ADP: Jobs increased in October
Today, private staffing and business services firm released the indicating that the situation for private employment in the U.S. improved slightly in October as private employers added 43,000 jobs in the month leaving the total employment level just 0.04% below the level seen in October 2009.
Goods-producing firms fared a bit worse losing on net 34,000 jobs while service-providing firms added 77,000 jobs nationwide.
Looking at the chart ( for full-screen dynamic version) showing ADP鈥檚 total private nonfarm payrolls since 2001 as well as the year-over-year and month-to-month percent change, you can see that the so-called 鈥渞ecovery鈥� has been anemic.
Perusing it鈥檚 obvious that our economy faces some significant headwinds coming from the job market with continually collapsing goods-producing payrolls and feeble trends service-producing payrolls.
Look for Friday鈥檚 BLS Employment Situation Report to likely show somewhat similar trends.
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