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Cigar
03-05-2014, 09:04 AM
Source: ADP®, Automatic Data Processing

U.S. Economy Added 139,000 Private-Sector Jobs in February, According to ADP National Employment Report.

ADP NATIONAL EMPLOYMENT REPORT: PRIVATE SECTOR EMPLOYMENT INCREASED BY 139,000 JOBS IN FEBRUARY

ROSELAND, N.J. –March 5, 2014 –Private sector employment increased by 139,000 jobs from January to February according to the February 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.

Goods-producing employment rose by 19,000 jobs in February, up from a downwardly-revised figure of 12,000 in January. Nearly all of the growth came from the construction industry which added 14,000 jobs over the month; this followed downwardly revised increases of 17,000 in the prior two months. Manufacturing eked out a small gain in February adding just 1,000 jobs. January’s decline in manufacturing was upwardly revised to a loss of just 7,000 jobs.

Service-providing industries added 120,000 jobs in February, up from a downwardly-revised January figure of 116,000. The ADP National Employment Report indicates that professional/business services contributed the most to growth in service-providing industries, adding 33,000 jobs. This was well below the average gains for the industry in 2013. Expansion in trade/transportation/utilities accelerated slightly after a poor showing in January, gaining 31,000 jobs in February. Financial activities employment fell for the second straight month after January’s reading was downwardly revised to an 8,000 job loss. These two months have been the weakest for financial services employment since January and February of 2011.

"The U.S. private sector added 139,000 jobs in February, well below the average over the last 12 months,”said Carlos Rodriguez, president and chief executive officer of ADP. ... Mark Zandi, chief economist of Moody’s Analytics, said, "February was another soft month for the job market. Employment was weak across a number of industries. Bad winter weather, especially in mid-month, weighed on payrolls. Job growth is expected to improve with warmer temperatures.”

Change in Nonfarm Private Employment (in thousands)
http://www.adpemploymentreport.com/2014/February/NER/images/charts/Change-in-Nonfarm-Private-Employment-February-2014.gif

Historical Trend - Change in Total Nonfarm Private Employment (in thousands)
http://www.adpemploymentreport.com/2014/February/NER/images/charts/Historical-Trend-Change-in-Total-Nonfarm-Private-Employment-February-2014.gif

Read more: http://www.adpemploymentreport.com/2014/February/NER/NER-February-2014.aspx


Another Month ... Another Positive Trend ... I don't know about you, but I've lost count how may. :grin:

Paperback Writer
03-05-2014, 09:24 AM
So now you only have what? Some 30 million to go to catch up to where you were a decade ago? I know what works, create some kind of bubble and then manufacture another war.

:roflmao:

AmazonTania
03-05-2014, 10:16 AM
The market doesn't pay attention to the trends. They pay attention to the expectations. The market expected 155K ADP Payroll prints, instead we got 139K payroll prints. The purpose of these expectations is to gauge the performance of the economy and determine whether or not current economy policy is effective, which obviously, it isn't.

Also, four prior months were revised down.

October: 206K -> 196K
November: 289K -> 245K
December: 227K -> 191
January: 175K -> 127
February: 155K (Expected) : 139 (Actual)

Ransom
03-05-2014, 10:41 AM
Like their recent.....adjustment...to the GDP number. From 3.2% growth in 4th Q 2013, to an actual 2.4%. Note the adjustment always trends down. Odd.

Cthulhu
03-05-2014, 10:50 AM
I wonder how many of these jobs are part time/low skill labor. Not exactly the sort of thing you want to base your economy's health off of.

AmazonTania
03-05-2014, 10:53 AM
ADP doesn't go into that much detail and does not use the same computing methodology as the CES or CPS, which is why its a horrible forecasting metric compared to the BLS.

In any case, majority of the jobs created were in the Service Sector, as normal.

Ransom
03-05-2014, 11:13 AM
ADP though a primary payroll services corp and thus their number watched closely.

