Private sector adds 133,000 jobs in May: ADP

NEW YORK, Thu May 31, 2012 – The pace of hiring at companies picked up in May, though the 133,000 jobs created this month came in shy of analysts’ expectations, data from a payrolls processor showed on Thursday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 148,000 jobs. April’s figure was revised down slightly to an increase of 113,000 from the previously reported 119,000.

The report is jointly developed with Macroeconomic Advisers LLC.

“Recent data hasn’t been great, and while this isn’t a horrible number, it shows we’re in a lackluster period in the economy right now,” said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.

Stock index futures trimmed gains immediately after the data, while the dollar held losses against the euro and yen.

The ADP figures come ahead of the government’s much more comprehensive labor market report on Friday, which includes both public and private sector employment.

Small business payrolls rise by 55,000 in December; paychecks up, too

WASHINGTON ― Small businesses created 55,000 jobs in December and increased working hours for employees, further evidence the labor market was strengthening.

In addition, workers at small businesses saw a rise in their paychecks last month, said payrolls processing company Intuit on Wednesday.

December’s gain compared to November’s upwardly revised 70,000 count, which was previously reported as an increase of 55,000.

The jobs market is showing signs of firming, with the unemployment rate dropping to a 2-1/2-year low of 8.6 percent in November. In addition, first-time applications for state unemployment benefits are hovering near 3-1/2-year lows.Households’ perceptions of the labor market are also improving, with measures of jobs “plentiful” and “hard to get” in the Conference Board’s December consumer sentiment survey yielding their best readings since January 2009.

The revision to Intuit’s small business payrolls in November suggests that the government’s nonfarm employment count for that month could be raised from 120,000 when figures for December are released on Friday.

December nonfarm payrolls are expected have increased 150,000 according to a Reuters survey, with the unemployment rate seen edging up to 8.7 percent.

The government has been revising the prior months’ nonfarm payrolls figures higher and analysts say the Bureau of Labor Statistics’ model tends to delay the count of small business employment.

The Intuit survey is based on responses from about 72,000 small businesses with fewer than 20 employees that use the Intuit Online Payroll system. It covered the period from Nov. 24 to Dec. 23.

The average work week for small business employees rose 0.4 percent to 25.4 hours, while the average monthly salary increased 0.4 percent to $2,706.

Private sector adds 206,000 jobs in November, beating expectations

NEW YORK ― The pace of job growth in the economy’s private sector accelerated in November, with U.S. employers adding 206,000 jobs, a report by a payrolls processor showed on Wednesday.

The ADP National Employment Report surpassed economists’ expectations for a gain of 130,000 jobs, according to a Reuters survey. October’s private payrolls were revised up to an increase of 130,000 from the previously reported 110,000.

The report is jointly developed with Macroeconomic Advisers LLC.

“The ADP news is very good news. The private sector is adding jobs,” said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.

U.S. stocks index futures added to gains immediately after the data, though investors were also focused on an announcement of coordinated actions from major central banks to provide liquidity to the global financial system.

Treasuries prices extended losses after the data.

The ADP figures come ahead of the government’s much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a rise in overall nonfarm payrolls of 122,000 this month and a rise in private payrolls of 140,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.