by Bill McBride on 3/30/2011 08:15:00 AM
Wednesday, March 30, 2011
Private-sector employment increased by 201,000 from February to March on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from January 2011 to February 2011 was revised down to 208,000 from the previously reported increase of 217,000.Note: ADP is private nonfarm employment only (no government jobs).
The average monthly increase in employment over the last four months – December through March – has been 211,000, consistent with a gradual if uneven decline in the unemployment rate. This is almost three times the average monthly gain of 74,000 over the preceding four months of August through November.
This was about at the consensus forecast of an increase of about 205,000 private sector jobs in March.
The BLS reports on Friday, and the consensus is for an increase of 195,000 payroll jobs in March, on a seasonally adjusted (SA) basis, and for the unemployment rate to hold steady at 8.9%.
Posted by Bill McBride on 3/30/2011 08:15:00 AM