Private-sector employment increased by 217,000 from January to February on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from December 2010 to January 2011 was revised up to 189,000 from the previously reported increase of 187,000.
CredAbility, a nonprofit credit counseling agency in the United States released its CredAbility Consumer Distress Index results for the 2010 fourth quarter. The Index is a quarterly measure tracking the financial condition of the average US household. Although, it found that rising stock prices helped spur growth in consumers’ net worth, lower scores in employment, housing and household budget drove down the overall index. The health of household budgets has declined each quarter in 2010 and is at the lowest level since the first quarter of 2009.
The Conference Board Employment Trends Index™ (ETI) aggregates eight labor-market indicators and although it does not get the same media attention that the Labor Department’s often misleading figures receives, in my opinion remains the most solid gauge for employment trends. The Index increased in January for the fourth consecutive month and now stands at 100.5, up from December’s revised figure of 100.3. The index is up 7 percent from a year ago.
Online advertised vacancies rose 438,000 in January to 4,273,000 according to The Conference Board Help Wanted OnLine™ (HWOL) Data Series. With the January increase, labor demand has risen 1.44 million since the series low point in April 2009. This increase now offsets approximately 80 percent of the 1.76 million drop in ad volume during the 2-year downturn period from April 2007 through April 2009.
Most real estate pundits agree that we will not see significant movement toward recovery of the housing market if and until unemployment is significantly improved. Today we saw what may be a real beginning to that improvement. According to the latest ADP National Employment Report® private-sector employment increased by 297,000 from November to December. That’s more than three times the revised change reported for October to November’s increase of 92,000.
The Conference Board Employment Trends Index™ (ETI) increased in November for the second consecutive month. The index now stands at 99.0, up from October’s revised figure of 97.6. The index is up 9.3 percent from a year ago.
Private-sector employment increased by 93,000 from October to November, according to the latest ADP National Employment Report®. The estimated change of employment from September to October was revised up from the previously reported increase of 43,000 to an increase of 82,000.
Although the employment rate in Ohio was little changed, Ohioans got a psychological the rate fell nominally out of double digits for the first time since March of 2009. Ohio’s unemployment rate was 9.9 percent in October, down slightly from 10.0 percent in September, according to data released by the Ohio Department of Job and Family Services (ODJFS). Ohio’s nonfarm wage and salary employment increased 8,400 over the month, from the revised 5,014,500 in September to 5,022,900 in October.
Conference Board Employment Trends Index (ETI) finally turns north.
The Conference Board Employment Trends Index™ (ETI) increased in October, after a slight decline in September. The index now stands at 98.1, up from September’s revised figure of 97.3. The index is up over 10 percent from a year ago. The ETI was one of only two remaining Leading Economic Indicators tracked by the Conference Board still headed south, that leaves just the CEO Confidence Index which was down 12 points in the third quarter. Even so, the Board predicts weak economic growth well into 2011.
Non-farm payroll added more than twice the jobs predicted.
Although the unemployment rate remained unchanged at 9.6 percent, nonfarm payroll employment increased by 151,000 in October, the U.S. Bureau of Labor Statistics reported today. Since December 2009, nonfarm payroll employment has risen by 874,000.
Private-sector employment increased by 43,000 from September to October on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from August to September was revised up from the previously reported decline of 39,000 to a smaller decline of 2,000.