Private payrolls soar in January, the best monthly gain in nearly 5 years

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BigRedRetard
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Private payrolls soar in January, the best monthly gain in nearly 5 years

#1

Post by BigRedRetard » Wed Feb 05, 2020 4:55 pm

Key Points

Private payrolls rose by 291,000 in January, the best month since May 2015, according to ADP and Moody’s Analytics.
The report was nearly twice the expected gains.

The jobs market kicked off 2020 in grand fashion, adding 291,000 in private payrolls for the best monthly gain since May 2015, according to a report Wednesday from ADP and Moody’s Analytics.

That was well above the 150,000 estimate from economists surveyed by Dow Jones and more evidence that the U.S. still is a good distance from full employment even with the jobless rate at its lowest point in more than 50 years. The total also was a sharp gain from the 199,000 in December, which was revised down 3,000 from the initial count.

Growth came across a swath of industries.

Leisure and hospitality led with 96,000 new jobs, but education and health services also contributed 70,000 and professional and business services added 49,000. On the goods-producing side, construction rose by 47,000, the best growth since the 62,000 added in January 2019, and manufacturing was up 10,000, the biggest monthly gain since last February.

In all, services added 237,000 positions compared with 54,000 for goods producers. Trade transportation and utilities rose by 8,000, while the information and financial activities sectors contributed 2,000 apiece. Natural resources and mining was the sole loser with a drop of 2,000.
Weather helps

“It’s juiced by very mild winter weather,” said Mark Zandi. “The fingerprints of that are all over this report.”

Leisure and hospitality and construction are both weather-sensitive and got boosts from the higher than normal temperatures and low precipitation.

Taking that into effect, Zandi said the underlying trend for monthly job gains is about half of the January report, or around 150,000, still enough to maintain the unemployment rate.

From a size standpoint, the expansion was concentrated in businesses that have 50 to 499 employees, with growth of 128,000. Small companies added 94,000 while large industries grew by 69,000.

The figures come a day after President Donald Trump spent a good portion of his State of the Union address talking up the jobs expansion during his first term. Nonfarm payrolls have grown by 6.7 million since Trump took office in January 2017.

“Incredibly, the average unemployment rate under my administration is lower than any administration in the history of our country,” Trump said. “If we had not reversed the failed economic policies of the previous administration, the world would not now be witness to America’s great economic success.”

The ADP count comes two days ahead of the government’s more closely watched nonfarm payrolls report, which includes government jobs that ADP does not count. Job growth likely came in at 158,000 compared with the initially reported 145,000 in December, according to Dow Jones estimates. The unemployment rate is expected to hold at 3.5%, the lowest since December 1969.

Economists occasionally will adjust their numbers to reflect the ADP estimate, though the two counts can differ substantially on a month-to-month basis, as they did in December when ADP’s figure was well ahead of what the Labor Department reported.

However, for all of 2019, ADP actually undershot the government count — an average of 162,000 per month compared with about 176,000.

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#2

Post by CHEEZY17 » Wed Feb 05, 2020 6:14 pm

Fuck! I don't know how much more pain we can stand.
"Hey fellas, have you you heard the news- you know that Annie's back in town?"

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#3

Post by Stapes » Wed Feb 05, 2020 6:19 pm

Thankfully we get to benefit from the recovery started by Obama despite the trade wars and billionaire tax giveaways..... It would be nice instead of corporate BuyBacks that they increase wages a bit for their employees.

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#4

Post by CHEEZY17 » Thu Feb 06, 2020 3:53 am

Record economic optimism under Trump, better than Reagan, Clinton, and Obama

https://www.washingtonexaminer.com/wash ... nton-obama
"Hey fellas, have you you heard the news- you know that Annie's back in town?"

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#5

Post by Charliesheen » Thu Feb 06, 2020 4:18 am

Stapes wrote:
Wed Feb 05, 2020 6:19 pm
Thankfully we get to benefit from the recovery started by Obama despite the trade wars and billionaire tax giveaways..... It would be nice instead of corporate BuyBacks that they increase wages a bit for their employees.
Tranny bathrooms were like crack for the economy. Ditto with an abusive IRS and kale in school lunches. Thanks for reminding us of your Messiah's smooth economic moves.

