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U.S. Job Growth Soars

Doc Savage Fan

Doc Savage Fan

Lifer
Good news everyone...298,000 jobs!

http://www.foxbusiness.com/markets/2017/03/08/u-s-private-sector-adds-298000-jobs-in-february.html

"February proved to be an incredibly strong month for employment with increases we have not seen in years," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement.

In addition to the construction and manufacturing positions, mining and natural resources also contributed 8,000 to the total. Trump has promised to restore mining jobs as well.

The year is off to a sizzling start for job creation, according to the ADP counts. January added 261,000 positions, a number that was revised upward from the originally reported 246,000.

"Confidence is playing a large role," Mark Zandi, chief economist of Moody's Analytics, told CNBC. "Businesses are anticipating a lot of good stuff — tax cuts, less regulation. They are hiring more aggressively."

Services led the way with 193,000 new jobs, with 66,000 coming from professional and business services. Health care added 38,000 while information-related jobs came to 25,000.​
 
Before we get too excited though

The report, jointly developed with Moody's Analytics, came ahead of the release on Friday of the U.S. Labor Department's more comprehensive employment report. The ADP report, however, has a poor track record predicting the private payrolls component of the government's employment report.
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I'd still expect a good jobs report to come out though.
 
Doc Savage Fan said:
Good news everyone...298,000 jobs!

http://www.foxbusiness.com/markets/2017/03/08/u-s-private-sector-adds-298000-jobs-in-february.html

"February proved to be an incredibly strong month for employment with increases we have not seen in years," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement.

In addition to the construction and manufacturing positions, mining and natural resources also contributed 8,000 to the total. Trump has promised to restore mining jobs as well.

The year is off to a sizzling start for job creation, according to the ADP counts. January added 261,000 positions, a number that was revised upward from the originally reported 246,000.

"Confidence is playing a large role," Mark Zandi, chief economist of Moody's Analytics, told CNBC. "Businesses are anticipating a lot of good stuff — tax cuts, less regulation. They are hiring more aggressively."

Services led the way with 193,000 new jobs, with 66,000 coming from professional and business services. Health care added 38,000 while information-related jobs came to 25,000.​
Click to expand...

Oh god, the Confidence Fairy is back! I thought we had dispensed with that nonsense years ago.

While the tea leaf reading that our good friend Mark is doing is sheer nonsense I hope the report's actual numbers are true as that would be great!
 
Yup.
sgLBh.gif
 
It didn't take long for the Republican led government to turn things around following eight years of disastrous economic decline! Thanks, Trump!
 
If no one hires me then its kinda hard to care.

Same reason I dont give damn about tons of people having insurance. MY insurance now sucks and I am paying 10 times more for any medical work, including simple office visits. And thats assuming I can get an appointment with one of the very few doctors who actually takes my insurance.
 
shortylickens said:
If no one hires me then its kinda hard to care.

Same reason I dont give damn about tons of people having insurance. MY insurance now sucks and I am paying 10 times more for any medical work, including simple office visits. And thats assuming I can get an appointment with one of the very few doctors who actually takes my insurance.
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Well, while I empathize with you (I've been there and done that before with a family of 4 and two mortgages and I know it sucks hard), I'd say it's pretty short-sighted to not "give a damn" about millions of other people (of which you will be one hopefully in the near future).
 
Sonikku said:
It didn't take long for the Republican led government to turn things around following eight years of disastrous economic decline! Thanks, Trump!
Click to expand...
And I imagine that the huge rise in the stock market to record highs since the day after the election is just coincidence as well.
 
fskimospy said:
Oh god, the Confidence Fairy is back! I thought we had dispensed with that nonsense years ago.

While the tea leaf reading that our good friend Mark is doing is sheer nonsense I hope the report's actual numbers are true as that would be great!
Click to expand...

The confidence stuff is overblown, but as someone in the financial services industry involved with strategic planning, I assure you that the prospect of the DOL fiduciary rule going away (or being significantly changed) is a major positive change in our outlook and played a big role in our funding new initiatives for 2017.

I trust the labor dept numbers a whole lot more, lets hope those are in line.
 
Doc Savage Fan said:
And I imagine that the huge rise in the stock market to record highs since the day after the election is just coincidence as well.
Click to expand...

Linking the stock market returns to federal administrations is tenuous at best, and linking them to an administration that hasn't had time to really do anything with significant impact yet is crazy.
 
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