Private sector adds 263,000 jobs in March: ADP

[mahatmakanejeeves]

Source: MarketWatch

Private sector adds 263,000 jobs in March: ADP

Published: Apr 5, 2017 8:54 a.m. ET

Employment was much stronger than consensus of 170,000

By
Greg
Robb

Senior economics reporter

Private-sector employment continued at a torrid pace in March, according to data released Wednesday morning. ... Employers added 263,000 private sector jobs last month, up from a revised 245,000 in February, ADP Inc. reported.

The increase in March was above expectations. Economists polled by Econoday had forecast a March gain of 170,000 jobs compared with an original estimate of 298,000 for February.

{snip interactive chart}

According to ADP, professional and business sectors added 57,000 jobs and leisure and hospitality added 55,000. There was another strong month for the construction industry, where 49,000 jobs were added, and the manufacturing sector added 30,000 positions.

Economists use ADPs data to get a feeling for the U.S. Labor Departments employment report, which will be released Friday and covers government jobs in addition to the private sector. Economists polled by MarketWatch expect the governments report to show nonfarm employment rose by 178,000 jobs last month, compared with a February gain of 235,000 jobs. ... ADP calculates the data by using its own payrolls information, as well as unspecified other factors.
....

Greg Robb is a senior reporter for MarketWatch in Washington. Follow him on Twitter @grobb2000.
https://twitter.com/grobb2000

Email Greg at [e-mail]

Read more: http://www.marketwatch.com/story/private-sector-adds-263000-jobs-in-march-adp-2017-04-05

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ADP National Employment Report
March 2017

https://www.adpemploymentreport.com/2017/March/NER/NER-March-2017.aspx

ADP National Employment Report: Private Sector Employment Increased by 263,000 Jobs in March

Private-sector employment increased by 263,000 from February to March, on a seasonally adjusted basis.

* * * * *

Economists polled by MarketWatch expect the government's report to show nonfarm employment rose by 178,000 jobs last month, compared with a February gain of 235,000 jobs.

Previously at DU:

Payroll employment rises by 235,000 in February; unemployment rate changes little at 4.7%
http://www.democraticunderground.com/10141724991

ADP National Employment Report: Private Sector Employment Increased by 298,000 Jobs in February
http://www.democraticunderground.com/10141723252

Payroll employment rises by 227,000 in January; unemployment rate changes little (4.8%)
http://www.democraticunderground.com/10141689268

ADP National Employment Report: Private Sector Employment Increased by 246,000 Jobs in January
http://www.democraticunderground.com/10141686121

[NewJeffCT]

1. Thanks Obama

more good news from the Obama economy...

[George II]

2. Damn you're quick! Let's see how this is maybe three or four months from now.

[NewJeffCT]

3. The federal fiscal year

starts on October 1, so it will officially be the Trump economy then.

I'm sure Trump is already taking credit for this job increase, though.

[George II]

4. He did in January and February.

[former9thward]

10. The economy does not have anything to do with the federal fiscal year.

[NewJeffCT]

11. a new budget should be in place by 10/1

filled with huge cuts to federal agencies, tax cuts for the rich and for big corporations as well and big increases in defense spending. the lack of money and exploding deficits will then cause the markets to crash and the economy with it.

[former9thward]

12. Yes, we were told on election night the market would crash 20% the day after Trump's election.

Forgive me but I never take stock market predictions on DU. They have never been right.

[NewJeffCT]

13. DU predictions

are different than actual history

Trump is doing what Bush Jr did - big tax cuts for the wealthy and increased defense spending leading to exploding debt and deficits. On top of what Bush Jr did, he's also slashing federal budgets and the federal workforce will follow, which will lead to increased unemployment and decreased consumer spending. If he also cuts taxes on big corporations, the increased debt and deficits will make Bush Jr look miserly in comparison. Bush Jr took a soaring stock market and it was basically flat for 8 years.

The same with Reagan - his first big act was slashing taxes for the wealthy. The big decline in federal income receipts led to exploding deficits and a big recession and diving stock markets in the early 80s. One of the ways the US wielded power after World War 2 was that we were a net creditor nation and we could use our financial strength and holding of the debts of other country to wield political power. Reagan changed us to a net debtor nation and we have been one ever since. The economy didn't recover until 1983 when Reagan signed the largest tax increase in history into effect and that helped stabilize the economy.

Trump has not been competent enough to push all that through yet, but if some of the proposals do make it through... it will devastate the economy.

[Bengus81]

5. One thing that helps is 70 degree temps when it should be 30.....

We never had winter here in south central Kansas. We had one blast a week before Christmas and that was it. I was watering and putting down grass seed in mid-Feb when I should be shoveling snow.

Tree trimmers and lawn services started up at least a month early.

[onenote]

7. Isn't this a "net" jobs report

If so, it can't be a reflection of some people leaving their jobs and others replacing them.

[notdarkyet]

9. Ok, sorry, my bad.

[NoMoreRepugs]

8. hiring decisions to expand workforce normally are made thru longer term planning - not

a month to month decision other than a new company/business start-up. Thank u President Obama for building this employment momentum.