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Private sector hiring strongest in a year
Wednesday, December 4, 2013 10:41 AM
NIKI2
Gettin' old, but still a hippie at heart...
Quote:Here's something to be merry about this holiday season: Private sector employers added 215,000 jobs in November. That's the strongest level of hiring in a year, according to payroll processing firm ADP. The ADP jobs report also showed that small businesses (those with fewer than 50 employees) accounted for 102,000 of the new jobs, while large businesses with more than 500 employees added 65,000 positions. Hiring picked up in construction, manufacturing and the financial sector. "Those are high-paying and middle income jobs," said Mark Zandi, chief economist of Moody's Analytics, which helps compile the ADP report. "That's very positive news." The jobs data collected by both ADP and the Labor Department has been improving in the past few months, despite other indicators which show economic growth still remains slow. "I would have expected job growth to be no more than 150,000 per month, but it's held up much better than that," Zandi said. It will probably take another two or three months of strong job growth to convince officials at the Federal Reserve that hiring above 200,000 jobs each month is here to stay, Zandi said. The Fed is looking for substantial improvement in the job market before it will be ready to begin slowing, or tapering, its monthly bond purchases that are aimed at stimulating the economy. The ADP report is closely watched by economists and investors, as it comes just two days before the Labor Department's monthly jobs report -- which also includes data on government jobs. Economists surveyed by CNNMoney predict the monthly jobs report will show employers added 183,000 jobs and the unemployment rate fell to 7.2% in November. http://money.cnn.com/2013/12/04/news/economy/adp-jobs-report/index.html?hpt=hp_t2
Thursday, December 5, 2013 11:09 AM
6IXSTRINGJACK
Friday, December 6, 2013 10:18 PM
SHINYGOODGUY
Saturday, December 7, 2013 1:41 PM
Quote:Unemployment drops to 7%; 203,000 jobs added in November The U.S. economy added a better-than-expected 203,000 jobs in November, sending the unemployment rate down to 7 percent, the Bureau of Labor Statistics said on Friday. Economists had expected the government to report about 180,000 new jobs, down from an initially reported 204,000 in October. The unemployment rate had been expected to decline a notch to 7.2 percent from 7.3 percent. Total joblessness fell below 11 million for the first time since November 2008, while total employment swelled by 818,000 as furloughed federal workers went back to work after the government shutdown. The employment rolls had tumbled by 735,000 in October. Broadly speaking, the November report was consistent with the past year, which has seen an average 195,000 new jobs per month. The biggest employment gains came in professional and business services (35,000), transportation and warehousing (31,000) and health care, which added 28,000. Manufacturing contributed 27,000 new positions and retail was up 20,000. Earnings notched higher by 4 percent to an average $24.15 an hour while the work week rose one-tenth to 34.5 hours. http://www.nbcnews.com/business/unemployment-drops-7-november-2D11702854]
Quote:The BLS unemployment measure does not include people who have been out of work for 12 months. It does not count “discouraged” workers who have given up looking for a job. It does not count people who are underemployed, such as PhD microbiologists working as nannies. http://www.csmonitor.com/USA/DC-Decoder/Decoder-Wire/2013/1206/Unemployment-rate-drops-how-to-read-Friday-s-jobs-report
Saturday, December 7, 2013 2:30 PM
WHOZIT
Saturday, December 7, 2013 2:43 PM
Quote:Despite the October-to-November increase in the number of people working for government in the United States, the 20,064,000 working for government this November was still fewer than the 20,598,000 who worked for the government in November 2012. http://cnsnews.com/news/article/terence-p-jeffrey/41-net-new-jobs-november-were-government#sthash.fQeR2HKH.dpuf]
Quote:Analysis: Friday's report confirms jobs recovery is solid, steady The numbers, taken together, don’t point to a huge acceleration in the pace of growth. Indeed, the three-month average rate of job creation, at 193,000 positions a month, has been higher at several points in recent years (winter 2013, winter 2012, spring 2011, spring 2010). But it was not that long ago — October, to be precise — that there was real reason to wring one’s hands and fear that tighter fiscal policy was causing the recovery to peter out entirely. And that was before factoring in any damaging effects to business and consumer confidence owing to the government shutdown and debt-ceiling standoff. With solid October and November jobs readings in the bag, we can set those fears aside. The numbers amount to confirmation that the jobs recovery remains under way, is well-entrenched, solid and steady. http://seattletimes.com/html/businesstechnology/2022413475_jobsanalysisxml.html
Saturday, December 7, 2013 3:45 PM
Quote:Originally posted by Niki2: Funny you neglected to mention that Quote:Despite the October-to-November increase in the number of people working for government in the United States, the 20,064,000 working for government this November was still fewer than the 20,598,000 who worked for the government in November 2012. http://cnsnews.com/news/article/terence-p-jeffrey/41-net-new-jobs-november-were-government#sthash.fQeR2HKH.dpuf] Of COURSE there's an increase in hiring in city, state, local and federal governments around the country. The economy improving = more taxes = governments' ability to bring back some of those they had to lay off during the recession. And there's all those people who were laid off during the shutdown who have come back. But the growth has been relatively steady, leading to analysts saying we're on the right track:Quote:Analysis: Friday's report confirms jobs recovery is solid, steady The numbers, taken together, don’t point to a huge acceleration in the pace of growth. Indeed, the three-month average rate of job creation, at 193,000 positions a month, has been higher at several points in recent years (winter 2013, winter 2012, spring 2011, spring 2010). But it was not that long ago — October, to be precise — that there was real reason to wring one’s hands and fear that tighter fiscal policy was causing the recovery to peter out entirely. And that was before factoring in any damaging effects to business and consumer confidence owing to the government shutdown and debt-ceiling standoff. With solid October and November jobs readings in the bag, we can set those fears aside. The numbers amount to confirmation that the jobs recovery remains under way, is well-entrenched, solid and steady. http://seattletimes.com/html/businesstechnology/2022413475_jobsanalysisxml.html Or is that too complex for you to understand? I realize your right-wing internet is going absolutely NUTS with that 41% figure, but if you were capable of thinking for yourself, you know, using your BRAINS (perish the thought!)...
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