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March Report: NewJobs=192k; New Workers=500k; Unemployment=6.7%

by
John Zappe
Apr 4, 2014, 9:45 am ET

Econ Indicators March 2014U.S. job growth in March was somewhat lower than predicted as employers added 192,000 jobs during the month. The unemployment rate remained at 6.7 percent due largely to the half-million workers who rejoined the labor force.

This morning’s report from the U.S. Bureau of Labor Statistics also upped the initial numbers for January and February, adding 37,000 more jobs. With the revisions, monthly job growth during the first quarter of the year averaged 177,700 new jobs versus 206,000 for the first quarter last year.

Analysts were expecting a March gain of about 200,000 jobs, but the various surveys of economists showed a wide range of individual estimates. (The business news services survey analysts prior to the release of the monthly government report, and then average their estimate to produce a consensus result.) How much of the decline in job growth from last year is due to the unusually bad weather is a subject of debate among economists. keep reading…

Strong ADP Report Shows 191k New March Jobs

by
John Zappe
Apr 2, 2014, 12:04 pm ET

ADP March 2014The jobs picture brightened considerably in March, as 191,000 new workers were added to private sector payrolls, according to ADP’s National Employment Report.

The HR services firm, which processes payrolls for some 24 million U.S. workers, reported gains in all broad industry categories with the job growth spread almost evenly among employers ranging from the smallest (under 50 employees up by 38,000) to the largest (over 1,000 up by 53,000). keep reading…

February Jobs Report: Better Than Expected; Not as Good as Last Year

by
John Zappe
Mar 7, 2014, 9:40 am ET

February 2014 econ indicatorsLess crippled than economists predicted by the nasty weather that gripped much of the nation last month, the U.S.Department of Labor reported this morning the economy improved hiring in February, adding 175,000 new jobs. That was 25,000 more jobs than the average of analyst estimates.

In this touch-and-go recovery, gains higher than expected are good news. But the numbers over the last three months are anemic compared to last year’s average 190,000 new monthly jobs. February 2013, unencumbered by bitter weather, saw 280,000 new jobs. keep reading…

Weather Blamed Again for Weak Job Showing

by
John Zappe
Mar 5, 2014, 12:47 pm ET

ADP Feb 2014 sector changes Mother Nature is again being blamed for slow job growth, following this morning’s release of new job estimates that are among the lowest in months.

ADP’s National Employment Report says the economy added a meager 139,000 new private sector jobs in February, well below the 155,000 to 160,000 consensus estimates of labor analysts.

The report, which included annual revisions to previous ADPs reports, adjusted January’s private sector numbers to 127,000 from an initial 175,000.

Mark Zandi, chief economist of Moody’s Analytics, said, “February was another soft month for the job market. Employment was weak across a number of industries. Bad winter weather, especially in mid-month, weighed on payrolls. Job growth is expected to improve with warmer temperatures.” keep reading…

January Job Growth Disappoints for Second Month

by
John Zappe
Feb 7, 2014, 9:51 am ET

Econ data Jan 2014The U.S. grew jobs at a disappointing pace in January, the second consecutive month that hiring came in far below what economists were expecting. The Department of Labor’s monthly jobs report, issued this morning, said 113,000 new jobs were created during the month, some 70,000 below predictions.

And if that wasn’t enough gloomy news, the report upped December’s initial job count of 74,000 by a mere 1,000 jobs. A revision to the November numbers did better, adding 33,000 to 241,000 previously reported.

The U.S. government’s Bureau of Labor Statistics, which compiles the monthly jobs and employment data, also issued annual revisions for all of 2013, adding 87,000 new jobs to the cumulative 2.038 million reported during the year. If it hadn’t been for the expectation the revision would be far higher — to 345,000 – that might have been considered good news. keep reading…

Weather Blamed for January’s Slower-than-expected Jobs Growth

by
John Zappe
Feb 5, 2014, 12:45 pm ET

Change-in-Nonfarm-Private-Employment-January-2014Snowy cold weather and a dose of post-holiday caution kept hiring softer in January than many economists were expecting. HR services company ADP and Moody Analytics reported this morning that 175,000 private sector jobs were created last month, 10,000 to 14,000 fewer than the average of analyst predictions.

The report sent stocks lower this morning, although other economic reports suggested there is more strength in the economy than this week’s deep drop in financial markets might suggest. The Institute for Supply Management, which helped set off Monday’s market decline with a weaker than expected manufacturing report, this morning reported its services index rose to 54 last month from 53 in December. The ISM’s services employment index was also up. keep reading…

Worst Job Growth in Two Years Stuns Analysts

by
John Zappe
Jan 10, 2014, 9:39 am ET

December 2013 econ indicatorsThe government’s estimates of December’s job growth, projected by most economists to come in at somewhat over 190,000, stunned analysts with the report of an anemic 74,000 new jobs.

