ADP Estimates US Companies Added 201000 Jobs in March

[mahatmakanejeeves]

Source: Bloomberg

By Bob Willis - Mar 30, 2011 8:55 AM ET

Companies in the U.S. added more workers in March, a sign the labor market may be strengthening, data from a private report based on payrolls showed today.

Employment increased by 201,000 workers in March after a revised 208,000 gain in February, according to figures from ADP Employer Services. The median estimate in the Bloomberg News survey called for a 208,000 gain.

Gains in capital investment and consumer spending are prompting companies like General Motors Co. (GM) to boost staff, helping the U.S. weather the highest energy prices in more than two years. Businesses added 210,000 jobs in March and the jobless rate held 8.9 percent, economists project a Labor Department report to show in two days.

“This data is pointing to a turnaround in labor-market conditions,” Joel Prakken, chairman of Macroeconomic Advisers LLC in St. Louis, which produces the report in conjunction with ADP, said in a conference call with reporters. “It’s pretty clear that employment now has in fact accelerated. Equally encouraging is the breadth of the strength.”

Read more: http://www.bloomberg.com/news/2011-03-30/u-s-companies-added-201-000-jobs-in-march-fewer-than-estimated-adp-says.html

[MineralMan]

1. Well, some will no doubt see this a some sort of bad news

and unrecommend your post. Looks like good news to me. Recommended.

[RedCloud]

2. More bad news for the USA hating republicans.

[Judi Lynn]

3. US firms report solid jobs growth

US firms report solid jobs growth
– 2 hrs 52 mins ago

WASHINGTON (AFP) – US companies added 201,000 jobs to their payrolls in March, according to data released Wednesday, less than expected but nonetheless a solid bump for employment growth, analysts said.

Payrolls firm ADP reported private companies added 3.4 percent fewer jobs this month compared with February's revised level. Most experts had predicted payrolls would grow by 210,000.

But coming on two previous months of over-200,000 figures, ADP said, the data "removes any remaining doubt that private nonfarm payroll employment accelerated heading into 2011."

Analysts at RDQ Economics called the figure positive news, even though it hinted at a slight slowdown in the pace of jobs growth.

More:
http://news.yahoo.com/s/afp/20110330/bs_afp/useconomyunemploymentadp_20110330130818

[mahatmakanejeeves]

4. From the article:

General Motors is among companies taking on more staff to meet increased demand. The Detroit-based company will recall the last of its laid-off workers by September, United Auto Workers Vice President Joe Ashton said last week.

“We only have about 2,000 people now laid off and those people will all be back to work in September,” Ashton, who handles negotiations with GM, told union workers at the UAW’s Special Convention on Collective Bargaining in Detroit.