Posted on 06/01/2017 6:08:31 AM PDT by Enlightened1
Companies added 253,000 new jobs in May, well above expectations of 185,000 and April's 174,000.
Big growth areas were construction and professional and business services.
A Just Energy Group Inc. representative speaks with job seekers during the Best Hire Career Fair in Houston, Texas, U.S., on Thursday, July 7, 2016. ADP reports payrolls up 253K in May 50 Mins Ago | 03:20
Job creation surged in May thanks to a jump in construction positions and a boom in professional and business services, according to a report Thursday from ADP and Moody's Analytics.
Private payrolls increased by 253,000, well ahead of expectations. Economists surveyed by Reuters expected the report to show that private payrolls grew by 185,000 in May from 174,000 in April.
The growth "is three times the rate of the growth in the underlying labor force," Mark Zandi, the chief economist at Moody's Analytics, told CNBC. "So that means the unemployment rate, which is 4.4 percent, is quickly headed to 4 percent. This labor market is rip-roaring and getting really tight."
Services broadly led the way with 205,000 new jobs, with professional and business services contributing 88,000 — its best month in about three years — and education and health services adding 54,000.
(Excerpt) Read more at cnbc.com ...
BTTT
So weird how the word unexpected suddenly means what it meant during the Bush years again
It’s always “unexpected” with the DNC Media.
There, fixed it.
There you go!
I helped, I helped! I hired a new sales person in May.
My wife and I are getting a house built. We wanted to begin a few years ago, but uncertainty during the Obama years made us hold off. We felt Trump’s confidence during the campaign and decided that if he won, we were going to move ahead with our plans. The house should be done in September.
Take that, libs.
Love it!
Don’t get too giddy. ADP made a habit of rosy predictions during the Previous (my new name for the One) administration.
And if we know anything about the media and govt. analysis, they are just setting up a big drop to happen in July-September 2020.
Remember when this was called 'unexpected?'
I have been thinking that maybe Trump will be able to turn this economy around without the help of congress by just reversing Obamas abysmal policies and creating a business friendly environment. That would be an epic victory over the swamp.
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