MMC
07-06-2012, 02:00 AM
U.S. companies added substantially more jobs than expected in June, according to a new report, buoying hopes that the labor market might not be struggling as much as economists thought.
About 176,000 workers were added to company payrolls last month, according to estimates from the latest ADP National Employment Report. That's larger than the 136,000 jobs added in May and significantly more than the 100,000 or so economists predicted for June.
But while Thursday's ADP numbers might be encouraging, all eyes and hopes are still on the Bureau of Labor's jobs report, scheduled to come out Friday. A good number would mean a better outlook for the labor market, boost consumer confidence, and give the economy a shot in the arm. A bad number could worsen already simmering fears that the U.S. economy is in for a rough ride in the second half of 2012.
The solid ADP report isn't the only indicator suggesting some improvement. Two other reports released Thursday bode well for the labor market as well. First-time unemployment claims fell to 374,000, down 14,000 from the previous week according to the Department of Labor's Employment and Training Administration. That's the biggest fall since April and the lowest number of claims since mid-May.
Layoffs fell to a 13-month low in June, as well, according to the outplacement firm Challenger, Gray & Christmas. U.S-based employers announced 37,551 job cuts during the month, which is down almost 40 percent from the cuts planned in May.
"What's important is the trend of the numbers and no matter what the jobs number is, if you look at the economic reports葉he manufacturing reports, the industrial reports葉hey're all weakening," says Lance Roberts, chief economist and investment strategist at Streettalk Advisors. "In terms of employment, corporations are the last to hire and the last to fire. It will take a few more months of weakening economic data before corporations start saying, 'I've got to protect my profit margin and start laying off people.'"
"The trend in employment is negative, the trend in the economy is negative葉hat doesn't bode well for the next few months," he adds.....snip~
http://www.usnews.com/news/articles/2012/07/05/june-jobs-market-gets-a-jolt-adds-176000-workers
[B]Obama and crew of course were trying to Spin it another way. Bottom line no 200k jobs. Moreover I wouldn't go with the Economists low balling the jobs number so they can appear to be higher than what they thought. Manufacturing has contracted for the First time in 3 years Under Obama. Already some don't think the BOL numbers will be up. Which is more of an offset if they are down. Either way the Predictions are the numbers will be down for the next few months. Thoughts?
About 176,000 workers were added to company payrolls last month, according to estimates from the latest ADP National Employment Report. That's larger than the 136,000 jobs added in May and significantly more than the 100,000 or so economists predicted for June.
But while Thursday's ADP numbers might be encouraging, all eyes and hopes are still on the Bureau of Labor's jobs report, scheduled to come out Friday. A good number would mean a better outlook for the labor market, boost consumer confidence, and give the economy a shot in the arm. A bad number could worsen already simmering fears that the U.S. economy is in for a rough ride in the second half of 2012.
The solid ADP report isn't the only indicator suggesting some improvement. Two other reports released Thursday bode well for the labor market as well. First-time unemployment claims fell to 374,000, down 14,000 from the previous week according to the Department of Labor's Employment and Training Administration. That's the biggest fall since April and the lowest number of claims since mid-May.
Layoffs fell to a 13-month low in June, as well, according to the outplacement firm Challenger, Gray & Christmas. U.S-based employers announced 37,551 job cuts during the month, which is down almost 40 percent from the cuts planned in May.
"What's important is the trend of the numbers and no matter what the jobs number is, if you look at the economic reports葉he manufacturing reports, the industrial reports葉hey're all weakening," says Lance Roberts, chief economist and investment strategist at Streettalk Advisors. "In terms of employment, corporations are the last to hire and the last to fire. It will take a few more months of weakening economic data before corporations start saying, 'I've got to protect my profit margin and start laying off people.'"
"The trend in employment is negative, the trend in the economy is negative葉hat doesn't bode well for the next few months," he adds.....snip~
http://www.usnews.com/news/articles/2012/07/05/june-jobs-market-gets-a-jolt-adds-176000-workers
[B]Obama and crew of course were trying to Spin it another way. Bottom line no 200k jobs. Moreover I wouldn't go with the Economists low balling the jobs number so they can appear to be higher than what they thought. Manufacturing has contracted for the First time in 3 years Under Obama. Already some don't think the BOL numbers will be up. Which is more of an offset if they are down. Either way the Predictions are the numbers will be down for the next few months. Thoughts?