US companies add 110,000 jobs in October

[alp227]

Source: Financial Times

US companies added more jobs than expected in October while planned lay-offs fell to the lowest level in four months in a sign that the job market is stabilising, though at a weak level of activity.

The private sector added 110,000 jobs last month, beating economists’ estimates of 100,000 new positions, and September’s total was revised up to 116,000 from 91,000, according to ADP, the payroll processor.

“The good news is that employment growth appears stable, but the bad news is that gains of 100,000 or slightly less a month won’t be sufficient to reduce the unemployment rate or generate a pick-up in income growth,” said Paul Ashworth, chief US economist at Capital Economics.

Analysts were looking to the US labour department’s non-farm payrolls report, due on Friday, to see whether the boost in economic growth seen in the third quarter will be reflected in hiring trends.

Read more: http://www.ft.com/intl/cms/s/0/741c3d2e-0553-11e1-b8f4-00144feabdc0.html

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google the title for full article

[dmallind]

1. This is ADP input - only somewhat correlated to the official.

What we have to consider here is that there are two competing exclusions to this survey. One that ADP often underestimates small company hiring, and two that it completely ignores the public sector, which is bleeding jobs fairly profusely.

My guess is not more than a guess, but I suspect we'll see private sector gains above that number on Friday, with public sector losses. Whether the latter will bring the former back below 110k or not as a net total I have no idea, but gut feel says no. We'll see in two days.

[JDPriestly]

2. I hope. I hope. I hope that this is true and starts a trend.

[dotymed]

3. I hope that they are living wage jobs with insurance.

most of the corporations hire "part-time" workers so they don't have to provide benefits. Our government does this too. They label the job as part time even if you work 40 hours a week, or they label the job as temporary and therefore....,no benefits.

AAFES, which is a governmental-non government contractor(?) is famous for that in this area. They manage all of the stores and recreational businesses on military installations and have for decades.

[DeSwiss]

4. Financial Times = Oligarch's Rag. n/t

[NickB79]

5. Still below break-even numbers again, I see

Can't even keep up with population growth. How sad.

[Steerpike]

6. Well...

I just got laid off last week. So my perspective is a little less positive.

[jtuck004]

7. Sorry for that.

I hope you were able to make some plans, that it wasn't a real surprise.

[Psephos]

8. The bad news is that Halloween City closes in November. n/t

[Major Hogwash]

9. While corporations sit on $2 Trillion dollars, not creating even more jobs!!!

We need to use the anti-trust laws to break up those big corporations and big banks.

Problem: Too big to fail??
Solution: Break 'em into smaller units!