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2020-02-05 Economy
Private payrolls soar in January, the best monthly gain in nearly 5 years
Had to kill CNBC to announce this. They'll "pounce" on any data showing the Coronavirus has cooled the next round...oh, wait. Only Republicans "pounce".
[CNBC] The jobs market kicked off 2020 in grand fashion, adding 291,000 in private payrolls for the best monthly gain since May 2015, according to a report Wednesday from ADP and Moody's Analytics.

That was well above the 150,000 estimate from economists surveyed by Dow Jones and more evidence that the U.S. still is a good distance from full employment even with the jobless rate at its lowest point in more than 50 years. The total also was a sharp gain from the 199,000 in December, which was revised down 3,000 from the initial count.

Growth came across a swath of industries.

Leisure and hospitality led with 96,000 new jobs, but education and health services also contributed 70,000 and professional and business services added 49,000. On the goods-producing side, construction rose by 47,000, the best growth since the 62,000 added in January 2019, and manufacturing was up 10,000, the biggest monthly gain since last February.

In all, services added 237,000 positions compared with 54,000 for goods producers. Trade transportation and utilities rose by 8,000, while the information and financial activities sectors contributed 2,000 apiece. Natural resources and mining was the sole loser with a drop of 2,000.
Weather helps
Damn that Trump and his clever weather controls!
"It's juiced by very mild winter weather," said Mark Zandi. "The fingerprints of that are all over this report."
Yet another disaster caused by global warming, amirite?
Leisure and hospitality and construction are both weather-sensitive and got boosts from the higher than normal temperatures and low precipitation.
Posted by Frank G 2020-02-05 10:15|| || Front Page|| [11138 views ]  Top

#1 The figure represents the strongest gain in five years and was far above the 150,000 forecast.
Posted by Frank G 2020-02-05 10:49||   2020-02-05 10:49|| Front Page Top

#2 Lower income taxes and less rent-seeking and the employment rate can climb much higher.
Posted by Bright Pebbles 2020-02-05 11:30||   2020-02-05 11:30|| Front Page Top

#3 But for all the wrong people - gender studies graduates still wait tables.
Posted by g(r)omgoru 2020-02-05 16:20||   2020-02-05 16:20|| Front Page Top

#4 and the dow is up 487 today

Posted by Chris 2020-02-05 16:42||   2020-02-05 16:42|| Front Page Top

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