A recent report from Automatic Data Processing (ADP) shows the following improvements in the job market.
Private-sector employment increased by 187,000 from December to January on a seasonally adjusted basis, according to the latest ADP National Employment Report released today. The estimated change of employment from November to December was revised down by 50,000 to 247,000 from the previously reported increase of 297,000.This month’s ADP National Employment Report suggests solid growth of private nonfarm payroll employment heading into the New Year. The recent pattern of rising employment gains since the middle of last year appears to be intact, as the average gain over December and January (217,000) is well above the average gain over the prior six months (52,000). Strength was evident within all major industries and across all size business tracked in the ADP Report.According to the ADP Report, employment in the service-providing sector rose by 166,000 in January, marking twelve consecutive months of employment gains. Employment in the goodsproducing sector rose 21,000, the third consecutive monthly gain. Manufacturing employment rose 19,000, also the third consecutive monthly gain.Employment among large businesses, defined as those with 500 or more workers, increased by 11,000 while employment among medium-size businesses, defined as those with between 50 and 499 workers, increased by 79,000. Employment among small- size businesses, defined as those with fewer than 50 workers, increased by 97,000.In January, construction employment dropped 1,000. The total decline in construction employment since its peak in January 2007 is 2,311,000. Employment in the financial services sector increased 3,000 in January.
Tomorrow, the official BLS report ( Bureau of Labor Statistics ) comes out, and although that report is expected to show an improvement in January’s job figures, the unemployment rate is expected to climb slightly to 9.5%
Read the full report here.