ADP: 198,000 Jobs Added In February

[TruthOut10]

Companies added more workers than projected in February, indicating the U.S. job market will keep expanding this year, according to a private report based on payrolls.

The 198,000 increase in employment followed a revised 215,000 gain the prior month that was more than initially estimated, figures from the Roseland, New Jersey-based ADP Research Institute showed today. The median forecast of 41 economists surveyed by Bloomberg called for an advance of 170,000.

Sustained hiring by businesses, even as lawmakers in Washington were sparring over budget reductions, signals there is enough demand to support consumer spending, the biggest part of the economy. A Labor Department report this week may show private payrolls rose by 167,000 last month, according to the Bloomberg survey median.

“The job market remains sturdy in the face of significant fiscal headwinds,” Mark Zandi, chief economist at Moody’s Analytics Inc., said in a statement. Moody’s produces the figures with ADP. “Businesses are adding to payrolls more strongly at the start of 2013 with gains across all industries and business sizes. Tax increases and government spending cuts don’t appear to be affecting the job market.”

Stock-index futures advanced, indicating the Dow Jones Industrial Average will extend its highest level ever. The contract on the Standard & Poor’s 500 Index expiring this month rose 0.4 percent to 1,543.7 at 8:41 a.m. in New York. Dow futures rose 57 points, or 0.4 percent.

Estimates in the Bloomberg survey for the ADP figure ranged from gains of 125,000 to 210,000. The prior month’s figure was revised from a previously reported increase of 192,000.

ADP Says Companies in U.S. Added 198,000 Workers in February - Bloomberg

 

[waltky]

Jobs Report Disappoints...

U.S. gains 148,000 jobs; jobless rate, 7.2%
October 22, 2013 ~ Job gains have averaged 143,000 for the past three months, 185,000 for the past 12; Businesses added 126,000 jobs; governments, 22,000; Americans out of work for at least 6 months falls by 144,000 to 4.1 million

September job gains of 148,000 were below economists' forecasts and well under August's revised total of 193,000. Employers added a disappointing 148,000 jobs in September, extending a summer slowdown in payroll growth. The unemployment rate fell to 7.2% from 7.3%, the Labor Department said Tuesday. The closely-watched survey was scheduled to be released Oct. 4, but was delayed by the federal government shutdown. Economists' consensus forecast had estimated that 180,000 jobs were added last month.

Businesses added just 126,000 jobs, while federal, state and local governments added 22,000. Professional and business services, transportation and construction drove the private-sector payroll growth. "The labor market is very much on a razor's edge and very much in need" of the Federal Reserve's stimulus, says Jason Schenker, president of Prestige Economics. Barclays Capital says the weak report has prompted it to push back its estimate for when the Fed will begin to scale back its bond-buying stimulus from December to March. The research firm now expects the Fed to end the purchases in September instead of mid-year.

Job gains for July and August were revised up by a total 9,000. July's were revised down to 89,000 from 104,000. August's were revised up to 193,000 from 169,000. Other barometers of the labor market in September were mixed. Employers added a solid 20,000 temporary workers. The addition of such contingent workers often foreshadows a pick-up in permanent hiring, but since the recession many businesses have embraced the hiring of temporary workers as a substitute for committing to permanent staffers. The average workweek, meanwhile. was unchanged at 34.5 hours. Employers often increase the hours of existing workers before adding new ones. Average hourly earnings rose 3 cents to $24.09.

Another bright spot: The number of Americans out of work at least six months fell by 144,000 to 4.1 million, but they still represent 37% of all those unemployed. A broader reading of distress in the employment market called the underemployment rate fell to 13.6% from 13.7%. The measure includes part-time workers who prefer full-time jobs and those who've stopped looking for work, as well as the unemployed. Professional and business services led the job gains, with 32,000. Transportation and warehousing added 23,000 jobs; retail, 21,000, and construction, which is benefiting from a housing recovery, 20,000. Manufacturers, which have been hobbled by defense cuts and a global economic slowdown, added just 2,000 jobs.

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[expat_panama]

...Americans out of work for at least 6 months falls by 144,000 to 4.1 million...

--that is if we're only counting the out of work Americans that answer survey questions in a certain way. The total number of working age non-institutionalized civilian adults without jobs is 101,887,000:

 

[SteadyMercury]

[--that is if we're only counting the out of work Americans that answer survey questions in a certain way. The total number of working age non-institutionalized civilian adults without jobs is 101,887,000

Hah hah so that poster's statistic on how many Americans have been out of work for six months can be refuted by your graph of total adults currently our of work?

Apple, meet orange.

 

[pinqy]

...Americans out of work for at least 6 months falls by 144,000 to 4.1 million...

--that is if we're only counting the out of work Americans that answer survey questions in a certain way. The total number of working age non-institutionalized civilian adults without jobs is 101,887,000:

The "certain way" is yes to the following questions:
Do you want a job?
Have you looked for work in the last 4 weeks?
Could you have started work last week if you had been offered a job?

Pretty straightforward. What objective definition would you prefer?

 

[expat_panama]

...The "certain way" is yes to the following questions: Do you want a job? Have you looked for work in the last 4 weeks? Could you have started work last week if you had been offered a job? Pretty straightforward...

We agree that you consider your questions straight forward because we all got our opinions. Agreeing that those are in fact the questions would be a lot easier if you posted links to your sources (survey methodology would be nice too; if we're talking BLS here they're pretty transparent) --getting stuff from people on the internet's been problematic for ages --going clear back to the Civil War when Lincoln warned ahout bogus quotes.

