The Bureau of Labor Statistics released its Employment Situation Summary for May, and the numbers are better than economists predicted. April's report was also higher than expected -- 288,000, instead of the 218,000 predicted. Unemployment, which dipped 0.4 percent to 6.3 percent in April, remained steady.
The Class of 2014 may not have to don fast food uniforms after the caps and gowns come off. Employers that hire new grads are feeling optimistic about the market and plan to hire 8.6 percent more college graduates this year as compared to last. Starting salaries for this year's class are also up by 1.2 percent, all this according to a recent survey released by The National Association of Colleges and Employers (NACE).
Economists predicted that today's employment report from payroll processing company ADP would reflect 189,000 jobs. The actual number, just north of that, might be a sign that our long, cold winter is finally over.
Economists were predicting gains of 152,000 jobs, and unemployment falling from 6.6 percent to 6.5 percent. This morning's jobs report, on the other hand, showed 175,000 added jobs, and a slightly higher unemployment rate of 6.7 percent. Add that to an ADP report on Wednesday that was worse than expected and you have a fairly confusing picture of the economy. So what the heck is going on here?
The private sector added 139,000 jobs last month, a number that's "well below average," according to Carlos Rodriguez, president and chief executive officer of ADP, which compiles the report using its payroll data.
This morning, the Labor Department released the Employment Situation Summary for January, and the numbers are lower than economists had predicted: 113,000 jobs added last month, as opposed to the expected 185,000 jobs. This comes on the heels of Wednesday's ADP report, which saw 175,000 jobs added in January, and a lackluster December 2013, in which the BLS said the economy added only 75,000 jobs (revised upward from 74,000).
Economists predicted an addition of more than 190,000 jobs for December 2013, which makes today's Employment Situation Report unexpected bad news. Total non-farm employment increased by just 74,000 jobs in December, bringing the yearly average per month up to 182,000 per month -- identical to 2012's numbers. Unemployment, meanwhile, dropped to 6.7 percent, a new five-year low. So what's going on?