ADP: Marketing Genius?
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 a 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.
Related Posts:
- Non Farm Payrolls- The Fundamental Giant 12:24 08 March 2007
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- A Storm is Coming: The Non-Farm Payrolls Report 11:33 06 August 2009
- Week in Review 00:23 28 May 2006
- "Is the US dollar toast?" 22:48 20 June 2006
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