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ADP Jobs Report for May Released

June 1st, 2017 Comments off
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The numbers are in… Credit: MHProNews.

The monthly private payroll jobs report from ADP and Moody’s Analytics was released today, and it appears that President Donald Trump’s “America First” plans are taking shape.

According to CNBC, job creation surged in May thanks to a jump in construction positions and a boom in professional and business services, up 253,000, which is significantly higher than the expectations from economists surveyed by Reuters, which projected a number of 185,000.

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Mark Zandi of Moody’s Analytics. Credit: CNBC.

The growth is three times the rate of the growth in the underlying labor force,” said Mark Zandi, chief economist at Moody’s Analytics.

So that means the unemployment rate, which is 4.4 percent, is quickly headed to 4 percent. This labor market is rip-roaring and getting really tight.”


Leading the way in jobs created was the services sector, with 205,000 new jobs, professional and business services contributing 88,000 jobs, which represents the best month for the sector in nearly three years, and education and health services adding 54,000 jobs.

The report noted that the construction sector added 37,000 jobs as the building season heats up, while manufacturing grew by 8,000 jobs and mining grew by 3,000 jobs.

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Credit: CNBC.

As Daily Business News readers are aware, the mining sector has been one of the cornerstones of President Trump’s agenda.

Trade, transportation and utilities added 58,000 new jobs, and franchises add 18,400 new workers.

The positive report comes at a time where economists are doubtful that the Trump administration can deliver on its goal of three percent annual GDP growth, in part because the labor market is near full employment.

The report from ADP and Moody’s Analytics are regular precursors to the nonfarm payrolls count from the Bureau of Labor Statistics (BLS).

Economists estimate that payroll growth will come in around 176,000, down from the previous month’s 211,000.

 

The Proof is in the Pudding…

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The President and First Lady visit Saudi Arabia. 300 billion in deals were completed during the visit. Credit: The White House.

As the Daily Business News covered in a feature story recently, while President Trump continues to make progress, including the lowest unemployment rate in decades, and the highest consumer, business confidence, and homebuilder confidence numbers in years, along with over $300 billion in deals with Saudi Arabia, what ELS Chairman Sam Zell colorfully called a “cacophony” of Deep State resistance has moved into high gear.

Even with that Deep State resistance, NFIB President and CEO Juanita Duggan, and industry organizations like MHARR, talked about the potentially massive impact that the Trump Administration could have.

Small business owners are clearly encouraged by the election results, but now it’s time for President-elect Trump and congressional leaders to deliver,” said Duggan.

Federal taxes, regulations, and Obamacare are the three biggest impediments to running a small business in America. Small business owners have high expectations that those problems will be addressed.”

For more on President Trump’s progress, and challenges, click here. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

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Outsourcing and the U.S. Economy: Can Trump Muscle Save the Day?

May 3rd, 2017 Comments off
OutsourcingandtheUSEconomyCanTrumpMuscleSavetheDaycreditlastlineofdefense-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Last line of defense.

India based IT services firm Infosys announced yesterday that they plan to hire 10,000 U.S. workers over the next two years and open up four additional technology centers, beginning in Indiana.

According to Newsmax, the move comes at a time when Infosys, along with fellow Indian companies Tata Consultancy Services and Wipro, are on the radar of the Trump Administration for displacing U.S. workers by bringing in cheaper foreign workers as a part of the H1-B Visa program, paying them less.

The Trump Administration has ordered federal agencies to review the program.

When you think about it from a U.S. point of view, obviously creating more American jobs and opportunities is a good thing,” said Infosys Chief Executive Vishal Sikka, who said the company plans to hire U.S. workers in fields such as artificial intelligence.

Sikka also says that Infosys has already hired 2,000 U.S. workers as part of a previous effort started in 2014.

OutsourcingandtheUSEconomyCanTrumpMuscleSavetheDaycreditHindustanTimes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Vishal Sikka. Credit: Hindustan Times.

We started small at first and have been growing since then,” said Sikka.

The reality is, bringing in local talent and mixing that with the best of global talent in the times we are living in and the times we’re entering is the right thing to do. It is independent of the regulations and the visas.”

 

How Outsourcing Jobs Affects the Economy

According to a report from The Balance, the main negative effect of outsourcing is it increases U.S. unemployment.

The 14 million outsourced jobs are almost double the 7.5 million unemployed Americans. If all those jobs returned, it would be enough to also hire the 5.7 million who are working part-time but would prefer full-time positions.

The report also says that imposing laws or terms to restrict job outsourcing could make U.S. firms less competitive.

