See Search Box
lower down this column for searches of Finfacts news pages. Where there may be
the odd special character missing from an older page, it's a problem that
developed when Interactive Tools upgraded to a new content management system.
Welcome
Finfacts is Ireland's leading business information site and
you are in its business news section.
US private sector employment increased by 42,000 from June to July on a seasonally adjusted basis, according to the latest ADP National Employment Report released today. The report is derived from actual payroll data and measures the change in total nonfarm private employment each month.
The US government's monthly report for July will be issued on Friday and is expected to show a fall in total jobs after the 2010 Census workers rejoined the dole queues. “Today’s ADP National Employment Report shows continued weakness in the jobs market, which is in part caused by the uncertainty in the economy and general business climate,” said Gary Butler, CEO of ADP. “American businesses are on the cusp of recovery, but more effective incentives are needed to encourage business investment resulting in the creation of more jobs.”
According to Joel Prakken, Chairman of Macroeconomic Advisers, LLC, “July’s rise in private employment was the sixth consecutive monthly gain. However, over those six months increases have averaged a modest 37,000, with no evidence of acceleration.”
Prakken added, “Unlike the estimate of total establishment employment to be released on Friday by the Bureau of Labor Statistics (BLS), today’s figure does not include the effects of federal hiring - - and now firing - - for the 2010 Census. Hiring for the census peaked in May. For this reason, Friday’s figure for the change in nonfarm total employment reported by the BLS might be weaker than today’s estimate for nonfarm private employment in the ADP Report.”
“July’s ADP Report estimates nonfarm private employment in the service-providing sector rose by 63,000. Employment in the goods-producing sector declined 21,000 during July. Manufacturing employment declined by 6,000, the first decrease in six months. Construction employment dropped 17,000, the smallest decline since November 2007,” said Prakken.
Nonfarm Private Employment Highlights – July Report:
Total employment: +42,000
Small businesses* +21,000
Medium businesses** +21,000
Large businesses*** 0
Goods-producing sector: -21,000
Service-providing sector: +63,000
Addendum:
Manufacturing industry: -6,000
* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees
Insight on employment and manufacturing in America, with Joel Prakken, Macroeconomic Advisers chairman:
