U.S. Economy Added 176,000 Private-Sector Jobs in August

[Cigar]

http://www.adpemploymentreport.com/2013/August/NER/images/infographic/thumbnail/NERAugust2013infothumbnail.gif

Highlights



Small businesses (1-49 employees) +71,000
Medium businesses (50-499 employees) +74,000
Large businesses (500 or more employees) +32,000



September 5, 2013 – Private sector employment increased by 176,000 jobs from July to August, according to the August ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. July’s job gain was revised down slightly from 200,000 to 198,000.

Goods-producing employment rose by 11,000 jobs in August, at roughly half the growth rate of the previous month. Construction payrolls added 4,000 jobs, while manufacturing payrolls increased by 5,000, rebounding from a decline in July.

Service-providing industries added 165,000 jobs in August, down from 176,000 in July. Gains were broad-based across industries. Among the service industries reported by the ADP National Employment Report, professional/business services added the most jobs with 50,000 over the month. Trade/transportation/utilities services saw an increase of 40,000 jobs, while financial activities showed a modest gain of 1,000 jobs, the category’s smallest monthly increase since June of 2012.

"The U.S. private sector added 176,000 jobs in August, as companies of all sizes expanded their payrolls over the previous month," said Carlos A. Rodriguez, president and chief executive officer of ADP. “The August job gains are in line with the monthly average over the last 12 months.”

- See more at: http://www.adpemploymentreport.com/2013/August/NER/NER-August-2013.aspx#sthash.hecxr7zE.dpuf

[Ravi]

Wait, haven't the Republicans been saying business isn't hiring because of health care reform?

[Cigar]

Wait, haven't the Republicans been saying business isn't hiring because of health care reform?

They also said Obama would send Gas prices up to $6.00 per gallon. :rollseyes:

[zelmo1234]

Did you look at the number? Really look at Cigars post!

11,000 of them were in manufacturing

165,000 in the service sector? (much of which will be PART TIME)

http://money.cnn.com/2012/05/04/news/economy/obama-reagan-recovery/index.htm

Keep in mind that Reagan had about half of the work force as today, and yet he had sustained growth of over 300,000 jobs per month! and they were good paying jobs!

That is what recovery looks like?

We should be thankful for any job creation, but to say this is a robust recovery is just not true!

[Cigar]

Did you look at the number? Really look at Cigars post!

11,000 of them were in manufacturing

165,000 in the service sector? (much of which will be PART TIME)

http://money.cnn.com/2012/05/04/news/economy/obama-reagan-recovery/index.htm

Keep in mind that Reagan had about half of the work force as today, and yet he had sustained growth of over 300,000 jobs per month! and they were good paying jobs!

That is what recovery looks like?

We should be thankful for any job creation, but to say this is a robust recovery is just not true!

So now they are saying the Economy is not Robust enough ... :smiley_ROFLMAO:

How many Filibusters did Reagan have to deal with?
Did Reagan have to deal with an Economic Crash?

[zelmo1234]

So now they are saying the Economy is not Robust enough ... :smiley_ROFLMAO:

How many Filibusters did Reagan have to deal with?
Did Reagan have to deal with an Economic Crash?

I don't think that anyone would say that the economy is robust? would you?

And yes Reagan did take over a collapsed economy! You may not remember but imagine interest rates on home at 13%+

Unemployment at 12%

He had to get the dollar back on track and that caused massive inflation, just like the next real leader will have to do, But it worked and in the long run created the longest peacetime growing economy in the history of the USA?

By the the way cigar, are more people working today, than when Obama took office?

[paul alan]

(http://money.cnn.com/2012/05/04/news/economy/obama-reagan-recovery/index.htm)
Keep in mind that Reagan had about half of the work force as today, and yet he had sustained growth of over 300,000 jobs per month! and they were good paying jobs!




Keep in mind Reagan tripled the Federal debt in his insane money war with the USSR .... crashed the markets .... put the S & L banks out of business ... and created the 2nd worst recession in U.S. history.

