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economicdata RSS feed Tag: economicdata

Worst Job Growth in Two Years Stuns Analysts

by 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 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 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 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 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 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…