Thursday, March 3, 2011

Signs of sustained job growth?

According to the ADP National Employment Report, February was the strongest month for new job openings since November 2006.  This boost of 217,000 jobs is part of a trend in rising employment during the past six months.

Of those employers adding jobs, small and mid-sized companies made up the majority.  Large-sized companies (employers with more than 500 workers) added only 13,000 to their payroll.

The number of people requesting unemployment benefits dropped to a three-year low at the end of the month, but we still have a weak spot in unemployment.

We won’t know until it happens –turmoil in the middle east and potential accompanying rising oil prices, or other unforeseen effects, may affect hiring.  Still, signs are pointing towards continued job growth.

The ADA report precedes the Bureau of Labor report which will be released Friday.

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