White House Senior Adviser Kevin Hassett argues the ADP report is such good news that he needs to "dig deep into it and see if there's not something funny going on."
MARIA BARTIROMO, FOX BUSINESS: We've got an ADP number of 2.76 million jobs lost versus an estimate of 9 million jobs. Again, that conversation we were just having on maybe we've seen the worst. What do you say?
KEVIN HASSETT, WHITE HOUSE: Right. Yes, well, again, the headline is that we have -- you know, we're getting close to having hit bottom for sure. And you can see that.
The thing I was about to interject before we cut to the number was that if you look at continuing claims, they're starting to head down. For every two people that lost their job in the last report, you know, three people went off unemployment insurance.
And so there definitely are signs that we're turning the corner. This number so much below expectation or what you would get if you built up from the claims data that I wonder about it. And I'll go back to my desk and study it. But I -- I -- the number is so good, it's such good news, that I really have to dig deep into it and see if there's not something funny going on because that's pretty far removed from what we would get if we just added up the claims data and so on from the last survey week.