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Economy in Brief
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
Italian Confidence Backtracks But Remains High-Valued As It Is for France and Germany
From Q1 2008 to date, Italian GDP actually has failed to grow and has declined by 5.8%...
U.S. Existing Home Sales & Prices Rise Again
The NAR reported that sales of existing homes increased 1.1% during March (-1.2% y/y) to 5.600 million units (AR)...
by Tom Moeller May 6, 2015
The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 169,000 during April following a 175,000 March gain, revised from 189,000. The latest rise was the weakest since January of last year and down from 296,000 last June. It disappointed consensus expectations for a 198,000 increase in the Action Economics Forecast Survey.
The ADP survey is based on ADP's business payroll transaction system covering 411,000 companies and nearly 24 million employees. The data are processed by Moody's Analytics Inc., then calibrated and aligned with the BLS establishment survey data.
Small-sized payrolls improved 94,000 (2.7% y/y), the weakest rise in three months. Medium-sized payrolls rose a moderate 70,000 (2.4% y/y) in April compared to a 123,000 gain six months earlier. Large payrolls nudged 5,000 higher (1.8% y/y), down from an 81,000 increase back in September.
Employment in the goods producing sector slipped 1,000 (+2.2% y/y), compared to a 64,000 rise in September. Hiring in the construction sector advanced 23,000 (5.1% y/y) while manufacturing sector businesses shed 10,000 workers (+1.1% y/y). Jobs in the service sector increased a modest 170,000 (2.4% y/y), down from the 248,000 pace reached last June. Jobs in trade, transportation & utilities increased 44,000 (1.9% y/y). Professional & business employment gained 35,000 (3.0% y/y) while employment in the financial sector improved 8,000 (1.7% y/y).
The ADP National Employment Report data are maintained in Haver's USECON database; historical figures date back to April 2001. The figures in this report cover jobs only in the private sector. The expectation figure is available in Haver's AS1REPNA database.
ADP/Moody's National Employment Report | Apr | Mar | Feb | Y/Y | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Nonfarm Private Payroll Employment (m/m chg, 000s) | 169 | 175 | 200 | 2.4% | 2.3% | 1.9% | 2.3% |
Small Payroll (1-49) | 94 | 105 | 102 | 2.7 | 2.1 | 1.9 | 2.5 |
Medium Payroll (50-499) | 70 | 64 | 52 | 2.4 | 2.8 | 2.2 | 2.1 |
Large Payroll (>500) | 5 | 6 | 47 | 1.8 | 1.8 | 1.6 | 2.1 |
Goods-Producing | -1 | 3 | 17 | 2.2 | 2.3 | 1.7 | 2.2 |
Construction | 23 | 21 | 25 | 5.1 | 4.6 | 3.5 | 2.5 |
Manufacturing | -10 | -3 | 3 | 1.1 | 1.2 | 0.9 | 1.6 |
Service-Producing | 170 | 172 | 182 | 2.4 | 2.3 | 2.0 | 2.3 |