Thursday, February 3, 2011

ADP + 187,000

From ADP

Private-sector employment increased by 187,000 from December to January on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from November to December was revised down by 50,000 to 247,000 from the previously reported increase of 297,000. This month’s ADP National Employment Report suggests solid growth of private nonfarm payroll employment heading into the New Year. The recent pattern of rising employment gains since the middle of last year appears to be intact, as the average gain over December and January (217,000) is well above the average gain over the prior six months (52,000). Strength was evident within all major industries and across all size business tracked in the ADP Report.

This was another strong report this week. We've had two great reports from the manufacturing sector and now a report that shows employment growth.

The downward revision is disappointing, but its still in the 250,000 range, meaning its still a win.