ADP, Labor Department reports point to improving jobs picture

By NewsCore

Published: 11:05 AM - 01/05/12
Last updated: 11:06 AM - 01/05/12

WASHINGTON - U.S. private-sector payrolls increased 325,000 in December, led by the service-providing sector and small businesses, according to the ADP employment report released Thursday.

A survey of economists by Dow Jones Newswires expected the figure to increase by 175,000.

The November level was revised to 204,000 from a prior estimate of 206,000.

Markets look to ADP's report on private-sector payrolls to provide some guidance on the US Labor Department's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls.

However, analysts have noted seasonal-adjustment issues that have led to past ADP estimates for December substantially missing the government's data.

Economists polled by MarketWatch expect the Labor Department on Friday to report strengthening employment, with overall nonfarm payrolls up 150,000 in December, compared with 120,000 in November.

Economists also expect the unemployment rate to rise to 8.7 percent from 8.6 percent.

The Labor Department, meanwhile, reported Thursday that the number of Americans filing initial claims for regular state unemployment benefits fell 15,000 to a seasonally-adjusted 372,000.

Economists surveyed by Dow Jones Newswires expected claims in the week ended Dec. 31 to fall by 6,000 to 375,000. Claims from two weeks ago were revised up to 387,000 from 381,000.

Last week was the eighth time in the past nine that new claims came in below the 400,000 mark -- a positive sign, as economists generally say claims must remain below that level to indicate a prolonged turnaround.

Reader Reaction We reserve the right to remove any content at any time from this Community, including without limitation. Please check our Community Rules for more information. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment. New comments are only accepted for two weeks from the date of publication.

Source: http://recordonline.com/apps/pbcs.dll/article?AID=/20120105/BIZ/120109901/-1/rss06

scarlett johansson glee project winner kris humphries remember the titans wale wale weather denver