- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller March 2, 2016
The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls rose 214,000 during February versus 193,000 in January, revised from 205,000. The latest gain was firmer than expectations for a 195,000 rise in the Action Economics Forecast Survey. During the last ten years, there has been a 97% correlation between the change in the ADP figure and the change in nonfarm private sector payrolls as measured by the Bureau of Labor Statistics. The latest report reflects annual benchmark revisions which were modest.
The ADP Research Institute survey is based on ADP's business payroll transaction system covering 411,000 companies and nearly 24 million employees. The data are processed by Moody's Analytics Inc., then calibrated and aligned with the BLS establishment survey data. The ADP data cover private sector employment, not government.
Small businesses led last month's job growth with a 76,000 rise (2.2% y/y) following a 75,000 increase. Large business payrolls also improved 76,000 (2.2% y/y) after a 44,000 gain. Amongst medium-sized employers, payrolls rose 62,000 (1.9% y/y), the weakest rise since November.
Service industry hiring increased 208,000 (2.4% y/y), about the same monthly rate as during the last year. Payrolls in professional & business services increased 59,000 (3.0% y/y) while employment in trade, transportation & utilities industries improved 21,000 (1.7% y/y), though growth recently has softened. The number of financial activities jobs rose a modest 8,000 (1.9% y/y), the weakest increase since July.
The pace of hiring in the goods-producing sector of the economy slackened to 5,000 (0.6% y/y) after two months of much stronger gain. Construction sector employment increased a firm 27,000 (3.7% y/y) while factory sector jobs declined 9,000 (0.1% y/y), the first fall since October.
The ADP National Employment Report data are maintained in Haver's USECON database; historical figures date back to April 2001 for the total and industry breakdown and back to January 2005 for the business size breakout. The expectation figure is available in Haver's AS1REPNA database.
|ADP/Moody's National Employment Report||Feb||Jan||Dec||Feb Y/Y||2015||2014||2013|
|Nonfarm Private Payroll Employment (m/m chg, 000s)||214||193||287||2.1%||2.3%||2.2%||1.9%|
|Small Payroll (1-49)||76||75||109||2.2||2.6||2.1||1.9|
|Medium Payroll (50-499)||62||74||83||1.9||2.3||2.8||2.2|
|Large Payroll (>500)||76||44||95||2.2||1.7||1.6||1.5|