U.S. companies add most workers in 7 months as storm effect fades: ADP

Reuters ^ | 11/01/2017

[SeekAndFind]

U.S. companies added the most workers in seven months in October as hiring rebounded from an 11-month low set in September stemming from Hurricanes Harvey and Irma, a report by a payrolls processor showed on Wednesday.

The ADP National Employment Report said private employers hired 235,000 workers last month, exceeding a median forecast of 200,000 among economists polled by Reuters.

Domestic private payrolls in September were revised down to an increase of 110,000 from the previous 135,000.

The report is jointly developed with Moody’s Analytics.

“This labor market is tight and is destined to be tighter,” Mark Zandi, Moody’s Analytics chief economist said on a conference call with reporters.

The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Economists polled by Reuters are looking for U.S. private payroll employment to have grown by 303,000 jobs in October, versus a drop of 40,000 the month before. Total non-farm employment is expected to have increased by 312,000.

The unemployment rate is forecast to stay steady at 4.2 percent.

Zandi said the government’s jobs readings in September and October would show larger swings than those from ADP because it uses a different method to count workers affected by the storms.

[SeekAndFind]

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October 2017 Report Highlights*

View the ADP National Employment Report Infographic at www.adpemploymentreport.com.

Total U.S. Nonfarm Private Employment: 235,000

By Company Size

• Small businesses: 79,000
  • 1-19 employees 43,000
  • 20-49 employees 36,000
    
    
• Medium businesses: 66,000
  • 50-499 employees 66,000
    
    
• Large businesses: 90,000
  • 500-999 employees 20,000
  • 1,000+ employees 70,000

By Sector

• Goods-producing:  85,000
  • Natural resources/mining 1,000
  • Construction 62,000
  • Manufacturing 22,000
    
    
• Service-providing: 150,000
  • Trade/transportation/utilities -50,000
  • Information -27,000
  • Financial activities 9,000
  • Professional/business services 109,000
    • Professional/technical services 68,000
    • Management of companies/enterprises 8,000
    • Administrative/support services 34,000
  • Education/health services 39,000
    • Health care/social assistance 44,000
    • Education -5,000
  • Leisure/hospitality 45,000
  • Other services 24,000

* Sum of components may not equal total, due to rounding.

• Franchise Employment**
  • Franchise jobs 30,600

**Complete details on franchise employment can be found here.

[SeekAndFind]

[TomGuy]

Gearing up for the holiday season, since they can’t get enough robots built and trained.

[dsrtsage]

At least around here there is a labor shortage the likes of which I have never seen. For example, After last spring I was told by all roofers not to even call before July. In July they said dont call before september. From september they say no dice till spring (after the coming rain and snow). Nobody will even put me in a queue. I have water dripping right through my roof in at least 4 locations above very very expensive hard wood floors on a very old house that is part of the city historical architectural walking tour. I have never had contractors (and so many of them) outright say no, to the extent that they would not even put my name in a queue for april.

Same with my poor 66 cruiser. I am doing a rewire and a little bit of restore. Now that I have every wire and hose pulled and there is nothing in the way, I figured was a very good time to get a little bit of painting, a little bit of rust proofing and a little bit of minor body damage taken care of. As soon as I said 1966 that was the end of the conversation. 25 paint and body shops called, 25 flat out no. Even the few who did speak to me said they were booked solid until february, and pretty much any body and paint was only interested in insurance paid collision repair for modern cars where you just clip on a new plastic fender, charge insurance eleventy billion dollars and move on to the next. The couple of “restoration” shops were booked until June. I literally towed it (myself) 125 miles toSacramento, after days of a similar fruitless search. Finally found someone not terrified to spend a few hours welding minor damage and painting.

Anyway, sure no-one is really interested in my advetures of labor shortage, but the original point is that there is so much work going on that it is almost impossible to hire anybody to do anything in this town (unless you are a super government subsidized guy building cars to save the planet from global warming). But I am sure the media wont notice

[353FMG]

Employees at many E&C companies in Houston lost their accrued vacation time due to hurricane ‘Harvey’ while our legislaturers glide effortlessly from one vacation into the next.

[Harmless Teddy Bear]

The important number the the first one. The small businesses with one to nineteen employees. Usually when times are tough the owner has to let go everyone one but himself and work sixteen hour days to keep things going.

If they are starting to hire then things are truly on the upswing as they have the fewest reserves and are the most gun-shy.