The ADP National Employment Report came out this
It showed private sector employment increased by +215,000 jobs
from November to December. ADP revised their November 2012
report, which reported job gains of +118,000, upward by +30,000
to +148,000 jobs.
Note this monthly ADP jobs number is built to forecast the
final nonfarm payroll number
, after revisions -- not the preliminary number coming out on
Friday of this week.
A monthly job adds number above +200,000 is very welcome news.
It has been ten months since the U.S. economy last broke that
barrier. U.S. employers are clearly teeing up hiring at the
front end of the year.
- A revival in construction jobs, although ADP says
rebuilding after Superstorm Sandy likely lifted this December
construction jobs gain. This is the seventh month in a row for
positive adds to construction. The +39,000 job adds in
construction is the best number since February 2006.
- Financial Activities were up +14,000, a 16
month straight positive run. It was also the best
Financial Activities job add number since March
This pair of sectors usually moves together: One
finances projects; the other builds them. That is the
positive feedback loop that takes the overall macro economy up in
a cyclical fashion.
It was also interesting to see employers above 1000+ employees
added +61,000 jobs, the most of any business size in December.
Big companies adding the most jobs are a good sign for the
global economy. Multi-nationals tend to be the big
It is also good news for the profits and earnings of large cap
What was your take on these numbers?
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