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economicdata RSS feed Tag: economicdata

Shutdown Impact: 130K New Jobs In October

by 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 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 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 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 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 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 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 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 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…

Strong July Jobs Report From ADP Points to Even Better Government Numbers

by Jul 31, 2013, 12:43 pm ET

Change in employment July 2013 adpThe summer of 2013 is turning out to the best in years for the U.S. economy as more jobs have so far been added in June and July than in any of the years since the start of the recession.

With the news this morning from ADP and its data analysis partner Moody’s Analytics that the private sector added 200,000 in July and that June’s hiring was 10,000 better than initially reported, the total new jobs created in the last 60 days is 398,000. keep reading…

The Unemployment Bias: The Long-term Unemployed Face Severe Discrimination

by Jul 30, 2013, 5:55 am ET

Last year I did some work for a large company that decided it would not hire anyone who was unemployed. It would automatically reject any candidate who had been unemployed even for a day. As I’ve learned, this attitude toward candidates is pervasive — many employers seem to have concluded that the long-term jobless are damaged goods. keep reading…

Fed Reserve Economists Say Two More Years Before We Get Back to ‘Normal’

by Jul 22, 2013, 1:56 pm ET

fed reserve labor market chartUnless new economic shocks should upset the rate of improvement, it will take at least two more years before the U.S. labor market returns to its historic norms.

Crunching together 23 different labor market indicators, two economists with the sometimes-contrarian Federal Reserve Bank of Kansas City said that though the rate of change is well above the average of the last 20 years, it hasn’t translated into an equivalent rate of improvement in labor market conditions.

What that means is that despite the acceleration in job creation, temp hiring, job availability, and other labor market measures, the national unemployment rate will continue to decline only slowly. keep reading…

Employers Expect No Change in Hiring of Permanent, Fulltimers, But More Plan to Add Temps

by Jul 11, 2013, 5:44 pm ET

CareerBuilder forecast 7.2013The number of employers planning to hire full-time permanent workers by the end of the year is unchanged from a year ago, though the number expecting to bring on temporary workers is up by half, says CareerBuilder’s mid-year hiring forecast.

The just released CareerBuilder forecast, based on a survey of 2,000 hiring managers and HR professionals conducted six weeks ago, found:

  • 44 percent of employers plan to hire full-time, permanent employees, on par with last year;
  • 25 percent plan to hire part-time employees, up from 21 percent last year;
  • 31 percent plan to hire temporary or contract workers, up from 21 percent last year

The optimism, however, doesn’t necessarily translate into immediate hiring plans. Only 30 percent of the respondents said they expected to add to their full-time, permanent headcount this quarter. That’s identical to what the survey respondents said a year ago, and is off from the 34 percent adding full-time headcount last quarter. keep reading…

New Rite of Passage for Teens: Summer Unemployment

by Jul 10, 2013, 6:05 am ET

Summer teen hiring 2013A summer job used to be one of those rites of passage for teenagers. Like moving from middle school to high school, and Pop Warner to varsity, working at the local mall, or lifeguarding at the city pool has for many teens become as rare as a drive-in movie.

Though outplacement firm Challenger, Gray & Christmas says the 2013 teen hiring season could still equal last year’s 1.397 million, it would take a July surge not seen since 2010. That July, 457,000 teens between 16 and 19 found jobs, a number tempered by such a slow May hiring month that 2010 saw the fewest teenagers in the decade to find jobs.

“In 2010, employers added just 960,000 16- to 19-year-olds over the entire summer hiring period from May through July,” says John Challenger,  CEO of the global firm. “Hiring has already surpassed that level this year and, if history is any indication, teen employment is likely to grow by another 300,000 to 400,000 in July.” keep reading…

U.S. Added 195K Jobs in June; Unemployment Unchanged at 7.6%

by Jul 5, 2013, 9:43 am ET

Econ indices June 2013For the second consecutive month, the U.S. created 195,000 new jobs last month, well above economists estimates and breaking the summer hiring slowdown that has bedeviled the economy since the beginning of the recession.

The U.S. Department of Labor, which released its monthly employment report this morning, also adjusted upward its job counts for April and May, saying 70,000 more non-farm jobs were created than initially reported. The unemployment rate held steady at 7.6 percent.

