TRADEX
GLOBAL INTERNAL COMMENTARY
Private payrolls jump! ADP, the payroll processor, estimates that
the private sector added 192k jobs in January.
It also revised December up from 185k to 215k. The unemployment rate is estimated to stay
fairly flat at 7.8%. These are good
numbers to start 2013 and we believe that the US economy will continue to grind
along at 2% GDP. There are still
pot-holes to be careful of and the investment community is very complacent (we
are not). Keep nimble – Michael Beattie
EXTERNAL RESEARCH COMMENTARY
Payroll processor ADP estimated Wednesday that private employers added 192,000 jobs in January. ADP revised December's estimate from 215,000 to 185,000 private sector jobs. The government said last month that economy ended 2012 with 155,000 more jobs in December and a 7.8% unemployment rate. It said private employers added 168,000 jobs while governments cut 13,000. The government's report on January employment and unemployment is due Friday. "U.S. private sector employment got off to a good start in 2013,"said Carlos Rodriguez, president and chief executive officer of ADP. "According to the ADP National Employment Report, private sector employers created an average of 183,000 new jobs per month during the last three months. This is an encouraging sign of steady improvement in the job market."
Payroll processor ADP estimated Wednesday that private employers added 192,000 jobs in January. ADP revised December's estimate from 215,000 to 185,000 private sector jobs. The government said last month that economy ended 2012 with 155,000 more jobs in December and a 7.8% unemployment rate. It said private employers added 168,000 jobs while governments cut 13,000. The government's report on January employment and unemployment is due Friday. "U.S. private sector employment got off to a good start in 2013,"said Carlos Rodriguez, president and chief executive officer of ADP. "According to the ADP National Employment Report, private sector employers created an average of 183,000 new jobs per month during the last three months. This is an encouraging sign of steady improvement in the job market."
Tradex Global Advisory Services, LLC
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203-863-1500
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