Invest Smart Asset Protection and Investment News
Related Articles
The Roseland, New Jersey-based ADP Research Institute today unveiled its numbers for total job gains in the nation for last year, and they actually look pretty good. According to ADP, more than 198,000 were added in 2012 in the U.S. In conjunction with that report, a recent report that was issued by the Labor Department also purported a rise in numbers, stating that private payrolls also rose by 167,000 over the past year. These increases are related to sustained business hiring, a trend that has been healthily on the rise over the past four quarters, in spite of the budget cuts that were looming (and that have now gone into effect).
“The job market remains sturdy in the face of significant fiscal headwinds,” Mark Zandi, chief economist at Moody’s Analytics Inc., said in a statement. “Businesses are adding to payrolls more strongly at the start of 2013 with gains across all industries and business sizes. Tax increases and government spending cuts don’t appear to be affecting the job market.”
Strong Producers:
- Construction increased by 21,000 workers
- Factories added 9,000 workers
- Companies employing more than 499 workers added 57,000 workers
- Medium-sized businesses, with 50 to 499 employees added 65,000 workers
- Small companies increased payrolls by 77,000
According to the Department of Labor, February of this year also furnished notable gains. Overall hiring nationwide, which also is inclusive of hiring for government jobs, increased by a whopping 160,000 for last month. This was after already increasing by 157,000 during January. The jobless rate has also stayed level, hovering around 7.9 percent, as predicted by economists.
