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Wed Jan 30, 2019, 11:50 AM

U.S. added 213,000 private-sector jobs in January, ADP says

Source: MarketWatch

U.S. added 213,000 private-sector jobs in January, ADP says

Published: Jan 30, 2019 10:28 a.m. ET

Steady hiring suggests U.S. economy enters 2019 on strong note

By JEFFRY BARTASH REPORTER

The numbers: Companies in the U.S. added 213,000 jobs in January, ADP reported Wednesday, another strong reading that suggests little letdown in a steadily growing economy. ... Wall Street economists had forecast an increase of 174,000. ... ADP trimmed its original estimate of new jobs in December to 263,000 from 271,000.

{snip the chart, which will appear below}

What happened: Big companies added 66,000 new jobs in January, midsize firms filled 84,000 jobs and small businesses increased employment by 63,000.

White-collar professional jobs increased by 46,000 and health care was not far behind, but gains were also strong for blue-collar work in manufacturing (33,000) and construction (35,000).

Economists use the figures from ADP, the payroll processor for millions of American workers, to get a sense of how many new jobs the government's employment report is likely to show a few days later. These two reports sometimes vary significantly month to month, though they move in the same direction over time.

Read more: https://www.marketwatch.com/story/213000-private-sector-jobs-created-in-january-adp-says-2019-01-30



https://www.adpemploymentreport.com/2019/January/NER/NER-January-2019.aspx

Total Employment
Change in Nonfarm Private Employment



[CHART] Change in Nonfarm Private Employment

Historical Trend
Change in Total Nonfarm Private Employment



[CHART] Historical Trend - Change in Total Nonfarm Private Employment

Change By Company Size
Change in Total Nonfarm Private Employment by Company Size



[CHART] Change in Total Nonfarm Private Employment by Company Size

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Reply U.S. added 213,000 private-sector jobs in January, ADP says (Original post)
mahatmakanejeeves Jan 2019 OP
at140 Jan 2019 #1
mahatmakanejeeves Jan 2019 #2
at140 Jan 2019 #3
mahatmakanejeeves Jan 2019 #4
at140 Jan 2019 #5
mahatmakanejeeves Jan 2019 #6
at140 Jan 2019 #7
George II Jan 2019 #8
IronLionZion Jan 2019 #9

Response to mahatmakanejeeves (Original post)

Wed Jan 30, 2019, 11:54 AM

1. Very strong stock market again today!

Sure, let us make the top 10% more rich. They own 90% of stocks.

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Response to at140 (Reply #1)

Wed Jan 30, 2019, 12:03 PM

2. It's a little more complicated than that.

What percentage of Americans own stocks?

By Louis Jacobson on Tuesday, September 18th, 2018 at 2:02 p.m.

....
The accompanying graph details the "distribution of stock ownership by wealth percentile," specifically 84 percent for the "top 10 percent," 9.3 percent for the "next 10 percent" and 6.7 percent for the "bottom 80 percent." ... The data in the graph stems from a peer-reviewed academic paper. However, when we took a closer look, we found the data in the graph doesnít directly support the claim that "most Americans donít own stocks." In fact, the actual data on that question shows that a small majority of Americans do have a stake in the stock market.

Stock value vs. stock reach

The data in the graph comes from a paper published in November 2017 by New York University professor Edward N. Wolff.
....

Khanna uses a bar graph that highlights the imbalance in the value of stock holdings, but his headline claim is about the reach of stock ownership throughout the population. Those are two different things. ... When we contacted Wolff, he agreed that Khannaís headline was "wrong." ... So what does the data show on the reach of stock ownership? Itís a bit wider than Khanna suggests.

Even if you donít own or trade individual stocks, thereís a decent chance you have a 401(k) account or an Individual Retirement Account or belong to a pension fund that is invested in stocks. ... "Many individuals have an indirect interest in the stock market by means of their claims on pension funds that own stocks and use these stock positions to fund pension payments," said Hendrik Bessembinder, a professor at Arizona State Universityís W.P. Carey School of Business.

A once-every-three-years study by the Federal Reserve Board found that in 2016, 51.9 percent of families owned stocks, either directly or as part of a fund. ... And in 2017, Gallup found that 54 percent of respondents owned stocks either directly or as part of a fund. ... Those findings show a majority owning stocks ó a modest majority, but still a majority.
....

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Response to mahatmakanejeeves (Reply #2)

Wed Jan 30, 2019, 12:10 PM

3. I agree it is 84% owned by top 10% versus my aprox 90%

And yes, I do have some bones being thrown in in my 403-B by the stock market.

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Response to at140 (Reply #3)

Wed Jan 30, 2019, 12:14 PM

4. The point of the article was that even people who don't own a single share of stock

are still dependent on the fortunes of the stock market, if they expect a pension when they retire.

Pension fund managers are not putting all the money with which they have been entrusted in the bank. They have in shares of Apple, Boeing, Caterpillar,...

So, if you're a member of the IBEW, say, the wellbeing of your pension depends on the wellbeing of stocks.

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Response to mahatmakanejeeves (Reply #4)

Wed Jan 30, 2019, 12:20 PM

5. again, can't disagree, just does not apply to me

because I get no pension except social security and that is not dependent on stocks as far as I know.

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Response to at140 (Reply #5)

Wed Jan 30, 2019, 12:26 PM

6. Got it.

Thanks for writing. Stay warm.

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Response to mahatmakanejeeves (Reply #6)

Wed Jan 30, 2019, 12:29 PM

7. You too, have a very nice day!

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Response to mahatmakanejeeves (Original post)

Wed Jan 30, 2019, 12:30 PM

8. I wonder how many of them were government workers looking for alternate careers...

...or just filling in until they went back to work?

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Response to George II (Reply #8)

Wed Jan 30, 2019, 12:49 PM

9. I bet plenty of unpaid contractors applied for new jobs

But there is no data collected on that. And there are probably fewer people interested in applying for government jobs because of the threat of future shutdowns.

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