Hello, is America Hiring Again?
So the March ADP employment report didn't look too shabby: as the WSJ reports, the economy gained 201,000 new jobs in March, half from the private-sector. A related TrimTabs report suggested even bigger growth, 295,000 new jobs created in March. (To quote the WSJ, "TrimTabs calculates job growth through the analysis of daily income tax deposits to the U.S. Treasury from all salaried U.S. employees.")
Economists surveyed by Dow Jones Newswires say unemployment now stands at 8.9% - not great, but hopefully moving the needle in the right direction.
While I'm watching these stats like a hawk just like every investor (and employer, for that matter), we all know to take these numbers with a huge rock of salt. Previous month's numbers are often revised upward or downward later, as happened with last February's numbers. (Those slid from 217k to 208k, according to ADP.) The unemployment figures famously under-represent people who are underemployed, people working more than one job to get by, and those who want paid work but have given up job-searching, either permanently or temporarily.
Still, I'm eager to hear your on-the-ground impressions of the labor market now. Are your unemployed friends starting to get work again? Has your company steadied its headcount after layoffs, or started hiring? What about your employed buddies - are they antsy to move from jobs they disliked but didn't want to quit hastily? (WSJ reporter Sue Shellenbarger's article, When a Job is So Bad It Hurts, suggests that quite a few folks are eager to jump ship from toxic work environments.)
Send us your stories! I'm eager to track the employment trend "on the ground", and this blog's a great way to do that.
[image: Clock Work Man by smemon87 on Flickr]
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