Despite all the naysayers keep

2023-05-03

Despite all the naysayers keep on brainwashing us with the talk of inevitable recession due to US bad economy conditions, times and times again, the figures keep showing otherwise, the US economy is indeed and proving to be the most resilient and vibrant economy of the world, with the next power engine of growth coming from the likes of ChatGPT. On the other hand, the media and the so called experts eg. Dr W and AK keep on

Private Payrolls Surged By 296,000 in April, Much Higher Than Expected, ADP Says

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Comments

CYKuan
2023-05-03
CYKuan
thanks for sharing
BoonL
2023-05-03
BoonL
ok
peng321
2023-05-03
peng321
[Strong]
Tiger Lim
2023-05-03
Tiger Lim
Good
sokoon0121
2023-05-03
sokoon0121
Hhj
Btyc
2023-05-03
Btyc
Ok

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Dr W and AK keep on&nbsp;</body></html>","htmlText":"<html><head></head><body>Despite all the naysayers keep on brainwashing us with the talk of inevitable recession due to US bad economy conditions, times and times again, the figures keep showing otherwise, the US economy is indeed and proving to be the most resilient and vibrant economy of the world, with the next power engine of growth coming from the likes of ChatGPT. On the other hand, the media and the so called experts eg. Dr W and AK keep on&nbsp;</body></html>","text":"Despite all the naysayers keep on brainwashing us with the talk of inevitable recession due to US bad economy conditions, times and times again, the figures keep showing otherwise, the US economy is indeed and proving to be the most resilient and vibrant economy of the world, with the next power engine of growth coming from the likes of ChatGPT. On the other hand, the media and the so called experts eg. Dr W and AK keep on","highlighted":2,"essential":1,"paper":1,"likeSize":17,"commentSize":11,"repostSize":1,"favoriteSize":0,"link":"https://ttm.financial/post/9947644731","repostId":1153791678,"repostType":2,"repost":{"id":"1153791678","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1683116818,"share":"https://www.laohu8.com/m/news/1153791678?lang=&edition=full","pubTime":"2023-05-03 20:26","market":"us","language":"en","title":"Private Payrolls Surged By 296,000 in April, Much Higher Than Expected, ADP Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1153791678","media":"Tiger Newspress","summary":"Private payrolls rose by 296,000 for April, above the downwardly revised 142,000 the previous month ","content":"<html><head></head><body><ul><li>Private payrolls rose by 296,000 for April, above the downwardly revised 142,000 the previous month and well ahead of the estimate for 133,000.</li><li>The fastest job growth in April came in leisure and hospitality with a gain of 154,000, followed by education and health services (69,000) and construction (53,000).</li><li>The financial sector lost 28,000 jobs for the month. Manufacturing also took a hit, losing 38,000 jobs.</li></ul>Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead, payroll processing firm ADP reported Wednesday.Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. The gain was the highest monthly increase since July 2022.The surge comes despite Federal Reserve efforts to slow economic growth and in particular to tame a powerful labor market that has added more than 800,000 jobs this year by ADP’s count. An imbalance of demand over supply in the labor market has created strong wage gains that are reflected in persistent inflation pressures.One positive sign for the Fed is that annual pay rose 6.7% over the past year, a deceleration from gains that had been consistently coming in above 7%.“The slowdown in pay growth gives the clearest signal of what’s going on in the labor market right now,” ADP chief economist Nela Richardson said. “Employers are hiring aggressively while holding pay gains in check as workers come off the sidelines.”The firm’s report serves as a precursor to the Labor Department’s more closely watched nonfarm payrolls count due out Friday. Economists surveyed by Dow Jones expect that report to show an increase of 180,000 following March’s 236,000. The two reports often differ, sometimes by large margins.According to ADP, the fastest job growth in April came in leisure and hospitality with a gain of 154,000, followed by education and health services (69,000) and construction (53,000). Other sectors posting solid gains included natural resources and mining, with 52,000, and trade, transportation and utilities, which added 32,000.The financial sector, beset by a deposit run that has led to the closure of three regional banks, lost 28,000 jobs for the month. 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Manufacturing also took a hit, losing 38,000 jobs.</li></ul>Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead, payroll processing firm ADP reported Wednesday.Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. The gain was the highest monthly increase since July 2022.The surge comes despite Federal Reserve efforts to slow economic growth and in particular to tame a powerful labor market that has added more than 800,000 jobs this year by ADP’s count. An imbalance of demand over supply in the labor market has created strong wage gains that are reflected in persistent inflation pressures.One positive sign for the Fed is that annual pay rose 6.7% over the past year, a deceleration from gains that had been consistently coming in above 7%.“The slowdown in pay growth gives the clearest signal of what’s going on in the labor market right now,” ADP chief economist Nela Richardson said. “Employers are hiring aggressively while holding pay gains in check as workers come off the sidelines.”The firm’s report serves as a precursor to the Labor Department’s more closely watched nonfarm payrolls count due out Friday. Economists surveyed by Dow Jones expect that report to show an increase of 180,000 following March’s 236,000. The two reports often differ, sometimes by large margins.According to ADP, the fastest job growth in April came in leisure and hospitality with a gain of 154,000, followed by education and health services (69,000) and construction (53,000). Other sectors posting solid gains included natural resources and mining, with 52,000, and trade, transportation and utilities, which added 32,000.The financial sector, beset by a deposit run that has led to the closure of three regional banks, lost 28,000 jobs for the month. Manufacturing also took a hit, down 38,000 jobs, as the sector has been in contraction for the past six months.Job gains were fairly evenly distributed across company size, with firms employing fewer than 500 employees contributing 243,000 to the total.</body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153791678","content_text":"Private payrolls rose by 296,000 for April, above the downwardly revised 142,000 the previous month and well ahead of the estimate for 133,000.The fastest job growth in April came in leisure and hospitality with a gain of 154,000, followed by education and health services (69,000) and construction (53,000).The financial sector lost 28,000 jobs for the month. Manufacturing also took a hit, losing 38,000 jobs.Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead, payroll processing firm ADP reported Wednesday.Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. The gain was the highest monthly increase since July 2022.The surge comes despite Federal Reserve efforts to slow economic growth and in particular to tame a powerful labor market that has added more than 800,000 jobs this year by ADP’s count. An imbalance of demand over supply in the labor market has created strong wage gains that are reflected in persistent inflation pressures.One positive sign for the Fed is that annual pay rose 6.7% over the past year, a deceleration from gains that had been consistently coming in above 7%.“The slowdown in pay growth gives the clearest signal of what’s going on in the labor market right now,” ADP chief economist Nela Richardson said. “Employers are hiring aggressively while holding pay gains in check as workers come off the sidelines.”The firm’s report serves as a precursor to the Labor Department’s more closely watched nonfarm payrolls count due out Friday. Economists surveyed by Dow Jones expect that report to show an increase of 180,000 following March’s 236,000. The two reports often differ, sometimes by large margins.According to ADP, the fastest job growth in April came in leisure and hospitality with a gain of 154,000, followed by education and health services (69,000) and construction (53,000). Other sectors posting solid gains included natural resources and mining, with 52,000, and trade, transportation and utilities, which added 32,000.The financial sector, beset by a deposit run that has led to the closure of three regional banks, lost 28,000 jobs for the month. 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