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ADP: Small Business Still the Pulse of Job Growth

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  • Description

    ADP CFO Jan Siegmund weighs in on the latest hiring trends.

  • Duration 3:04
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-- Right well I next guest has his finger on the pulse of the job growth at nation's private employers both big and small.

So we're hiring trends is he seen joining us now -- -- chief financial officer of ADP which is the largest payroll processor in the world.

Not work -- -- -- 600000.

Plus clients basically at this point -- right.

I feel like -- it's almost sarbanes Oxley all over again isn't it with all the regulation the reporting standards.

Health care now haven't you reported on your W two what do your clients saying about office.

Well our clients phase a lot of challenges the amount of regulatory change including the affordable health care act.

Was a lot of challenges -- them good for us because they're looking for ADP to help them really two but we leave them from from those regulatory -- though.

We -- it with a good side and sat side.

You know small businesses I think -- really struggling.

Yen because.

The -- companies have a global footprint can actually rely on overseas to generate business but for the small companies of the so reliant on the US economy.

Credit is still -- consumers are still in a very.

Mood right now they're not really spending as much -- -- look.

Idiots in Washington and what they're not doing it's a very tough environment is that the small businesses especially who -- to take jobs and expand and stop hiring.

Yeah political uncertainty is certainly contributing probably -- stunting our growth as we have -- if you look at our national employment report last month actually small business generated really -- large amount off that 190000.

New jobs created in that month so it's a mixed picture I would say it would.

You're working with Moody's -- get your report more in line with the governments but.

I would talk about apples and oranges a little bit you really focus on the small business -- the government report does not so why the constant pressure to get them in line.

So those two reports the BLS report that will be published on Friday and our national employment report that we published tomorrow actually -- two different methodologies so we use our real time you'll data.

Off follow up more than 400000 -- in the US and we now really at that data off running the report.

What the employment -- should be and the government really.

Has to choose a to question yet type of thing and the numbers -- just different methodologies.

They're behind to right there -- couple -- -- airport that we we we do receive their first read also doesn't include the full sample are -- things a little bit different.

What we like to focus on the is really.

While our numbers have been a little bit higher I think historic in the last few reports in the government have been.

So we have seen really stronger growth from our perspective.

And governments of trading up to this 109000 -- 190000 -- Among is is is better than historic of course though.

When smiled as discussed in our can most of the way they do it is so important -- staff Leon thank you for coming -- thank you so much for having me passing minute with ADP.

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