The report, released this morning by the U.S. Bureau of Labor Statistics, contradicts other, positive signs of economic strength, including strong home sales and a rise in the manufacturing index over the last several months. The National Employment Report from ADP and Moody’s Analytics, out Wednesday, estimated the private sector in December added 238,000 non-farm jobs.

The job growth number was the worst since May 2011. keep reading…

2013 Ends With Big Jump in Private Sector Jobs

by
John Zappe
Jan 8, 2014, 12:21 pm ET

ADP Dec. 2013 Change by sectorThe New Year is starting on a positive note with HR services firm ADP reporting this morning that December saw more new jobs created than any month since November 2012. All industry sectors contributed to the 238,000 non-farm, private sector jobs added last month.

ADP and its partner Moody Analytics also adjusted upward the job gains for November and October by a combined 35,000. Construction was a powerful driver of the gain, adding 48,000 jobs last month, the most since February 2006. Manufacturing added 19,000 jobs, the second-biggest gain for the sector in more than a year. Even finance and financial activities posted a gain. keep reading…

Strong Job Numbers Bring Unemployment Down to 5-Year Low

by
John Zappe
Dec 6, 2013, 9:38 am ET

econ index nov. 2013Unemployment fell to the lowest level in five years in November as employers added 203,000 jobs, demonstrating an economic strength that surprised economists who had been expecting lower numbers.

The U.S. Labor Department report out this morning said the unemployment rate declined to 7.0 percent from October’s 7.3 percent, even as more workers joined the labor force and the total employed population rose, in part reflecting the return to work of furloughed federal employees.

“This is just a clean sweep,” said Stuart Hoffman, chief economist for PNC Financial Services Group. “It’s a very good report. It’s across the board.”

keep reading…

U.S. Economy Shows Job Growth Strength; Adds 215k Jobs

by
John Zappe
Dec 4, 2013, 1:14 pm ET

ADP Nov 2013 reportHandily beating predictions for a modest jobs increase last month, ADP reported this morning that the U.S. private sector added 215,000 jobs in November.

That estimate, derived from the millions of paychecks ADP processes each month, was 40,000 to 50,000 jobs higher than surveys of economists predicted. ADP, and its partner Moody’s Analytics also upped the initial job counts for September and October by 93,000 more jobs.

Small businesses, those with fewer than 50 workers, added 102,000 new jobs. The largest employers, those with more than 1,000 employees, added 70,000 jobs. keep reading…

No Shutdown Effect Seen as October Jobs Grow by 204,000

by
John Zappe
Nov 8, 2013, 9:55 am ET

Econ index Oct 2013Late-night comedians will have a field day with the October jobs report released in the U.S. today. Shut down the government and job creation soars.

Although the unemployment rate ticked up slightly to 7.3 percent, the 204,000 jobs reportedly created last month so far exceeded what economists were expecting that it lead some to suspect the numbers.

“I find this bizarre,” Mark Zandi told CNBC. “I wouldn’t be surprised if this gets revised to some degree … down.” He is chief economist for Moody’s Analytics, which partners with ADP in producing the HR services firm’s National Employment Report. That report, out last week, said 130,000 private sector jobs were added to the economy in October. keep reading…

Shutdown Impact: 130K New Jobs In October

by
John Zappe
Oct 30, 2013, 4:34 pm ET

Change in ADP employment Oct 2013Slowdown or shutdown? Whatever’s behind it, October’s private-sector job growth was the smallest since April. ADP and its partner Moody Analytics say only 130,000 jobs were created during the month. They also revised the initiate estimate of September’s new jobs to 145,000, a drop of 21,000.

Although the numbers are rarely in sync, this morning’s report doesn’t bode well for the official report from the Department of Labor. keep reading…

Optimism Among Manufacturers Prompts Plans For More Hiring

by
John Zappe
Oct 23, 2013, 6:45 am ET

Manufacturer Hiring outlookHiring plans by American manufacturers are at the highest level in five years, and the 58 percent of industrial employes who say they expect to add workers in the next 12 months is the second-highest percentage of the last 10 years.

The jobs expansion is matched by their optimism in the U.S. economy and their rising confidence that the global economy is also improving.