Ah, and here's the link to a video of Lincoln on youtube complaining about the problem during a speech.

 

[pinqy]

...The "certain way" is yes to the following questions: Do you want a job? Have you looked for work in the last 4 weeks? Could you have started work last week if you had been offered a job? Pretty straightforward...

We agree that you consider your questions straight forward because we all got our opinions. Agreeing that those are in fact the questions would be a lot easier if you posted links to your sources (survey methodology would be nice too; if we're talking BLS here they're pretty transparent) --getting stuff from people on the internet's been problematic for ages --going clear back to the Civil War when Lincoln warned ahout bogus quotes.

Ah, and here's the link to a video of Lincoln on youtube complaining about the problem during a speech.

I'm sorry, I assumed you actually knew the definition of unemployed. I won't assume you have any knowledge again.
Definition, from Employment Situation Technical Note

People are classified as unemployed if they meet all of the following criteria:
they had no employment during the reference week; they were available for work at
that time; and they made specific efforts to find employment sometime during the
4-week period ending with the reference week. Persons laid off from a job and
expecting recall need not be looking for work to be counted as unemployed. The
unemployment data derived from the household survey in no way depend upon the
eligibility for or receipt of unemployment insurance benefits.

And
the complete labor force questions
The exact wordings are:
(Do / Does) (name/you) currently want a job, either full or part time?
THE WEEK BEFORE LAST/LAST WEEK), could (you/he/she) have started a job if one had been offered?
What are all the things (you/he/she) (have/has) done to find work during the last 4 weeks?

So I was off on that last one, though it makes no real difference.

I note you didn't offer your own definition.

 

[Rshermr]

...The "certain way" is yes to the following questions: Do you want a job? Have you looked for work in the last 4 weeks? Could you have started work last week if you had been offered a job? Pretty straightforward...

We agree that you consider your questions straight forward because we all got our opinions. Agreeing that those are in fact the questions would be a lot easier if you posted links to your sources (survey methodology would be nice too; if we're talking BLS here they're pretty transparent) --getting stuff from people on the internet's been problematic for ages --going clear back to the Civil War when Lincoln warned ahout bogus quotes.

Ah, and here's the link to a video of Lincoln on youtube complaining about the problem during a speech.

I'm sorry, I assumed you actually knew the definition of unemployed. I won't assume you have any knowledge again.
Definition, from Employment Situation Technical Note

People are classified as unemployed if they meet all of the following criteria:
they had no employment during the reference week; they were available for work at
that time; and they made specific efforts to find employment sometime during the
4-week period ending with the reference week. Persons laid off from a job and
expecting recall need not be looking for work to be counted as unemployed. The
unemployment data derived from the household survey in no way depend upon the
eligibility for or receipt of unemployment insurance benefits.

And
the complete labor force questions
The exact wordings are:
(Do / Does) (name/you) currently want a job, either full or part time?
THE WEEK BEFORE LAST/LAST WEEK), could (you/he/she) have started a job if one had been offered?
What are all the things (you/he/she) (have/has) done to find work during the last 4 weeks?

So I was off on that last one, though it makes no real difference.

I note you didn't offer your own definition.

Well, if you want to be honest, yeah. And if you want to base stuff on the truth, yeah. But you need to understand, Panama is not at all interested in facts, or truth. Much to complex. He finds it easier to simply post stuff from bat shit crazy con web sites. Always as, always will. Now that you cornered him, he will either just vanish (highest probability), toss out some insults (tied for second highest probability), or throw out some more drivel cut from another bat shit crazy con web site (tied for second highest probability).

 

[pinqy]

We agree that you consider your questions straight forward because we all got our opinions. Agreeing that those are in fact the questions would be a lot easier if you posted links to your sources (survey methodology would be nice too; if we're talking BLS here they're pretty transparent) --getting stuff from people on the internet's been problematic for ages --going clear back to the Civil War when Lincoln warned ahout bogus quotes.

Ah, and here's the link to a video of Lincoln on youtube complaining about the problem during a speech.

I'm sorry, I assumed you actually knew the definition of unemployed. I won't assume you have any knowledge again.
Definition, from Employment Situation Technical Note

People are classified as unemployed if they meet all of the following criteria:
they had no employment during the reference week; they were available for work at
that time; and they made specific efforts to find employment sometime during the
4-week period ending with the reference week. Persons laid off from a job and
expecting recall need not be looking for work to be counted as unemployed. The
unemployment data derived from the household survey in no way depend upon the
eligibility for or receipt of unemployment insurance benefits.

And
the complete labor force questions
The exact wordings are:
(Do / Does) (name/you) currently want a job, either full or part time?
THE WEEK BEFORE LAST/LAST WEEK), could (you/he/she) have started a job if one had been offered?
What are all the things (you/he/she) (have/has) done to find work during the last 4 weeks?

So I was off on that last one, though it makes no real difference.

I note you didn't offer your own definition.

Well, if you want to be honest, yeah. And if you want to base stuff on the truth, yeah. But you need to understand, Panama is not at all interested in facts, or truth. Much to complex. He finds it easier to simply post stuff from bat shit crazy con web sites. Always as, always will. Now that you cornered him, he will either just vanish (highest probability), toss out some insults (tied for second highest probability), or throw out some more drivel cut from another bat shit crazy con web site (tied for second highest probability).

I was expecting him to make a fuss about how I didn't use the exact phrasing.