Tag Archives: jobs
Employment Surprise to the Upside; Unemployment Rate at 5-Year Low
Payroll employment rose by 165,000 in April, a slight upside surprise. More importantly, data for February and March were revised up significantly, providing some reassurance that the economy will be resilient if not robust in the second quarter.
ADP Jobs Numbers Disappoint
The ADP report on payroll employment rose a disappointing 119,000 in April while the total for the month of March was revised down. Small firm employment was much weaker than in the past, likely in response to persistently bad weather in April. Many lawn care companies complain that they haven’t been able to work a [...]
Weekly Jobless Claims Near 5-year Low
Weekly jobless claims (see blue line in chart below) declined by 16,000 for the week ended April 20. That is the lowest level since the beginning of March and near the lowest level since January 2008. The more important, 4-week moving average (see green line in chart below), which smoothes out one-off factors, also headed lower, down [...]
Cold March Puts Chill on Job Creation
Nonfarm payroll employment rose a dismal 88,000 in March, well below expectations. Job losses were heavily concentrated in areas affected by cooler-than-usual March weather. Retailers who couldn’t sell spring merchandise decided to lay off workers and are now offering discounts; building and garden stores cut workers as spring planting and lawn work was delayed; and, [...]
ADP Employment Report Disappoints
ADP private payroll employment increased by 158,000 in March, well below the 200,000 expected by most in the financial markets. Small business employment accounted for about half of the gains; medium and large-sized firms essentially split the rest. Service sector jobs accounted for the bulk of gains, something which continues to worry the Federal Reserve; [...]
Employment Surprises to Upside
Payroll employment jumped 236,000 in February, well above market expectations, but net job gains for the previous two months were revised down. Private sector jobs rose 246,000, underscoring a sense that the recovery is finally gaining some momentum. The imprint of a stronger housing market was all over the report. Construction employment rose by 48,000 [...]
ADP Employment Strong; Mortgage Applications Surge
ADP private sector employment posted gains of 198,000 in February, along with upward revisions for the month of January. Gains were concentrated in small businesses, which in the ADP report represent more business startups than we see in the initial cut in data for monthly employment collected by the government. We are also seeing direct [...]
Labor Market Continues to Heal Unevenly
Non-farm payrolls rose 157,000 in January, which was less than expected. Benchmark revisions, however, showed that we created significantly more jobs in 2012 than initially reported: some 127,000 more in the last two months of the year alone. Total job gains in 2012 were 2.1 million, some 335,000 more than initially reported for the year. [...]
December Employment Gains: Not Enough
Payroll employment increased by 155,000 jobs in December, after being revised up in November. Private sector jobs rose 168,000. Losses in education (teachers) continued while postal workers look like they are beginning to take retirement ahead of major budget cuts coming in 2013. Overall job creation in 2012 was little changed with only five thousand [...]
Bloomberg asks Diane Swonk to explain Fed concern over unemployment
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