ADP said 32k private sector jobs were added in April, about in line with expectations of 30k and March was revised to a gain of 19k from the initial reading of -23k. The service sector was the main driver of job gains as it added 50k jobs with half coming from small businesses. Manufacturing also helped by adding 29k jobs. Construction though shed 49k jobs and the sector has now lost 2.16mm jobs since the high in Jan ’07. The financial services sector payrolls fell by 14k. Bottom line, as has been seen from the initial claims data, net firings have ended but the pace of hiring, while improved, still remains muted. Friday’s government payroll report will include public sector census workers and the estimated total job gain is 189k, 100k of which is expected to be private sector jobs.
April ADP job gain about in line and March revised to + #
May 5, 2010 8:38am by
This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/
Posted Under
UncategorizedPrevious Post
All the goings onNext Post
ISM services very good but can it last?