Mish's Global Economic Trend Analysis: Headline Jobs +163,000, But Household Survey Shows -195,000 Jobs; Unemployment +.1 to 8.3%
ADP got the headline job number correct, I certainly didn't. However, one look beneath the surface shows this was actually an anemic jobs report.
Recall that the unemployment rate varies in accordance with the Household Survey not the reported headline jobs number, and not in accordance with the weekly claims data.
Quick Notes About the Unemployment Rate