Posted on 12/01/2010 8:10:42 AM PST by SeekAndFind
Private-sector employment posted its biggest improvement in three years last month, according to a report issued Wednesday, while separate data showed the biggest increase in job cuts in eight months.
Payrolls among private employers rose by 93,000 in November, the 10th consecutive month of increases, payroll processor ADP said in its report.
The jump was bigger than economists had expected. The ADP employment report was expected to show a gain of 58,000 jobs in November, according to the Briefing.com consensus of economist forecasts. In addition, the October gain was revised by nearly double to 82,000 from the originally reported 43,000.
Employment in service jobs surged, adding 79,000 jobs. The goods producing sector added 14,000 jobs, the first monthly increase since March 2007.
"There is just a feeling that we have turned a corner, " said Joel Prakken, Chairman of Macroeconomic Advisers on a conference call with reporters. "It seems to me that we have left behind the recessionary declines of employment. We have passed through a phase where employment was flat."
The nation's smallest businesses showed the most growth: Large businesses, defined as those with 500 or more workers, increased by 2,000. Medium-size businesses, defined as those with between 50 and 499 workers, increased by 37,000. And employment among small-size businesses, defined as those with fewer than 50 workers, increased by 54,000.
Even while the report was an encouraging sign for the job market, Prakken said that it would take heftier monthly employment gains to get the unemployment rate to budge. "We are a long way from exuberant: 5% unemployment would be exuberant," he said.
(Excerpt) Read more at money.cnn.com ...
More here :
http://mjperry.blogspot.com/2010/11/more-positive-economic-news.html
More Positive News: Green Shoots Everywhere
1. U.S. consumer confidence in November reached its highest level since May, five months ago.
2. The Leading Economic Index for the Euro Area increased by 0.4% in October, following increases of 0.2% and 0.6% in September and August, respectively.
3. Shipping in Europe is showing strong gains: Hamburg’s total cargo volume rose 8% during the first nine months of the year compared to 2009, Rotterdam’s traffic jumped 31.4% over the same period, and Antwerp’s cargo volume was up 13.2%.
4. The Vancouver port set a new record in October for container traffic, with volume up 19.5% over the same month a year ago.
5. NAFTA trade rose 19.3% in September from last year.
6. Manufacturing output improved in the Midwest region in October according to the Chicago Fed, and in the Chicago region in November according to the Chicago PMI. The Dallas Fed reported a strengthening of manufacturing activity in Texas for November.
7. Positive results were reported for both the U.S. hotel industry and Canada’s hotel industry for the week of November 14-20.
8. State tax collections increased by 3.9% in the third quarter of this year compared to same period last year, the third consecutive quarterly gain in state tax revenues.
That’s because THE DEMOCRAPS GOT THEIR ASS KICKED IN NOVEMBER!
Don’t let them paint this as anything else!
Well, this looks like good news. What I’m seeing around me is that families have learned how to tighten their belts and though they might be making less money now than they were a few years ago, credit cards are no longer a way of life and the spending is much more deliberate. It’s a positive sign, though I don’t know how much employment’s really picking up.
In a nation of over 300,000,000. Pfft.
I see it getting better in Michigan. And I believe it is because of what is happening (or about to happen) in Washington.
Plus we have a new Republican business owner for governor with a new Republican legislature.
Optimism is starting to abound... or at least sprout.
What the hell, how can an INCREASE in the number of jobs CUT be positive? I simply do not trust any stats coming out of th the government sector or reported by them. A historically HIGH number of Americans are out of work and the news all over the world is terrible with Spain and Ireland among others on the brink of insolvency.
Figures to be revised in December ....
“Green shoots” my ass.
It would appear that the management of ADP is either looking to protect itself from future administration scrutiny or they are angling for jobs as “Payroll Czars”.
The “new jobs” created were most likely part time, to avoid the businesses having to cover medical.
Seasonal, holidays, Christmas jobs.
In a nation of over 300,000,000. Pfft.
Our population grew by more than 93,000 last month.
In 12 months thats 1,116,000 jobs. The population growth rate in the US is 0.6% or 1.8 million +-.
Boehner’s Fault!
Tight labor markets just suck. I’ve been riding the storm out in a job far below my abilities for a couple of years.
There are signs of returning to normalcy here in Austin, anyway.
*That’s because THE DEMOCRAPS GOT THEIR ASS KICKED IN NOVEMBER!
Don’t let them paint this as anything else!*
I agree.
Businesses figure there will be less insanity and uncertainty with the Republicans in control.
I bet the Vegas odds are about 50 to 1 that 0bama and the other Marxists will take credit for this.
If it’s bad news: Bush’s fault
Good News: Dems credit
We can’t be 100% certain that the Dems will take credit for good economic news during 0bama’s reign, because it hasn’t happened up until now.
To keep up with population growth the economy needs to add about 130,000 jobs per month. Anything less increases the amount of unemployed workers.
RE: I’ve been riding the storm out in a job far below my abilities for a couple of years.
Well, what to say? You have a lot to be thankful for — YOU HAVE A JOB, YOU HAVE INCOME. Millions of people don’t.
Good time to count our blessings.
Oh, don’t get me wrong, I do count my blessings.
I’m just happy there appears to be hope for going back to my old discipline.
For service workers, certainly. Let's just hope that the increases in manufacturing and goods producing aren't just companies goosing their inventories and getting in orders before it all goes to heck in '11.
More BS and wishful thinking.
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