Posted on 04/04/2018 9:12:00 AM PDT by SeekAndFind
* Private companies added 241,000 positions in March as employment in construction and manufacturing surged, according to ADP and Moody's Analytics.
* The report was well ahead of Wall Street estimates for 205,000 growth and marked the fifth straight month that private payroll growth topped 200,000.
* Service providers added 176,000 new jobs while goods-producing industries contributed 65,000.
* "The job market is rip-roaring," says Mark Zandi, Moody's Analytics' chief economist.
Companies kept up the hiring pace in March, adding 241,000 positions as employment in construction and manufacturing surged, according to a report Wednesday from ADP and Moody's Analytics.
Economists surveyed by Reuters had been expecting the report to show that private payrolls had gained by 205,000.
This was the fifth straight month that the ADP/Moody's count showed private payrolls up by at least 200,000, though March saw a slight decline from the upwardly revised 246,000 in February. On a year-over-year basis, March 2018 nearly doubled the 122,000 total from the previous year.
"The job market is rip-roaring," Mark Zandi, Moody's Analytics' chief economist, said in a statement. "Monthly job growth remains firmly over 200,000, double the pace of labor force growth. The tight labor market continues to tighten."
Job gains were broad-based, spread across both business size and sector.
Service providers added 176,000 while goods-producing industries contributed 65,000. Construction and manufacturing led the latter category, adding 31,000 and 29,000 respectively.
On the services side, professional and business led with 44,000, while trade, transportation and utilities was next with 40,000. Health care and social assistance added 28,000 while leisure and hospitality grew by 26,000.
(Excerpt) Read more at cnbc.com ...
Medium-sized firms, with 50 to 499 employees, were the top jobs producers with 127,000 new hires, while large firms added 67,000 and small businesses rose by 47,000.
But . . . but . . . Trade war with China . . . OMG . . . We’re all gonna die!!!
“Trumpie wins again”!!! Go for it, POTUS, Trump...Make America Great Again. I just love it when Trumpie wins.
Yep that’s all that matters to the market. When it goes up one day the media runs a reminder of the tariffs . I just heard the local radio station talking about how close we are to a trade war. Market down.
IIRC during the Obama years the initial estimates were usually changed downward when all the numbers came in. Guess which number got the biggest publicity.
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