Posted on 06/01/2017 8:29:00 AM PDT by Olog-hai
Job gains in the private sector far outpaced expectations in May, payroll processor ADP said Thursday, adding to sentiment that the U.S. economy is seeing a rebound in the second quarter from a sluggish first three months of the year.
The private sector added 253,000 jobs last month, far outpacing Wall Street expectations for a gain of 185,000 jobs. Business services, which includes technical services, management and administrative and support services positions, saw its strongest monthly increase since 2014, adding 88,000 jobs for the month, boosting the overall service-providing sector to 205,000 net new jobs.
“Job growth is rip-roaring,” Mark Zandi, chief economist of Moody’s Analytics, said in a statement. “The current pace of job growth is nearly three times the rate necessary to absorb growth in the labor force. Increasingly, businesses’ number one challenge will be a shortage of labor.”
Elsewhere, the goods-producing sector added 48,000 jobs as 37,000 new construction jobs came online, while information services and leisure and hospitality saw employment declines. …
(Excerpt) Read more at foxbusiness.com ...
*SIGH*
I sure miss the days when Crazy Uncle Joe Biden was creating 450,000 jobs a month, year after year after year...
*SNORT*
Still have a ways to go for the U-6 to drop significantly.
So what. Trump colluded with the Ruski’s and is killing the world climate. So what America is becoming great again.
Funny, when Obama had a bad 1st quarter of the year they always blamed it on the weather
Remember when unexpected meant “less than” for 8 years in a row after the previous 8 years of meaning “greater than” but always with a caveat like “would have been, except it snowed two feet in Fargo in the middle of January” Now it has for no apparent reason transformed to mean “greater than” again with a very heavy feeling of “scientists baffled”
I can tell the economy is getting better. Today I recycled all my aluminum cans,saved for a year. I received .37 cents for a 190 lbs. For the last eight years it was .56-.59. MAGA.
Hmmm...I’m not seeing it...recently the following shops near me have closed or are closing:
HH Gregg, Gander Mountain, a Kroger’s (just one store, not the whole chain), an Ace Hardware (again just one store).
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