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Posts Tagged ‘ADP’

Good News! ADP Report Shows Uptick in Hiring

job searchWhile we’re awaiting the Department of Labor’s job report, there’s good news on the hiring front. According to payroll processor ADP, businesses have added 191,000 jobs in March — not too shabby!

This shows the job market may have bounced back from a weak winter and bad weather which significantly impacted businesses across the country.

According to a piece in USA Today, economists had forecasted a gain of 189,000 jobs in the ADP report. The same economists are expecting 195,000 gains according to the government’s report covering business, federal, state and local government jobs.

Mark Zandi, chief economist at Moody’s Analytics, explained in the piece, “The job market is coming out from its deep winter slumber. Even better numbers are likely in coming months as the weather warms.”

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ADP Report Reveals Slow Job Movement in February

ImproveJobProspectsThe monthly jobs report will be released this Friday by the Department of Labor but if ADP’s news is any indication, it won’t exactly be strong.

Per a private report based on various payrolls, companies apparently added less workers in February than experts initially projected. Read more

Economists Anticipate “Tepid” Monthly Job Reports Tomorrow

According to a report issued by ADP, businesses added 119,000 jobs during the month of April — not exactly great news since the jobs report will be released tomorrow. As reported by CNN Money, economists were anticipating growth of 170,000 jobs.

So, what does this mean with the soon-to-be-released monthly jobs report? There’s a slight slowdown since 201,00 jobs were added in March and 228,000 jobs were added in February, as per the same report.

Joel Prakken, Macroeconomic Advisers chairman, thinks it’s a lukewarm statistic. He told CNNMoney, “Those employment gains are not enough to get us back to full employment. I don’t consider this to be a good number. It’s tepid.”

CNNMoney anticipate the data tomorrow will reflect 160,000 additional jobs in April which represents 165,000 from the private sector minus approximately 5,000 government jobs. Assuming the number of people in the work force remains the same, the unemployment rate will likely not dip below the current rate of 8.2 percent, says the piece. Until the report is issued tomorrow, however, we won’t have exact numbers. Stay tuned…