Non-shocker of the day: September jobs data revised by half

https://twitter.com/TRoosevelt1973/status/263735015823794176

I wonder if $adp data is relevant anymore. They just revised Sept. number down by 1/2! #stockaction

— Mehrdad Ketabchi (@mketabchi) October 31, 2012

https://twitter.com/Planet_Rob/status/263725872006197248

If you think America created jobs, it didn't. ADP made that happen. http://t.co/aFoojI65 #revised

— Dave O (@do6986) October 31, 2012

Via CNBC:

Revisions to the way payroll data firm ADP counts private sector job creation have resulted in a sharp drop in the September employment count.

The firm recently has entered into a partnership with Moody’s Analytics that will change the way the private payroll count is calculated.ADP’s new calculations put the monthly job creation at just 88,200, down from the 162,000 the firm originally reported earlier this month.

The new private payroll count now is actually under Labor’s September job creation household survey net total of 114,000, 104,000 of which came from the private sector.

Question of the day:

https://twitter.com/jstan59/status/263736327009353728

The new jobs report is scheduled to be released on Friday, four days before Election Day.