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Wed Oct 31st 11:58 AM | Rating: 0 0
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ADP Up After Earnings Report But Still Faces Some Problems

Float on payroll dollars? People choosing direct deposit hurting ADP? A comment like that shows your supporting cast doesn't understand ADP's business very well. Sure, there might be a little float on payroll/employee income, but the BULK of ADP's float comes from tax funds (SUI, FICA, Fed, State, etc.), not from employee payroll. Scott needs to read the reports better.

Also, ever notice that the DoL has gone back and amended previous months, and most of the time they did, the revised numbers were very close to ADP's employment report trends? Of course, the pundits don't go back and look when that happens...
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