ADP Surprises to the Upside

Filed in BP, economy, Gold, Gold Market, Gold Prices, housing-market, o, RBC Capital by on January 5, 2011 0 Comments

Here’s one for the bulls. ADP has surprised to the upside this morning. Are happy days here again? Only time will tell. Either way, more jobs beats fewer jobs any day of the week. From Reuters by Jonathan Spicer entitled: Surprise Jobs surge boost economic outlook “A surprise surge in private-sector employment last month to its highest level on record provided the most bullish signal in months that the economy is slowly mending. Private employers added 297,000 jobs in December, triple the median estimate by economists and up from the gain of 92,000 in November, an ADP Employer Services report showed on Wednesday. “You cannot ignore the strength of this report,” Tom Porcelli, a U.S. economist at RBC Capital Markets. “With small business now beginning to start to ramp up hiring, it’s safe to feel better about the labor backdrop.” Adding to the rosy picture, the number of planned layoffs at U.S. firms fell last month to the lowest level in 10 years, according to a report by consultants Challenger, Gray & Christmas Inc. The ADP figures came ahead of the government’s much more comprehensive labor market report due on Friday, which will include both public and private sector employment. That report is expected to show a rise in overall nonfarm payrolls of 140,000 in December, based on a recent Reuters poll of analysts, but a rise in private payrolls of 145,000. Economists often use the ADP report to fine-tune their forecasts for the payrolls numbers, though it is not always accurate in predicting the outcome.” All eyes have now shifted to the Friday BLS number…. Related Articles: The Top 25 Financial Stories of 2010 2011 Housing Market Forecast Case-Shiller Index Screams Housing Double Dip Zandi: Expect 8% Home Price Declines To learn more about Wealth Daily click here Advertisement This Metal Humiliates Gold It took gold prices an entire decade to make investors 387%. … But experts believe that this little-known metal could hand you more than four times your money in the next couple of months! Click here to find out how. ADP Surprises to the Upside originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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ADP Surprises to the Upside

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