U.S. private-sector jobs up 110,000 in October

[ASusilovic]

WASHINGTON (MarketWatch) — Private-sector payrolls moderately increased in October, led by the services-producing sector and small businesses, according to the ADP employment report released Wednesday.

Payrolls rose 110,000, as services employment gained 114,000 and goods-producing employment fell 4,000. Economists had expected an overall gain of about 100,000.

http://www.marketwatch.com/story/us...n-october-2011-11-02?link=MW_home_latest_news

 

[wartrace]

Another 40 to 50 thousand and job growth might just keep up with new entrants to the labor force.......

 

[achilles28]

Yup. Discount the numbers by the deficit (1.6 trillion, per year), and they don't look so hot. Then consider we lost 6-7 million jobs during the big R, and only gained back around 500K. Hence the unemployment rate. Who cares.

 

[pupu]

Market seems thrilled about it

Totally forgot the the Greek thing from yesterday

 

[achilles28]

Ya but....

the market isn't the best indicator of economic health. DJIA gained 70% with terrible employment numbers, the entire way up...

 

[heypa]

That is because it (the market) is forward looking and correctly predicts the future.
Hallelujah ! We are saved!!!!!!!!!!!!!!

 

[achilles28]

haha . At what point do the "forward-looking" predictions materialize?
:eek: :eek:

 

[achilles28]

I suppose it could be argued the stock market is more a barometer of corporate health rather than domestic employment. Seeing that earnings are relatively good, while 50% of revenues from listed corps originate overseas. Maybe it should be renamed the HangsengS&P Composite?

 

[peilthetraveler]

Wow...100k jobs? Now we just need to keep that up for the next 12 years and everyone will have a job. (except for those pesky teens that come into the workforce when they turn 18)

 

[heypa]

Service sector by far the biggest gainer!
Great way to build our GDP.
Why don't we all just mow each others lawns?
Congress should just pass a law making it unlawful for anyone to do anything that could be accomplished by a commercial entity.
That should boost jobs in the private sector!