Job creation posts blowout month in February

maga

“Confidence” played a key role. I believe it is called #MAGA.

Via CNBC: Companies added jobs at a blistering pace in February, with a notable shift away from the service-sector positions that have dominated hiring for years, according to a report Wednesday.

Employment in the private sector surged by 298,000 for the month, with goods producers adding 106,000, ADP and Moody’s Analytics said. Construction jobs swelled by 66,000 and manufacturing added 32,000.

The total shattered market expectations of 190,000, according to economists surveyed by ADP. The blockbuster report also solidified market expectations for the Fed to hike interest rates next week. Probability for an increase jumped to 91 percent after the release, according to the CME.

The report encompassed the first full month under President Donald Trump, who has pledged to rebuild the nation’s aging infrastructure system.

“February proved to be an incredibly strong month for employment with increases we have not seen in years,” Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement.

In addition to the construction and manufacturing positions, mining and natural resources also contributed 8,000 to the total. Trump has promised to restore mining jobs as well.

The year is off to a sizzling start for job creation, according to the ADP counts. January added 261,000 positions, a number that was revised upward from the originally reported 246,000.

“Confidence is playing a large role,” Mark Zandi, chief economist of Moody’s Analytics, told CNBC. “Businesses are anticipating a lot of good stuff — tax cuts, less regulation. They are hiring more aggressively.”

Services led the way with 193,000 new jobs, with 66,000 coming from professional and business services. Health care added 38,000 while information-related jobs came to 25,000.

Job creation was fairly evenly distributed across business size. Companies with 50 to 499 employees added the most with 122,000, while small firms added 104,000 and large contributed 72,000.

In addition to generally positive sentiment expressed through business surveys, the job climate also got a boost from weather.

The big number could cause economists to adjust their expectations for Friday’s key nonfarm payrolls number from the Labor Department. The market currently expects the report to show growth of about 185,000 jobs.

DCG

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14 responses to “Job creation posts blowout month in February

  1. HIRING IMMEDIATELY: McHenry County, IL Monarch Senior Care- Hiring Caregivers to work in client’s homes taking care of Seniors and Veterans. 2 day Live-ins, and short hourly shifts available. http://www.monarchseniorcare.com

    Liked by 1 person

  2. Not trying to be a DEBBIE DOWNER here.
    I would like to see the types of jobs and the ration of part time to full time.

    Obama always bragged about “creating” jobs. Unfortunately, most were part time burger flippers.

    Liked by 3 people

  3. Burger flippin jobs are on the way out…sorta. Wendy’s announced layoffs due to replacing ridiculously high minimum wage paid employees with kiosks. No complaints, no benefits, no excuses, no EEO lawsuits. When they figure out how to get the burgers from the freezer to the grill to the bun to the customer with a machine, the flippers will be gone too.

    Liked by 3 people

  4. You know…come to think of it, from the fake news on the radio, they stopped mentioning the unemployment numbers! Gee, I WONDER WHY. When O dumbo was prez, they would broadcast the unemployment ‘statistics’ every newscast, one time they got excited because the unemployment numbers were down by a whopping .000001 percentage point!

    Liked by 1 person

  5. “But actually, he thought as he re-adjusted the Ministry of Plenty’s figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty’s forecast had estimated the output of boots for the quarter at 145 million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled.”–Orwell, “1984”

    An American citizen, not US subject.

    Liked by 1 person

    • You are presuming that the job figures are lies — on the basis of no evidence.
      I am getting really sick and tired of your oh-so-knowing, always sour, negative comments.
      If you can’t contain yourself, please leave.

      Liked by 2 people

      • My comments are nothing more than reminders to think. The truth is staring all of us in the face, but as Plato observed so long ago, most prefer the comfort of cave wall shadows in lieu of reality, as truth is bright and confusing.

        Those that are able to throw off the brainwashing, notice that it is, and has always been, one lie followed by another dressed up in another. Shamefully, the brainwashed don’t even need a “Winston Smith” to erase the past, they just willingly buy into the lies, or at least into the lies that fit their own pride and ignorance–they willingly submit to and take comfort in what they know is manipulation.

        As to the above article, the sad fact is that they have been lying and obfuscating the true employment numbers for at least 8 years now (And for many years prior), and the “Not In Labor Force” numbers are currently near record numbers. Therefore a wild eyed announcement of “happy days are here again” is at best hilarious. And buying into things going from doom and gloom to roaring in just over three months is ludicrous at best.

        Throw off the chains, its bright and confusing outside, but extremely satisfying to bask in the truth and set one’s own path.

        An American citizen, not US subject.

        Like

  6. I for one am thrilled to death by the good news. Just to throw in some first hand knowledge . . . my niece who works part time for Home Depot says they have more jobs than they can get people to work. Also my nephew was job hunting here in Portland, he landed a job just doing three days of looking. He was using some app on his smart phone, and they had listings for an astronomical amount of jobs. I think we are so Blessed From On High that President Trump and his cabinet.

    God Bless America! God Bless President Donald J Trump!

    P.S. I can hardly wait to send out my post cards to the POTUS. And yes I did write . . . “post cards” with an “s.” If the leftists can stack the deck, so can I . . . I am sending a total of 15 cards. I have already enlisted a number of others to also send cards, which will be in addition to my 15 cards. This effort is being undertaken due to the efforts of our Dr Eowyn! God Bless her in her continued efforts of looking to the spiritual needs of the FOTM family!

    Liked by 3 people

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