Surveys of economists over the last week put their average estimates of June’s new jobs at about 165,000. Many had expected the unemployment rate to decline slightly, but an influx of new workers into the labor force last month held the rate steady.

Robert Murphy, an economics professor at Boston College, told ABC News that this morning’s jobs report “is good news that the recovery may now be on a sustained path.” keep reading…

ADP Report Raises Hopes Economy Can Avoid Summer Hiring Slowdown

by Jul 3, 2013, 12:50 pm ET

ADP sector changes June 2013ADP’s National Employment Report this morning that 188,000 new private sector jobs were created last month is giving rise to hopes the summer slowdown that has so bedeviled the U.S. economy the last several years may not return this year.

That would be good news indeed, since the last three summers have seen job growth numbers plummet. Two years ago, job growth averaged 184,000 monthly for March, April, and May. For the summer months of June, July and August, the average was 88,000. Last year was better; the summer decline was only 12,000 jobs. keep reading…

Temp Industry Creating Jobs at 5 Times National Pace

by Jun 11, 2013, 4:24 pm ET

Temp Workers 2000-2013With the addition of 25,600 temp workers to the nation’s payroll in May, there are now more workers employed as temps than at any time since before the start of the 21st century.

The U.S. Bureau of Labor Statistics reported last week that on a seasonally adjusted basis some 2,679,800 people were employed as temporary workers in the U.S. last month. In the last year, the temp sector has averaged 15,500 new hires a month. Since the recession ended in June 2009, the average is just over 16,000 a month.

On a non-seasonally adjusted basis, temp workers numbered 2,659,300 in May, not far off from the record 2,767,300 temps working in October 2006. keep reading…

Today’s, and This Week’s, Jobs Numbers Offer Good News

by Jun 7, 2013, 8:49 am ET

Screen Shot 2013-06-06 at 9.30.34 PMToday’s jobs report was supposed to be the “most important in years.” But if I’ve learned anything from watching and reading so many years of monthly-jobs-report commentaries, it’s not to get too worked about any one month of these things. Three-month averages, perhaps.

Nonetheless, it was good to see the economy meet and slightly exceed expectations, as this morning’s numbers from the U.S. Bureau of Labor Statistics showed an increase in 175,000 jobs. The expectation was for about 165,000-170,000. The unemployment rate was up but just slightly, to 7.6 percent. Last month’s numbers were revised downward slightly.

The upshot of all this is that the jobs news is not off-the-charts wonderful, but pretty good.

That has been the story throughout this week, if you had to look at all the data coming out and draw conclusions. The ADP report this week was a bit underwhelming. So was Gallup’s data that “fewer people worked full-time for an employer this May compared with a year ago.” But, other recent reports are mildly optimistic: keep reading…

3 Reasons to Be in Good Spirits About the Job Market

by May 14, 2013, 1:07 pm ET

Screen Shot 2013-05-14 at 9.45.07 AMYou know what’s been happening seemingly every year, the last several: we start out the year talking about how the economy and job market are improving, and then as the year goes on, we start talking about how they are not.

Perhaps that won’t be the case this year, says Toby Dayton, from the job search engine LinkUp. Dayton is “cautiously optimistic” about a decent second, third, and fourth quarter of 2013.

Dayton, speaking at the Recruiting Innovation Summit in San Francisco, gives these three reasons for his optimism, based on LinkUp’s data showing growth in job posts and recruitment advertising: keep reading…

April’s 165,000 Jobs Growth Shows Recovery Demise “Grossly Exaggerated”

by May 3, 2013, 9:45 am ET

Econ index April 2013After a mediocre jobs report from ADP on Wednesday, and the government’s own anemic March report last month, economists and the financial markets were hoping today’s report on April employment would make it at least into six digits.

No worries. The report from the U.S. Department of Labor this morning said 165,000 new non-farm jobs were created last month, while the unemployment rate declined slightly to 7.5 percent, even as the size of the workforce ticked up slightly. (It is still lower than at any time in more than three decades.)

The government also adjusted up its initial numbers for both February and March, increasing the new job estimates by a combined 114,000. With the revisions, job growth in the first quarter totaled 618,000. That’s just slightly behind the 208,000 monthly average during all of last year.

The April job growth was better than analysts were expecting. Before the release in Washington, surveys of economists showed them expecting job growth to be in a range between about 125,000 and 155,000. keep reading…