A quarterly “Manufacturing Barometer” from PwC says that 60 percent of the industrial manufacturers the accounting and business consulting firm surveyed were optimistic about the U.S. economic future. Last year, PwC’s third-quarter survey found only 37 percent expressing optimism. Those doing business globally were less confident about the world economy, with 40 percent confident about the economic direction. Still, that’s a rise of 23 percentage points from last year. keep reading…

Delayed September Jobs Report Says 148k New Jobs in Month

by
John Zappe
Oct 22, 2013, 9:42 am ET

Econ index Sept 2013As far as September’s jobs news is concerned, it might have been better if the government shutdown cancelled the report altogether. Instead, the U.S. Labor Department ‘s delayed report released this morning showed the U.S. economy added 148,000 jobs in September while the unemployment rate inched down to 7.2 percent.

Economists were expecting the report to show an increase of about 180,000 jobs. MarketWatch economists were expecting an even-more-robust 185,000. No change was predicted from August’s 7.3 stronger unemployment rate.

The government also adjusted numbers for August and July, resulting in a July gain of only 89,000 jobs, the weakest showing in a year. However, with August’s upward revision of 24,000 jobs, the net gain comes to 9,000. keep reading…

ADP Says 166,000 New Jobs Last Month; No Government Report Likely

by
John Zappe
Oct 2, 2013, 2:05 pm ET

ADP September 2013 reportWith the shutdown of the Federal government, the ADP report this morning that the U.S. economy added 166,000 private sector jobs in September takes on even greater importance than it normally would.

Until the shutdown is resolved, ADP’s numbers will stand as the only measure of U.S. jobs growth. Typically, ADP releases its job count estimate a day or two in advance of the official report from the U.S. Department of Labor. That report, which includes a count of government jobs, also details the national unemployment rate and provides drill-down data on the size of the national labor force, as well as an industry-by-industry look at job growth. keep reading…

A Ranking of the World’s Human Capital

by
Todd Raphael
Oct 1, 2013, 4:48 pm ET

Screen Shot 2013-10-01 at 1.45.10 PMThose readers tired of hearing about the U.S. government shutdown can peruse this 500+ page PDF. It’s a new ranking of countries around the world, in a “human capital index” order.

The list comes courtesy of Mercer and the World Economic Forum, based in Switzerland — a country ranked No. 1. The U.S. is 16th.

The criteria includes such things as businesses’ ability to attract and retain talent; the physical and mental well being of the population; education levels; the legal system; and the ease of doing business.

The document first ranks countries, and then profiles each nation one by one.

keep reading…

CFOs: 2 Percent Hiring Growth Next 12 Months

by
John Zappe
Sep 17, 2013, 12:31 am ET

Duke surveyDespite optimism about higher earnings and revenue growth, a survey of the nation’s CFOs finds them worried enough about Obamacare and the strength of the economy that they’re shifting hiring toward temps and part-timers.

The quarterly Duke University/CFO Magazine Global Business Outlook Survey found 59 percent of CFOs have increased temporary and part-time workers and are turning with greater frequency to outside consultants and advisers. The survey shows work increased: keep reading…

Employers Slow Hiring In August As More Workers Stop Looking

by
John Zappe
Sep 6, 2013, 9:39 am ET

Econ indices Aug 2013Discouraging news on the employment front this morning as the U.S. government says 169,000 jobs were added in August.

Although lower than what most surveys of economists were expecting, the number itself wasn’t so far off this year’s revised monthly average of 182,000 new jobs to be called disappointing. August is one of the slower months for hiring. However, the U.S. Bureau of Labor Statistics knocked down its numbers for June and July by a combined 74,000 jobs. July alone was slashed 58,000; the 104,000 jobs was the smallest gain since June 2012.

Surveys before this morning’s release of August’s numbers predicted the economy added somewhere between 170,000 and 175,000 jobs. keep reading…

Private Sector Jobs Grow More Slowly in August

by
John Zappe
Sep 5, 2013, 12:58 pm ET

ADP Aug 2013 jobs chartPrivate sector hiring slowed in August, off by 11 percent from July’s revised 198,000 new jobs, but still ahead of the 166,000 average of the last 12 months.

ADP’s payroll based count of August’s hiring by private companies came in at 176,000, below the average of what economists were expecting. A Bloomberg survey predicted the report would come in at 184,000 new jobs. A Reuters survey put the number at 180,000.

Although off from the estimates, ADP’s National Employment Report was offset by lower than expected unemployment filings last week, which came in at 332,000, a five-year low. The Institute for Supply Management also turned in a strong report. The ISM said its services index rose to 58.6, the highest since December 2005 and above even the most optimistic of estimates in a Reuters survey. A reading above 50 indicates expansion. keep reading…

U.S. Health Aide Website Gets New Upgrades

by
Todd Raphael
Aug 8, 2013, 3:35 pm ET

datacenterThere’ve been upgrades to a website where you can find information on nursing home aides, home health aides, and personal care aides in the U.S. keep reading…