U.S. private-sector jobs up 110,000 in October

Discussion in 'Economics' started by ASusilovic, Nov 2, 2011.

  1. WASHINGTON (MarketWatch) — Private-sector payrolls moderately increased in October, led by the services-producing sector and small businesses, according to the ADP employment report released Wednesday.

    Payrolls rose 110,000, as services employment gained 114,000 and goods-producing employment fell 4,000. Economists had expected an overall gain of about 100,000.

  2. wartrace


    Another 40 to 50 thousand and job growth might just keep up with new entrants to the labor force.......
  3. achilles28


    Yup. Discount the numbers by the deficit (1.6 trillion, per year), and they don't look so hot. Then consider we lost 6-7 million jobs during the big R, and only gained back around 500K. Hence the unemployment rate. Who cares.
  4. pupu


    Market seems thrilled about it

    Totally forgot the the Greek thing from yesterday
  5. achilles28


    Ya but....

    the market isn't the best indicator of economic health. DJIA gained 70% with terrible employment numbers, the entire way up...
  6. heypa


    That is because it (the market) is forward looking and correctly predicts the future.
    Hallelujah ! We are saved!!!!!!!!!!!!!!
  7. achilles28


    haha . At what point do the "forward-looking" predictions materialize?
    :eek: :eek: :D
  8. achilles28


    I suppose it could be argued the stock market is more a barometer of corporate health rather than domestic employment. Seeing that earnings are relatively good, while 50% of revenues from listed corps originate overseas. Maybe it should be renamed the HangsengS&P Composite? :D
  9. Wow...100k jobs? Now we just need to keep that up for the next 12 years and everyone will have a job. (except for those pesky teens that come into the workforce when they turn 18)
  10. heypa


    Service sector by far the biggest gainer!
    Great way to build our GDP.
    Why don't we all just mow each others lawns?
    Congress should just pass a law making it unlawful for anyone to do anything that could be accomplished by a commercial entity.
    That should boost jobs in the private sector!
    #10     Nov 3, 2011