Wednesday, February 3, 2010

ADP January Employment Report

ADP released its January employment report this morning and the data appears to support economists’ prediction that the economy is improving…slowly. With an initial estimate of the 2009 Q4 GDP at 5.7% by the Bureau of Economic Analysis, economists think that job growth will soon follow as companies seek to add employees to keep up with rising demand.

Some positive news from the ADP report:
  • Employment for the service sector rose by 38,000
  • Medium sized companies (with employee count between 50 and 499) increased by 9,000
The BLS will release its January employment report on February 5. Economists expect to see an increase in government payrolls (estimated 25,000) due to the hiring by the U.S. Census.


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