Posts Tagged ‘employment’

It’s a busy day ahead as investors will eye key data on the manufacturing industry and receive one of the top forecasting tools for the monthly employment release. Until the data hits the market, focus is on Europe as the Greek government recently new austerity measures so it can meet its deficit-cutting pledge. News reports say the plan will raise taxes and slash spending. In the US, about 90 minutes before the bell sounds, Dow futures are off 7 points to 10,392 while S&P 500 futures are about flat at 1,171.10. Meantime, commodities are on the rise. WTI crude oil is up 39 cents to $80.07 per barrel and Spot Gold is up $3.95 per ounce to $1,138.65. Key Events Today: 8:30 ― The ADP Employment Survey saw the economy shed 22K private jobs in January ― the twenty-fourth consecutive month...(read more)

The ADP Employment Report was released this morning. 22,000 jobs were lost in Janaury 2010. This was slightly better than the expected print of 30,000 job cuts but not far from consensus. From the release ... Nonfarm private employment decreased 22,000 from December 2009 to January 2010 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from November to December 2009 was revised by 23,000, from a decline of 84,000 to a decline of 61,000. The January employment decline was the smallest since employment began falling in February of 2008." January’s ADP Report estimates nonfarm private employment in the service-providing sector increased by 38,000, the second consecutive monthly increase. However, this employment...(read more)