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Posts Tagged ‘Mark Zandi’

ADP Hiring Report Shows Promising Signs for Job Market

job searchThis morning’s report by ADP shows positive signs for the job market. That’s because the U.S. economy created 220,000 brand new private sector jobs this past month. This number reflects 10,000 more jobs than analysts originally anticipated.

In addition, the report increased the number of jobs in March’s report by 18,000.

Per a piece in USA Today, chief economist at Moody’s Analytics Mark Zandi explained, “The job market is gaining strength. The recent pickup in job growth at mid-sized companies may signal better business confidence.”Strength indeed. April’s increase was the biggest one since this past November when ADP revealed 245,000 new private sector jobs. And, per the report, large and small companies boosted their headcount in April.

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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.”

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

ADP Jobs Report Says Hiring’s on Hold; Stormy Weather Impacts Hiring

ImproveJobProspectsAs the stock market dropped the past few weeks apparently per ADP’s new report, hiring does not have such a sunny outlook either.

Per their report, the private sector added 175,000 jobs in January. The significance of this number? It’s the weakest month for hiring since August. Usually in January there seems to be an uptick since December slows down due to the holidays but ADP reported 227,000 new jobs in December.

Mark Zandi, chief economist at Moody’s Analytics, alluded to weather having an impact on hiring.

He told CNN, “Cold and stormy winter weather continued to weigh on the job numbers.” He pointed out that underlying job growth still remains “sturdy” and he’s expecting a breakout year.

Many Americans Set to Lose Extended Unemployment Benefits

Here’s a staggering thought: Approximately 2.1 million Americans are set to lose their extended unemployment benefits on December 29 if the folks in Washington don’t renew them. This is part of a package deal related to tax increases and spending cuts better known as the fiscal cliff.

That’s not all — as per the National Employment Law Project (NELP), an additional 930,000 Americans are going to run out of unemployment insurance early in the new year when their 26 weeks expire. (During the recession, the federal government provided up to 73 weeks of jobless benefits in addition to the 26 weeks most states were able to provide.) Read more

The Capital Boasts Highest Salaries While Most City Incomes Fall

If you want to make some money head to the nation’s capital, that’s because according to the annual report of city incomes, the DC area holds the highest average household income in the country. Residents have a medium household income of just more than $85,000.

Not only that, but it’s only one of two cities in the top 52 largest areas (cities with population over 1 million) that saw a flat or improved income level in 2009. San Antonio was the only other city that didn’t post a loss in average income, growing .5 percent from 2008 levels.

“This goes to how broad-based the downturn was,” said chief economist of Moody’s Analytics Mark Zandi to CNNMoney. “During other recessions, a region or two avoided the recession. This time, none did.”

Zandi went on to credit the regulatory environment for the stability in DC income levels, as more businesses move into the area to support the new laws. Of the cities showing the most declines in income, poor Detroit came in at the top of the list with a 10 percent drop, according to the Census Bureau report. Orlando also nearly saw a 10 percent drop in income, while Cleveland fell 8.5 percent.