But Conservatives loved this fool because he spouted the idiocies of Conservatism.

:)

[Ransom]

Wait, haven't the Republicans been saying business isn't hiring because of health care reform?

Wait, haven't you lost sheep been saying GOP refusal to raise taxes and forcing the sequester was killing the economy?

Oops.

Proven to be full of shat again, the GOP credited with these numbers. Not allowing Obama to raise taxes, insisting on budget cuts.

[Ransom]

Realizing of course....176,000 is tepid at best.

[BB-35]

Keep in mind Reagan tripled the Federal debt in his insane money war with the USSR .... crashed the markets .... put the S & L banks out of business ... and created the 2nd worst recession in U.S. history.

But Conservatives loved this fool because he spouted the idiocies of Conservatism.

:)

It worked on the USSR,didn't it?

Who's the fool?

[Cigar]

US Service Firms Expand At Fastest Pace In 8 Years
Companies in the U.S. service sector expanded at their fastest pace in nearly 8 years last month as sales and orders grew and employers ramped up hiring.

The Institute for Supply Management said Thursday that its service-sector index rose to 58.6 in August from 56 in July. It's the highest point since December 2005. Any reading above 50 indicates expansion.

A measure of hiring rose to 57, the most in six months. That's an encouraging sign for the job market because the service sector employs 90 percent of the U.S. workforce, including retail, construction, health care and financial services.


Consumers appear to be spending more at auto dealerships, retailers, hotels and restaurants. The housing recovery is also spurring growth in real estate.

Read more: http://www.postbulletin.com/business/us-service-firms-expand-at-fastest-pace-in-years/article_6f0b37f0-1644-11e3-b219-0019bb30f31a.html

:grin:

[Cigar]

American Auto Earnings Show Signs of Beating Best of 90s
The 17 percent surge in U.S. auto sales last month pushed the annual rate to a pre-recession, boom-time level. Even more significant, Detroit automakers are reaping profits not seen since the turn of the century.

Sales totaled 1.5 million in August, the most in one month since May 2007. What’s more, the automotive comeback crossed an important milestone as the industry’s annual selling rate reached 16.1 million, the fastest since October 2007 and a volume that signifies a robust car market.

As the fifth anniversary of the collapse of Lehman Brothers approaches, Detroit has come full circle, from bankruptcy to boom. General Motors Co. (GM), Ford Motor Co. (F) and Chrysler Group LLC combined to earn $13.5 billion last year, even as industry sales were 17 percent below the peak of 17.4 million set in 2000. Those fatter profits come from trimmer companies that radically restructured operations, shed debts and overhauled their lineups to field their most competitive cars in a generation.

“Any question that the industry is back should be put to rest,” said Jeff Schuster, auto analyst for researcher LMC Automotive. “In 2007, there was no margin on cars; the Detroit Three were giving them away. Now we’re seeing a much different environment, where they’re much more competitive.”

more...

http://www.bloomberg.com/news/2013-09-05/american-auto-profits-showing-signs-of-beating-90s-best.html

:grin:

[AmazonTania]

312,000 people left the labour force last month...

[Agravan]

312,000 people left the labour force last month...

This is where Cigar will respond with something along the lines of: "Obama can't do anything if people choose to retire."

[AmazonTania]

This is where Cigar will respond with something along the lines of: "Obama can't do anything if people choose to retire."

Perhaps not, but there are very few indicators which shows that surge in the number of people out of the labour force are due to people retiring. Even when compared to nations with similar characteristics, such as Canada.
http://research.stlouisfed.org/fredgraph.png?g=mdh


I does, on the other hand, explain the increasing number of SSDI participants within the past few years.

[Chris]

312,000 people left the labour force last month...

According this this, An alarming jump in 'job losers' (http://money.cnn.com/2013/09/06/news/economy/job-losses/index.html?iid=HP_Highlight), "There was a 208,000 increase in job losers in August, the biggest jump recorded since November 2010."