About Piponomics

Economics play a huge role in the foreign exchange market. I enjoy looking at economic trends and trying to see how it affect currencies and life in general. I will post my thoughts and observations here. I'm throwing macroeconomics, forex trading, pop culture, and everyday life into a pot and hopefully the final product are lessons that are easy for you to consume.

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ADP: Marketing Genius?

Posted 20:51 10 July 2006 | Comments

Last Thursday, the dollar shot up because the private payroll processing firm ADP released their employment citing a ridiculous gain of 368,000 jobs for the month of June. This sounded all gravy until the real deal non-farm payrolls report came out with a "puny" number of 121,000. Talk about being off.

Here's a screenshot of their "report". It doesn't look like your standard boring data report does it? It's a bit more slick...kind of like an ad...hmmm.

Check out this post from the Big Picture who compares the actual data comparing BLS Non-Farm Payroll Reports with the ADP National Employment Report for 2006.

Was ADP's "employment report" just a slick ploy to get some good ol' free publicity? It if it was, that's marketing genius. Brilliant.