JakeStarkey
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- Aug 10, 2009
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The news is better than expected, but included is the loss of 9000 jobs in manufacturing.
Services surge gives boost to jobs picture: ADP
Amid rising recession expectations and turbulence financial markets, companies kept on creating jobs in February.
New hires totaled 214,000 for the month, according to a a report Wednesday from ADP and Moody's Analytics that could brighten the mood on Wall Street, which has been reeling from a series of weak economic reports. The figure easily topped economist expectations of 190,000.
Despite the better than expected number, the report highlighted concerns over the jobs picture. Almost all of the new positions — 208,000 in total — came from the services sector. Manufacturing, a sector that has been in contraction for several months, lost 9.000 positions, while financial activities, a bright spot in the January report with 19,000 new jobs, added just 8,000 in February, the lowest level since August.
Services surge gives boost to jobs picture: ADP
Amid rising recession expectations and turbulence financial markets, companies kept on creating jobs in February.
New hires totaled 214,000 for the month, according to a a report Wednesday from ADP and Moody's Analytics that could brighten the mood on Wall Street, which has been reeling from a series of weak economic reports. The figure easily topped economist expectations of 190,000.
Despite the better than expected number, the report highlighted concerns over the jobs picture. Almost all of the new positions — 208,000 in total — came from the services sector. Manufacturing, a sector that has been in contraction for several months, lost 9.000 positions, while financial activities, a bright spot in the January report with 19,000 new jobs, added just 8,000 in February, the lowest level since August.