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☆ Private sector added twice as many jobs as expected in October
  + stars: | 2024-10-30 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +4 min
CNN —Private sector hiring blew past expectations in October, another sign that the US labor market remains on solid footing, payroll processor ADP reported Wednesday. Non-governmental employers added 233,000 jobs in October, a sharp acceleration from the 159,000 net increase reported for September, according to ADP’s latest National Employment Report. Wednesday’s gains throttled economists’ expectations for job growth to slow to a mere 108,000 jobs from the initial estimate of 143,000, FactSet estimates show. Pantheon Macroeconomics is sticking with its forecast of 100,000 payroll gains, according to an investors note sent Wednesday. And while a resurgence in the labor market could raise concerns about a reacceleration in inflation, October’s ADP data showed otherwise, Richardson said.
Persons: Nela Richardson, Hurricane Helene, ADP’s tabulations, ” Richardson, Richardson, “, Irma, ” Samuel Tombs, Milton …, Wednesday’s, ” Organizations: CNN, ADP, Boeing, Labor Department, of Labor Statistics, Pantheon, Companies, Federal Reserve Locations: Hurricane Milton, Carolina, Florida, Milton, South Atlantic
☆ What to expect in Friday’s jobs report
  + stars: | 2024-03-07 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
New York CNN —Don’t be surprised if Friday’s jobs report shows that February’s employment gains were far below those reported for January. In fact, it would continue a history-making stretch of labor market expansion. Friday’s jobs report could very well provide a more reliable read on what’s actually happening in the labor market than the jobs reports of recent months’ past, Julia Pollak, chief economist at ZipRecruiter, told CNN. “And so, February might give us a better understanding of the underlying rate of job growth,” she said. What the other labor market data is showingOther economic data released this week reinforces the idea that the US labor market is cooling but remains on solid footing.
Persons: New York CNN — Don’t, Julia Pollak, autoworkers, what’s, hasn’t, Nixon, ” Ron Hetrick, Gus Faucher, stayers ”, Faucher, ”, ” Nela Richardson, outplacement, ” Andrew Challenger, Lydia Boussour, EY, “ Organizations: New, New York CNN, CNN, of Labor Statistics, PNC Financial Services, BLS, Labor, Boomers, ADP, Challenger, ”, Labor Department Locations: New York, US
☆ The Fed cares a lot about jobs data — but it may be getting mixed signals
  + stars: | 2023-09-04 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +7 min
The answer matters a lot to Federal Reserve officials who closely monitor the labor market. Some Fed officials believe more rate hikes are needed to cool the labor market. But the gap between ADP and BLS data does not automatically narrow when comparing ADP to BLS estimates of only private-sector jobs. Between the two, it’s difficult to say which is a better predictor of the true state of the labor market. Ultimately, ADP and BLS data “become checks on each other,” she told CNN.
Persons: It’s, ” Nela Richardson, Richardson, Sarah House, ”, Erica Groshen, Groshen, ” Richardson, House, “ Organizations: New, New York CNN, of Labor Statistics, ADP, BLS, Federal Reserve, Fed, CNN, Bureau of Labor Statistics, Cornell University Locations: New York, Wells Fargo, “, United States
☆ ‘We’re at a tipping point:’ What to expect from the jobs report
  + stars: | 2023-04-07 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. ET Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is set to release its March jobs report at 8:30 a.m.
☆ ‘We’re at a tipping point:’ What to expect from the jobs report on Friday
  + stars: | 2023-04-06 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. Just how much of a shift there is could become even clearer on Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is expected to release its March jobs report on Friday at 8:30 a.m.
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