Wed Mar 7, 2012, 02:18 PM
Gruntled Old Man (127 posts)
ADP Estimates U.S. Companies Added 216,000 Jobs in February
March 7 (Bloomberg) -- Companies in the U.S. added more workers in February than a month earlier, another sign of labor market strength, data from a private report based on payrolls showed today.
Employment increased by 216,000 for the month after a revised 173,000 gain in January, according to figures from ADP Employer Services. The median estimate in the Bloomberg News survey called for a 215,000 increase this month.
Further employment gains would help generate the wage gains necessary to sustain household spending, which accounts for about 70 percent of the economy. Businesses added 225,000 jobs in February, and the unemployment rate held at 8.3 percent, economists project a Labor Department report will show in two days.
“Everything is pointing to broader employment gains,” Troy Davig, a senior U.S. economist at Barclays Capital Inc. in New York, said before the report. “As people start experiencing a steadier stream of income, that will translate into consumption and that will start building a stronger foundation for growth.”
Read more: http://washpost.bloomberg.com/story?docId=1376-M0INI00D9L3501-2R1CRU41RAEOV406967TKMQV3J&hpid=z5
Oh, right, congratulations on your Super Tuesday wins, Mitt: You're well on your way to a worthless nomination.
Can you say Bob Dole?
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