What Jumped Out Of This Jobs Report?

by Zach | October 3, 2013 11:42 am

What Jumped Out Of This Jobs Report?


Automated Data Processing (ADP[1]) handed out the week’s sole monthly update on the U.S. labor market this Wednesday morning.  We don’t get Federal government data this Friday.  ADP’s report has been +30,000 to +40,000 jobs shy of Federal estimates.

ADP’s September private sector employment increased +166,000 jobs. The company’s economists revised down August’s job gain from +176,000 to +159,000.

Top-line job additions reflected pure “Muddle Through” U.S.A. demand.

Inner details in this report were more interesting.

First, small businesses below 50 employees added +74,000 of the +166,000 jobs.  No visible effect is there from Obamacare health insurance costs.

Second, finance shed -4,000 jobs via layoffs seen in the home mortgage sector.  There has been softness, or overreach, in home finance markets.  But construction added +16,000 jobs.  Building activity is healthy.

Third, services made up +147,000 of the +166,000 jobs.   It’s a service-driven recovery.

Fourth, trade/transport/utilities handed in the biggest sector gain, at +54,000. It’s the most globally exposed sector.

My RTI Question:  Of These Four Details, Which Do You Think Is MOST Interesting?
EMCOR GROUP INC (EME): Free Stock Analysis Report[2]

JPMORGAN CHASE (JPM): Free Stock Analysis Report[3]

LENNAR CORP -A (LEN): Free Stock Analysis Report[4]

To read this article on Zacks.com click here.[5]

Zacks Investment Research[6]

Endnotes:
  1. ADP: http://studio-5.financialcontent.com/investplace/quote?Symbol=ADP
  2. EMCOR GROUP INC (EME): Free Stock Analysis Report: http://www.zacks.com/registration/pfp?ALERT=ZR_LINK&d_alert=rd_final_rank&t=EME&ADID=INVESTORPLACE_CONTENT_ZR_ARTCAT_REAL_TIME_INSIGHT
  3. JPMORGAN CHASE (JPM): Free Stock Analysis Report: http://www.zacks.com/registration/pfp?ALERT=ZER_LINK&d_alert=ZER_CONF&t=JPM&ADID=INVESTORPLACE_CONTENT_ZER_ARTCAT_REAL_TIME_INSIGHT
  4. LENNAR CORP -A (LEN): Free Stock Analysis Report: http://www.zacks.com/registration/pfp?ALERT=ZER_LINK&d_alert=ZER_CONF&t=LEN&ADID=INVESTORPLACE_CONTENT_ZER_ARTCAT_REAL_TIME_INSIGHT
  5. To read this article on Zacks.com click here.: http://www.zacks.com/stock/news/110684/yawn-another-muddle-through-jobs-report-but-what-details-jump-out-at-you
  6. Zacks Investment Research: http://www.zacks.com/

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