Report Shows Private Employers Added 179,000 jobs

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Advertise on NYTimes.com.Report Shows Private Employers Added 179,000 Jobs in AprilBy REUTERS
Published: May 4, 2011
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LinkedinDiggMySpacePermalink. Private employers in the United States added 179,000 jobs in April, while the pace of growth in the services sector unexpectedly eased in April to its lowest level since August 2010, according to economic reports released on Wednesday.

In the jobs report, the ADP Employer Services report fell short of economists’ expectations for a gain of 198,000, according to a Reuters survey. March private payrolls were revised up to an increase of 207,000 from a previously reported 201,000.

The figures come ahead of the government’s much more comprehensive labor market report on Friday, which includes both public and private sector employment.

“Certainly people will look into this and be pessimistic or cautious about Friday’s numbers,” said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, N.Y.

“The breakdown from the release did show some strength in small and medium businesses. The weakness was actually in large businesses, and that is unusual. But certainly optimistic for a broader strengthening in employment.”

Friday’s report is expected to show a rise in overall nonfarm payrolls of 186,000 in April, based on a Reuters poll of analysts, and a gain of 200,000 in private payrolls.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome. The report is jointly developed with Macroeconomic Advisers.

In other report, the Institute for Supply Management said its services index fell to 52.8 last month from 57.3 in March. That was well below economists’ forecasts for 57.4, according to a Reuters survey.

A reading above 50 indicates expansion in the sector.

The report’s new orders index tumbled to its lowest level since December 2009, falling to 52.7 from 64.1. The employment gauge dipped to 51.9 from 53.7.

“It’s a weak indication not only in the headline figure, but also in the worst possible place: the orders component,” said Pierre Ellis, senior economist at Decision Economics. “This is a sector that is supposed to be relatively smooth in terms of growth so if it turns out to be more than transitory, this would be a clear indication of de-stabilization in the economy.”

Reference: http://www.nytimes.com/2011/05/05/business/economy/05econ.html

Sorry, I shouldn't be happy to read something like that, but until our crisis hits all sectors of the economy, no one is going to listen. It is sad that it has to come to that.

If unemployment benefits were extended, and in your case, EB continued, that would put back between $1.70 and $1.90 into the economy for every dollar paid to the unemployed.

You and me both, we are a disgrace!

Lets see 179k jobs, 15 million or more unemployed. At this rate it would take 5-6 yrs to get out of this, permitting we dont hit a double dip..

Jobless_in_Ma wrote:Lets see 179k jobs, 15 million or more unemployed. At this rate it would take 5-6 yrs to get out of this, permitting we dont hit a double dip..

That would be 179,000 jobs in a MONTH. Almost each week in April there were 400,000 or more First Time Unemployment claims. This number of jobs is supposed to be good news? I can't figure this out at all!

Thats 1.6 million per month new claims...

Jobless_in_Ma wrote:Thats 1.6 million per month new claims...

I was never good math, maybe that's why I can't see what is so good about 179,000 jobs in a month.

DesperateInRI wrote:

Jobless_in_Ma wrote:Thats 1.6 million per month new claims...

I was never good math, maybe that's why I can't see what is so good about 179,000 jobs in a month.

Yeah, 179,000 jobs A MONTH for 9 consecutive months and then they can say something about it. hell we were losing 750,000 a month in the beginning, yet they herald 179,000 in just 1 month AS a saving grace. These fools just continue to crunch numbers and propagandize the news to fool everybody.

economist said the new job creations were lower than they expected.

I think a lot of the layoffs are public employees that states are cutting out of their budgets

Don't worry guys, U.S. Senator Rob Portman (R-Ohio) unveiled the Senate Republican Jobs Plan yesterday. It's good for toilet paper and that's about it. The plan reads like a tea potty forum minus the camps. Ever notice how these bills are named the exact opposite of what they really are? Now the GOTP can run around hollering they finally have a jobs bill.

Require a Balanced Budget Amendment to the Constitution.
Require a Statutory Spending Limit.
Cut Spending to Immediately and Substantially Reduce Deficits.
Simplify and Reduce Business and Individual Tax Rates.
Make Research and Development Tax Credit Permanent.
Extend and Make Permanent the Small Business Investment Tax Incentive.
Reduce Taxes on Capital Gains and Dividends.


http://www.wkyc.com/news/article/188343/16/Portman-unveils-US-Senate-Republican-Jobs-Plan

"Families and small businesses are weighed down by record debt and deficit, high taxes, burdensome regulations, and a costly health care plan that raises costs and reduces coverage. This approach by Washington adds uncertainty for investors and costs for job creators. The Senate Republican Jobs Plan puts us on a path to an environment where families and small businesses can succeed, not just get by,"