Market Overview

ADP Jobs Reading Very Strong; Payroll Figures Due Out Friday

Share:
ADP Jobs Reading Very Strong; Payroll Figures Due Out Friday

The American non-farm workforce saw accelerated expansion last month to beat estimates by 57 percent and January figures by 21 percent, according to the February ADP National Employment Report released Wednesday.

Franchises created about 17,100 jobs, while small businesses added 104,000 — a figure far surpassing preceding rates of January (62,000), December (18,000) and November (37,000).

Both construction and business services saw swells of 66,000 jobs and were closely followed by technical services (42,000), health and education services (40,000), leisure and hospitality (40,000), health care (38,000) and manufacturing (32,000). No sectors reported net losses.

The general growth accompanied a slight rise in labor costs and a 0.2-percentage-point drop in productivity.

Upcoming Reports

Monthly U.S. jobless claims will be released Thursday morning, and analysts predict a 0.3-percent month-to-month decrease in continuing claims offset by a 5-percent increase in initial claims.

Friday’s payroll figures are expected to yield a slight drop in the unemployment rate from 4.8 percent to 4.7 percent, as well as non-farm payroll expansion of 190,000 over January’s 227,000.

Related Link: Jobs Growth In 2016: How Did We Do?

Related Link: Jobs Report, Fed Meeting Out Of The Way, So Market Seeks New Catalyst

Posted-In: ADP employment reportNews Previews Events Econ #s Trading Ideas Best of Benzinga

 

Related Articles (SPY + SPX)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

The Market In 5 Minutes

Disney's Shareholder Meeting Wednesday: Don't Expect The Agenda To Move The Stock