- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
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)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller March 8, 2017
The ADP/Moody's National Employment Report indicated that private nonfarm payroll employment increased 298,000 (1.9% y/y) during February, the largest rise since April 2014. It followed a 261,000 January gain, revised from 246,000, and a 201,000 increase during December, revised from 151,000. Expectations had been for a 195,000 February rise in the Action Economics Forecast Survey. During the last ten years, there has been a 96% 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 Automatic Data Processing 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 only.
Small-sized business payrolls increased 104,000 (1.5% y/y), the strongest rise since June. Hiring by medium-sized businesses rose 122,000 (1.9% y/y), the firmest increase since January 2014. Large-sized businesses posted a slightly reduced 72,000 increase in jobs (2.6% y/y).
Service-producing payrolls increased 193,000 (2.0% y/y) after a 207,000 rise. Professional & business payrolls rose 66,000 (2.9% y/y), the strongest gain since April 2014. Employment in education & health services increased 40,000 (2.4% y/y), while leisure & hospitality employment also rose 40,000 (2.1% y/y). Jobs in trade, transportation & utilities rose a weakened 9,000 (1.3% y/y). Financial sector payrolls rose 4,000 (1.9% y/y), but January's rise was revised up sharply to 21,000.
Goods-producing employment surged a record 106,000. Construction industry employment jumped 66,000 (3.4% y/y), the largest rise since February 2006. Hiring in the factory sector strengthened 32,000 (0.4% y/y), the strongest increase since March 2012.
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||2016||2015||2014|
|Nonfarm Private Payroll Employment (m/m chg, 000s)||298||261||201||1.9%||1.9%||2.3%||2.2%|
|Small Payroll (1-49)||104||79||38||1.5||2.0||2.5||2.1|
|Medium Payroll (50-499)||122||101||87||1.9||1.8||2.2||2.6|
|Large Payroll (>500)||72||81||76||2.6||2.1||2.0||1.9|