U.S. Job Growth Soars

[Doc Savage Fan]

Good news everyone...298,000 jobs!

http://www.foxbusiness.com/markets/2017/03/08/u-s-private-sector-adds-298000-jobs-in-february.html

"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.​

 

[ivwshane]

Good news indeed!

 

[MomentsofSanity]

Good revisions for January as well. Hopefully the trends continue with jobs being a lagging indicator.

 

[ivwshane]

Before we get too excited though

The report, jointly developed with Moody's Analytics, came ahead of the release on Friday of the U.S. Labor Department's more comprehensive employment report. The ADP report, however, has a poor track record predicting the private payrolls component of the government's employment report.

I'd still expect a good jobs report to come out though.

 

[fskimospy]

Good news everyone...298,000 jobs!

http://www.foxbusiness.com/markets/2017/03/08/u-s-private-sector-adds-298000-jobs-in-february.html

"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.​

Oh god, the Confidence Fairy is back! I thought we had dispensed with that nonsense years ago.

While the tea leaf reading that our good friend Mark is doing is sheer nonsense I hope the report's actual numbers are true as that would be great!

 

[Doc Savage Fan]

Good revisions for January as well. Hopefully the trends continue with jobs being a lagging indicator.

It's good to see lots of optimism in the economy and our future.

 

[ivwshane]

It's good to see lots of optimism in the economy and our future.

Its been moving up and to the right for years now.

 

[zinfamous]

Thanks, Obama!

wait--are we using the same numbers that the Obama administration used, or are we using the "new, approved" numbers to measure jobs? You know, the ones that were not used for Bush, for Clinton, for Bush, for Reagan, etc?

So confused.

 

[First]

Thanks Obama!

 

[Thebobo]

Thanks Obama!

 

[Sheik Yerbouti]

Yup.

 

[jhbball]

Thanks Obama!

 

[Sonikku]

It didn't take long for the Republican led government to turn things around following eight years of disastrous economic decline! Thanks, Trump!

 

[Homerboy]

Always good to hear it on the way up.
Now what the root cause of that increase is the question at hand...

 

[shortylickens]

If no one hires me then its kinda hard to care.

Same reason I dont give damn about tons of people having insurance. MY insurance now sucks and I am paying 10 times more for any medical work, including simple office visits. And thats assuming I can get an appointment with one of the very few doctors who actually takes my insurance.

 

[zinfamous]

If no one hires me then its kinda hard to care.

You should stop applying at Hooters.

 

[Homerboy]

If no one hires me then its kinda hard to care.

Same reason I dont give damn about tons of people having insurance. MY insurance now sucks and I am paying 10 times more for any medical work, including simple office visits. And thats assuming I can get an appointment with one of the very few doctors who actually takes my insurance.

Well, while I empathize with you (I've been there and done that before with a family of 4 and two mortgages and I know it sucks hard), I'd say it's pretty short-sighted to not "give a damn" about millions of other people (of which you will be one hopefully in the near future).

 

[Doc Savage Fan]

It didn't take long for the Republican led government to turn things around following eight years of disastrous economic decline! Thanks, Trump!

And I imagine that the huge rise in the stock market to record highs since the day after the election is just coincidence as well.

 

[UberNeuman]

Why, the market for Trump cheerleaders has jumped two-fold!

lol...

 

[Sonikku]

And I imagine that the huge rise in the stock market to record highs since the day after the election is just coincidence as well.

Of course not. I'm expecting some rich gains and massive windfalls for those on Wall street in the years ahead.

 

[Doc Savage Fan]

Of course not. I'm expecting some rich gains and massive windfalls for those on Wall street in the years ahead.

I'm curious to see how the middle class fares.

 

[Sonikku]

Now that is the question.

 

[fskimospy]

And I imagine that the huge rise in the stock market to record highs since the day after the election is just coincidence as well.

So to be clear you're now attributing stock market performance to the government? You must LOVE Obama then.

 

[Double Trouble]

Oh god, the Confidence Fairy is back! I thought we had dispensed with that nonsense years ago.

While the tea leaf reading that our good friend Mark is doing is sheer nonsense I hope the report's actual numbers are true as that would be great!

The confidence stuff is overblown, but as someone in the financial services industry involved with strategic planning, I assure you that the prospect of the DOL fiduciary rule going away (or being significantly changed) is a major positive change in our outlook and played a big role in our funding new initiatives for 2017.

I trust the labor dept numbers a whole lot more, lets hope those are in line.

 

[Double Trouble]

And I imagine that the huge rise in the stock market to record highs since the day after the election is just coincidence as well.

Linking the stock market returns to federal administrations is tenuous at best, and linking them to an administration that hasn't had time to really do anything with significant impact yet is crazy.