U.S. Companies Added 325,000 Jobs: ADP
Companies added more workers than forecast in December, a sign that the U.S. labor market was gaining momentum heading into 2012, according to a private report based on payrolls.
The 325,000 increase was the highest in records going back to 2001 and exceeded the highest projection in a Bloomberg News survey after a revised 204,000 gain the prior month, the report from the Roseland, New Jersey-based ADP Employer Services showed today. The median estimate called for an advance of 178,000.
An acceleration in hiring may spur further gains in consumer spending, which accounts for about 70 percent of the worlds largest economy. A Labor Department report tomorrow may show payrolls rose by 150,000, not enough to keep the unemployment rate (USURTOT) from rising to 8.7 percent, economists in a Bloomberg survey projected.
We certainly are seeing resilience in the job market, said Sean Incremona, a senior economist at 4cast Inc. in New York. Weve seen some improvement versus earlier in 2011 and its encouraging.
MORE...
http://www.bloomberg.com/news/2012-01-05/u-s-company-payrolls-expanded-by-a-more-than-estimated-325-000-adp-says.html
zipplewrath
(16,646 posts)Heard on the radio a little factoid that bodes well for Obama. The government layoffs of teachers and other civil servants has basically ended. The budgets have stabilized and so are the employment levels. Obvious exceptions here and there, but this overall trend is happening at the same time that the private sector is beginning to hire/rehire.
titaniumsalute
(4,742 posts)They had laid off so many bus drivers in the past few years they had to hire about 50 of them this school year to accomodate the students. In addition, they had to hire something like 250 new teachers just to accomodate the shortages.
TheWraith
(24,331 posts)And if confronted with 20 straight months of private sector job growth, they'll insist that those jobs "don't count" because there's never more than 150,000 of them.
DCBob
(24,689 posts)Not sure what it will take to convince them we are recovering.
Hell Hath No Fury
(16,327 posts)but there are some potential problems. This jobs info is from ADP not the government:
This huge purge of workers is beyond the scope of normal seasonal adjustment, DAntonio, an economist at Citigroup Global Markets Inc. in New York, said in a research note before the report. So the ADP folks have to make huge assumptions for December that often widely miss the mark.
ADPs initial figures for November showed a 206,000 gain, while the Labor Departments data two days later registered an increase of 140,000 in private payrolls for the month.
dixiegrrrrl
(60,010 posts)KansDem
(28,498 posts)By Ed Garvey
Are you sick of it yet? You know: JOBS, JOBS, JOBS. Every program, silly or serious, is introduced with the line this will create jobs.
Jobs, jobs, jobs to justify the cost of another tax break for the rich or a new appointment. Everything espoused by the tea partiers will, we are told, create more jobs. But, as Tom Harkin pointed out years ago, slaves had jobs. We want good jobs with benefits and wages that can support a family.
Governor Scott Walker promised to create 250,000 permanent, family-supporting jobs in four years. If the poverty level is $22,000 for a family of four, we assume that a family-supporting job is roughly twice that amount. How did Walker kick off his mission? By killing a couple thousand high-speed rail jobs; watching Kohler cut 300 jobs, terminating 400 people at the Commerce Department. Some start.
On FightingBob.com, we are keeping a tally on Walker-created jobs. Walker our man of La Mancha must create 177 jobs every day, weekends included, to reach his goal. He is down more than 6,000 jobs at this point, so he had better get moving.
--more--
http://www.fightingbob.com/article.cfm?articleID=1263
Are these good-paying, family-supporting jobs? And are they permanent?
Marrah_G
(28,581 posts)I'm just not seeing it. My job depends on a healthy middle class.
Shit, I would just like business pick up enough so I could go back to full time and be able to quit my soul-sucking minimum wage retail cashier night job.
jpak
(41,757 posts)Too bad Doomers and the GOP...
yup
Mustn't encourage a stark appraisal of our distressed global economy! Must be GOOD little sheeple, and lap up those lovely 'gradual recovery' red herrings!
hmm... I think the above commentary is no more helpful than your condescending snark...
valerief
(53,235 posts)AllyCat
(16,174 posts)and while wide from his 250,000 mark, he sure helped out with some outsourcing to CA and other locales wide from Wisconsin.
workinclasszero
(28,270 posts)Man if the economy takes off this year the president will have reelection on lockdown!
RC
(25,592 posts)Jobs with benefits? Permanent jobs? Full time jobs?
Only one of the above? Or all of the above?
Purveyor
(29,876 posts)Any paycheck is welcomed.
RC
(25,592 posts)Do you really want to spend the rest of your life doing part time, minimum wage jobs to survive?
Yeah, it really does matter.
JDPriestly
(57,936 posts)But at least it is a move in the right direction.
Purveyor
(29,876 posts)unless the price of oil spikes.
The neocons are so hoping for this hence their giddiness over a military strike on Iran.
Sherman A1
(38,958 posts)I would stay it's a start, but really nothing beyond that. There is simply too much negative economic news and one only need look at the price of gasoline as they pass by a station to begin informing themselves that things are not particularly good.
Fuddnik
(8,846 posts)I've found that they are consistently wrong, toward the sunny side, every...single...month.
Why anyone would pay for their information is beyond me. Check the official results tomorrow.
jpak
(41,757 posts)tclambert
(11,085 posts)which is still good, above the 100K we need to keep up with population growth. They say they expect the official unemployment rate to go UP to 8.7%. Apparently, they expect the labor force to grow more than normal this month. Hmm, December college graduates, maybe? It's hard to fathom all the adjustments and manipulations in these figures.
Fuddnik
(8,846 posts)And I'm not talking about whether I'd be disappointed or not. Just pointing out a fact that I've observed, month after month for years.
NewJeffCT
(56,828 posts)whereas the Labor Dept considers both private and public (govt) employment
Which is which then.....what happens when you chart one of them?
http://www.adpemploymentreport.com/ner/charting.aspx
?634614387973615066
And here's a long term indepensdent review showing changes by month from both sources rather than total (no cheating - these are labeled series)
http://seekingalpha.com/article/278674-adp-vs-bls-correlating-the-labor-reports
alp227
(32,015 posts)and other posters are suggesting to be skeptical of this firm's figures.
quiller4
(2,467 posts)I live in Washington state. Boeing added jobs in Auburn, Everett, Fredrickson and Renton. According to articles in the Everett Herald and the Puget Sound Business journal, Boeing has hired an average of 100 new workers in the region every week since April 2011. Boeing is hiring through its IAM Joint Apprenticeship Program, too. Apprentice wages begin at $11 hr and rise to $18.57 but most of the hiring has been at Labor Grade 7 or above with the average new hire starting at $22.50.
Boeing subcontractors are hiring, too.
2011 is the second consecutive year to register employment growth in the manufacturing sector. We haven't had two consecutive years in growth in manufacturing since the late 80s.
Skittles
(153,141 posts)now keep going!!!
MjolnirTime
(1,800 posts)Botany
(70,483 posts)and now we have been adding jobs jobs every month for the past 23 months?
We still have a long way to go but this really puts the bee in the republican's
talking point bonnet.
Dropping 700,000 jobs per month or adding 325,000 jobs per month which
would you rather have?
HughBeaumont
(24,461 posts). . . even though, policy-wise, not much has changed since Bewsh. We still have a ways to go, but any good news is reassuring to most struggling Americans.
Now that the economy is showing positive signs, the reasoning for further extending the $2 trillion-costing tax cuts for the wealthy (like the 1%er Repubs want) becomes weaker and weaker.
See this? >
This is the world's most microscopic tear being shed for their plights.
bigwillq
(72,790 posts)humblebum
(5,881 posts)over the holidays?
bvar22
(39,909 posts)Perot said that jobs would return to the USA,
....when wages and benefits in the US fell to 3rd World standards.
Ross was right.
You will know them by their WORKS,
not by their excuses.
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