Posted on 10/02/2019 9:22:44 AM PDT by Red Badger
Oct. 2 (UPI) -- Private-sector hiring increased by approximately 135,000 jobs in September, beating projections but indicating a slowing in growth, a report by ADP Research in collaboration with Moody's Analytics said Wednesday.
Analysts said the number and three-month average is down from this point last year, suggesting that U.S. job expansion is losing steam. The report comes ahead of employment figures that will be released in the Employment Situation Summary by the Bureau of Labor Statistics on Friday.
Economists interviewed by Dow Jones had anticipated 125,000 hires in September, but both numbers are down from the 157,000 hired in August.
September's ADP National Employment Report said large companies led the hiring, accounting for 52,000 jobs. Service-providing businesses provided 127,000 jobs. In that category, education accounted for 42,000 jobs.
"The job market has shown signs of a slowdown," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement. "The average monthly job growth for the past three months is 145,000, down from 214,000 for the same time period last year."
Mark Zandi, a chief economist for Moody's Analytics, said it appears that businesses have become more "cautious" in their hiring this time of year.
"Small businesses have become especially hesitant," Zandi said in a statement. "If businesses pull back any further, unemployment will begin to rise."
The ADP report said that small businesses, companies with up to 49 employees, hired the lowest number of employees over the past month with 30,000 jobs. Medium-size businesses, those with 50 to 499 employees, added 39,000 jobs.
These statistics are essentially meaningless. If you want a job, jobs are there.
How many people are surprised that President Trump’s job numbers once again outperformed expectations? How many people were surprised that Barack Hussein’s job numbers consistently underperformed expectations? It’s almost like the deep state has an agenda and facts are not on their list of things to include.
Market down 500 points, ignoring the jobs news.
So it must be the impeachment news driving market down.
Add to that tariff war, and someone will lose in that war,
because no war has 2 winners, ever.
Dow tumbles over 500 points on global economic slowdown fears
https://www.foxbusiness.com/markets/us-stocks-oct-2-2019
“UNEXPECTED”
Wall Street is starting to take the possibility of an Elizabeth Warren presidency seriously — and strategists warn a victory could crush certain parts of the market:
The “Expected” job number was 125K so we had a 10K winner here. Go to any lameSM outlet and this number, 135K, is being noted as a loss/loser:-)
The numbers are meaningless. At the beginning of an economic turnaround the economy has been known to add 400,000 jobs or more and that number will slowly drop as more and more jobs are filled with folks needed to REPLACE those furloughed because of the recession. After those people are replaced the new hires in months following would be to replace people who quit and some to be used in any plans for growth.
We are at a point now of full employment since there are about 700,000 more jobs available than people to take them.
Suggesting as this piece does that this number is in the fore of slow down is, considering the source merely wishful thinking.
Thanks Red Badger.
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