Ransom
03-05-2014, 11:15 AM
So now you only have what? Some 30 million to go to catch up to where you were a decade ago? I know what works, create some kind of bubble and then manufacture another war.

:roflmao:

The English......commenting on others maunufacturing war? The greatest imperialists in this planet's history. You've got a bloody cheek, PW.

Paperback Writer
03-05-2014, 11:44 AM
The English......commenting on others maunufacturing war? The greatest imperialists in this planet's history. You've got a bloody cheek, PW.

What is "maunufacturing"? Is that Amerrikan for something I should know?

Cigar
03-05-2014, 11:44 AM
The market doesn't pay attention to the trends. They pay attention to the expectations. The market expected 155K ADP Payroll prints, instead we got 139K payroll prints. The purpose of these expectations is to gauge the performance of the economy and determine whether or not current economy policy is effective, which obviously, it isn't.

Also, four prior months were revised down.

October: 206K -> 196K
November: 289K -> 245K
December: 227K -> 191
January: 175K -> 127
February: 155K (Expected) : 139 (Actual)


(+) vs (-) ... :grin: Away's a Good thang

AmazonTania
03-05-2014, 11:54 AM
(+) vs (-) ... :grin: Away's a Good thang

Maybe if you've lowered your standards.

(+) when you're expecting ( - ) is a good thing.

(Small +) when you're expecting ( Big + ) is never a good thing.

That would be like expecting $1 million dollars in profits when you've only earned a quarter of that. Trying to spin this as a good thing is beyond dumb.

patrickt
03-05-2014, 11:55 AM
"National payroll firm ADP reported Wednesday (http://www.adpemploymentreport.com/2014/February/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-February2014-Final-Press-Release.pdf) that just 139,000 private sector jobs were added in February. The number was below economists' forecast of 155,000. ADP also revised downward its estimate of new private sector jobs in January, falling to 127,000 from an initially reported 175,000. The two months showed the least amount of job growth in over a year."
http://www.breitbart.com/Big-Government/2014/03/05/Weak-ADP-Jobs-Report-Misses-Expectations

Cigar one of those fans who cheers when the other team makes a goal. Clueless is sad.

Amerrikan? Gee, Paperback, is that something limey that I should know?

Paperback Writer
03-05-2014, 11:56 AM
Amerrikan? Gee, Paperback, is that something limey that I should know?

I believe it is a subset of the American vernacular called "Dubyan".

Captain Obvious
03-05-2014, 12:29 PM
Job growth nowadays is to RWNJ bucket brigaders what no fatality gun violence is to Eddie.

A waste of hate.

lynn
03-05-2014, 06:52 PM
The number of wage and salary worker jobs have been steadily decreasing since 2011. We have lost more jobs then we gained.

Mainecoons
03-05-2014, 06:59 PM
Correct me if I'm wrong but I believe it would take twice this many to even stay even? And how many of them are Obama McJobs?

This is what happens when you have a functional illiterate try to understand employment data. It doesn't work very well.

:grin:

Mainecoons
03-05-2014, 07:15 PM
Now this is an interesting read. Basically, it contends that ObombedItCare will decrease employment because people won't work for health insurance.

That makes sense to me. What I can't quite grasp is how a government that is already printing money willy nilly is going to compensate for the double whammy of fewer people working, and paying taxes, while more of them are getting subsidized health care paid for out of a shrinking tax base.

We'll dispense with the main bit of fantasy, soak the rich. The numbers don't add up, libs. Come up with a credible way you're going to pay for the health care of all those folks who quit working because. . . .you're printing money to pay for their health care.

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/02/05/yes-obamacare-will-probably-downsize-the-workforce-economists-explain-why/

Cigar
03-05-2014, 07:41 PM
Maybe if you've lowered your standards.

(+) when you're expecting ( - ) is a good thing.

(Small +) when you're expecting ( Big + ) is never a good thing.

That would be like expecting $1 million dollars in profits when you've only earned a quarter of that. Trying to spin this as a good thing is beyond dumb.

Are you expecting Obama to Act on his own or get Congress to Vote?