Payrolls "Less Worse": More from the Second Derivative Recovery

I love when things keep getting worse, but at a slower pace.  Don’t get me wrong, I really love when things actually get better – but I don’t want to be a greedy pig here, nor should you.

Let’s just accept the “Less Worse” news and be grateful.

ADP payroll numbers for January are out:

A report by ADP Employer Services showed the United States lost 22,000 private sector jobs last month, smaller than the 61,000 jobs lost in December and economists’ forecasts for a 30,000 loss in January. December’s decline was first reported at 84,000.

January’s tally was the lowest since February of 2008, according to the ADP report, developed jointly with Macroeconomic Advisers LLC.

“The trend continues to get less worse. This is consistent with job growth returning in the United States,” said Dave Sloan, senior economist at 4Cast Ltd in New York. “I do believe the U.S. economy is now strong enough to create jobs.”

Yay!  The Second Derivative Recovery continues…half speed ahead!

Source:

Pace of Private Sector Job Losses Slows (Reuters)