Private-sector jobs increased by a modest 187,000 in January, according to this morning’s release of the ADP Employment Report. That’s a sharp slowdown from December’s 297,000 surge, which has since been revised down to 247,000.
Daily Archives: February 2, 2011
THE JOBLESS RECOVERY ROLLS ON
Yesterday’s Institute for Supply Management’s survey of manufacturers for January delivered a strong dose of optimism for thinking that the expansion has a head of steam. As an early look at how the economy fared last month, this index’s rise to its highest level in seven years signals that the growth is still bubbling in the new year. The U.S. stock market took the hint and posted a strong rally yesterday. In fact, equities have more or less regained all the losses suffered during the Great Recession.