there is no real area to point to for the decline.
Murray said that perhaps too much was made of this number and that the figures from the U.S. Labor Department are the ones to focus on. Liesman says this is important in the overall scheme of the employment picture.
That Labor report comes out on Friday and is expected to show some 110,000 nonfarm payroll jobs were created in December--down from 132,000 in November.