Posted on 03/06/2013 6:38:50 AM PST by SeekAndFind
U.S. job growth kept apace last month, a new report this morning shows, a bright sign for the economy that allowed stocks to continue to set new highs.
Private companies added 198,000 workers in February, according to the monthly estimate from payroll giant ADP. Analysts expected ADP to report 173,000 new jobs. Growth fell, though, from a month earlier when businesses added 215,000.
After closing at a new record yesterday, the Dow Jones industrial average rose still more in pre-market trading. Dow futures gained 47 points. Nasdaq futures added 4.8 points, and the S&P 500 increased 6.9 points.
Attention now shifts to Friday’s jobs figure from the Labor Department. The ADP report can offer a broad signal but is a rarely perfect predictor of the government estimate. “But the ADP gains the gains suggest decent growth in construction hiring,” says FTN Financial economist Chris Low, “which is consistent with the ongoing recovery in residential investment and most of the rest of the job growth in trade and transport and business.”
(Excerpt) Read more at forbes.com ...
Happy Days Are Here Again.
And 1,400,000 new applications for unemployment. Hmmmmm?
The next stock bubble is developing & Fed printing the money to hold it up.
Do all y’all thank the Obammer admin might actually larn somethin’ ‘bout economics and taxes and spendin’ from this hyar sequestration thang?
ADP just prints the checks... and with so many taking on second jobs to make ends meet, their numbers may be a little skewed, and the country a lot screwed.
teeman
“stocks to continue to set new highs.”
I hate bull$h!t. Yesterday all the radio and TV announcers were $h!tting in their pants over the “highest since the Bush administration.”
Bull$h!t. A number that is not adjusted for inflation is useless.
Compare these numbers to common sense things like The sales drop at places like Wal-mart and you will come to the conclusion that these phony numbers are just part of the grand deception.
The Ministry of Propaganda has spoken.....All is well....Heil Obama.
Doesn’t it take about 350,000 jobs created each month to maintain a stable labor force with tolerable unemployment percentage?
Is 198,000 the new normal best we can do?
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