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#6

Post by Stapes » Thu Feb 06, 2020 4:24 am

Charliesheen wrote:
Thu Feb 06, 2020 4:18 am
Stapes wrote:
Wed Feb 05, 2020 6:19 pm
Thankfully we get to benefit from the recovery started by Obama despite the trade wars and billionaire tax giveaways..... It would be nice instead of corporate BuyBacks that they increase wages a bit for their employees.
Tranny bathrooms were like crack for the economy. Ditto with an abusive IRS and kale in school lunches. Thanks for reminding us of your Messiah's smooth economic moves.

You're literally a living meme of right wing stupidity....lol

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#7

Post by Stapes » Thu Feb 06, 2020 4:25 am

Cheezy talks about CNN and MSNBC and then goes and post shit from the Washington examiner for fucksake...lol

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#8

Post by B-Tender » Thu Feb 06, 2020 4:30 am

Charliesheen wrote:
Thu Feb 06, 2020 4:18 am
Stapes wrote:
Wed Feb 05, 2020 6:19 pm
Thankfully we get to benefit from the recovery started by Obama despite the trade wars and billionaire tax giveaways..... It would be nice instead of corporate BuyBacks that they increase wages a bit for their employees.
Tranny bathrooms were like crack for the economy. Ditto with an abusive IRS and kale in school lunches. Thanks for reminding us of your Messiah's smooth economic moves.
There was a whole lot of QE though.

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#9

Post by Antknot » Thu Feb 06, 2020 4:54 am

Charliesheen wrote:
Thu Feb 06, 2020 4:18 am
Stapes wrote:
Wed Feb 05, 2020 6:19 pm
Thankfully we get to benefit from the recovery started by Obama despite the trade wars and billionaire tax giveaways..... It would be nice instead of corporate BuyBacks that they increase wages a bit for their employees.
Tranny bathrooms were like crack for the economy. Ditto with an abusive IRS and kale in school lunches. Thanks for reminding us of your Messiah's smooth economic moves.
You forgot the solar scams. Yes plural.
Blame Hollywood. That's what I do, and it's no less useful than blaming someone with an actual conscience.

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#10

Post by CHEEZY17 » Thu Feb 06, 2020 8:32 am

Stapes wrote:
Thu Feb 06, 2020 4:25 am
Cheezy talks about CNN and MSNBC and then goes and post shit from the Washington examiner for fucksake...lol
It talks about the results of a Gallup poll. Would a link right to Gallup be better for you?

Record-High Optimism on Personal Finances in U.S.

https://news.gallup.com/poll/284264/rec ... ances.aspx
"Hey fellas, have you you heard the news- you know that Annie's back in town?"

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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#11

Post by Charliesheen » Thu Feb 06, 2020 8:36 am

B-Tender wrote:
Thu Feb 06, 2020 4:30 am
Charliesheen wrote:
Thu Feb 06, 2020 4:18 am
Stapes wrote:
Wed Feb 05, 2020 6:19 pm
Thankfully we get to benefit from the recovery started by Obama despite the trade wars and billionaire tax giveaways..... It would be nice instead of corporate BuyBacks that they increase wages a bit for their employees.
Tranny bathrooms were like crack for the economy. Ditto with an abusive IRS and kale in school lunches. Thanks for reminding us of your Messiah's smooth economic moves.
There was a whole lot of QE though.
I lost my ass. QE saved the big banks, at the expense of the little ones which didnt speculate themselves to the brink.

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CHEEZY17
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Re: Private payrolls soar in January, the best monthly gain in nearly 5 years

#12

Post by CHEEZY17 » Sat Feb 08, 2020 2:45 am

KEY POINTS
Nonfarm payrolls surged 225,000 for the month, well above Wall Street estimates for a 158,000 gain.
The unemployment rate ticked higher to 3.6%, but for the right reason as the labor force participation rate increased 0.2 percentage points to 63.4%, matching its highest level since June 2013.
Average hourly earnings rose 3.1% over a year ago to $28.44, ahead of estimates for 3% growth.

https://www.cnbc.com/2020/02/07/us-nonf ... -2019.html
"Hey fellas, have you you heard the news- you know that Annie's back in town?"

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