According to a study from Pew Research, major changes are reshaping U.S. workplaces as the economy moves deeper into the “knowledge-focused age.”

OutsourcingandtheUSEconomyCanTrumpMuscleSavetheDaycreditPewResearch-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Pew Research.

These changes are affecting the very nature of jobs by rewarding social, communications and analytical skills. They are prodding many workers to think about lifetime commitments to retraining and upgrading their skills.

The study cites that the number of workers in occupations requiring average to above-average education, training and experience increased from 49 million in 1980 to 83 million in 2015, or by 68 percent.

This was more than double the 31 percent increase over the same period in employment, from 50 million to 65 million, in jobs requiring below-average education, training and experience.

 

Hope for Lost Jobs? President Trump in Action 

JobsGoBoomEmploymentNumbersShowTrumpEffectcreditHeathersHomilies-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Heather’s Homilies.

President Trump is known for his no-nonsense, get things done style. Coming into the White House, he had no plans to change it.

I will be the greatest jobs producer God ever created,” said President Trump just before his inauguration. “Believe me.

By all appearances, he’s on his way to delivering on that statement.

In the ADP March private payrolls report, companies added 263,000 jobs for the month, which was well above the 185,000 expected from economists surveyed by Reuters, and also bested the 245,000 reported for February.

Even with a slight move down in April, surveys still show that confidence in the economy is strong.

Job growth is off to a strong start in 2017,” said Mark Zandi, chief economist of Moody’s Analytics at the time.

The gains are broad-based but most notable in the goods producing side of the economy including construction, manufacturing and mining.“

That has resonated with the small business community as well, as the January, February, and March reports reflect anticipation of President Trump’s policies, including the highest Small Business Optimism Index in 37 years from the NFIB.

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Juanita Duggan. Credit: NFIB.

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan in January.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.”

 

 

A View from the Industry

Even with the progress that’s been made, President Trump still faces an uphill battle.

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com, MHLivingNews.com and MH Consultant.

As well as the markets and new job creation are already responding to his initiatives, where could we be if there wasn’t a non-stop assault on our new president?” said MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach.

In November, Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

MHARR CEO, Mark Weiss, JD, shared similar thoughts with MHProNews in a story, linked here.

For more on the nations economic progress, including a recap of President Trump’s first 100 days, click here. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Trump Card: March Jobs Report Delivers

April 6th, 2017 Comments off
TrumpCardMarchJobsReportDeliverscreditFortune-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Fortune.

President Donald Trump is known for his no-nonsense, get things done style. Coming into the White House, he had no plans to change it.

I will be the greatest jobs producer God ever created,” said President Trump just before his inauguration.

Believe me.

 

 

By all appearances, he’s on his way to delivering on that statement.

The ADP March private payrolls report is out, and showed another big jump.

According to CNBC, companies added 263,000 jobs for the month, which is well above the 185,000 expected from economists surveyed by Reuters and also better than the 245,000 reported for February.

JobsGoBoomEmploymentNumbersShowTrumpEffectcreditHeathersHomilies-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Heather’s Homilies.

Goods producing firms added 82.000 jobs, with construction accounting for 49,000 of that number.

Professional and business services was the leading sector for new jobs with 57,000, and leisure and hospitality added 55,000. Health added 46,000 jobs, manufacturing payrolls grew by 30,000 and trade, transportation and utilities rose by 34,000.

Also of note is where the jobs were created. As part of an ongoing commitment by President Trump to help small business, companies with fewer than 50 employees saw the biggest growth in jobs for March with 118,000, while companies with 50 to 499 employees added 100,000 jobs.

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Credit: CNBC.

Job growth is off to a strong start in 2017,” said Mark Zandi, chief economist of Moody’s Analytics.

The gains are broad-based but most notable in the goods producing side of the economy including construction, manufacturing and mining.

Markets were hopeful yesterday that President Trump could deliver on his pro-growth agenda. The report from the Labor Department is due at 8:30a ET tomorrow morning.

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Juanita Duggan, President and CEO of the National Federation of Independent Business (credit, NFIB).

As Daily Business News readers are aware, the January, February, and now March reports reflect anticipation of President Trump’s policies, meetings and movement, including the highest Small Business Optimism Index in 37 years from the NFIB.

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan in January.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.”

 

A View from the Industry

Even with the progress that’s been made, President Trump still faces an uphill battle.

As well as the markets and new job creation are already responding to his initiatives, where could we be if there wasn’t a non-stop assault on our new president?” said MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach.

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L. A. ‘Tony’ Kovach addressing industry professionals in an educational session.

Back in November, Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

MHARR CEO, M. Mark Weiss, JD, shared similar thoughts with MHProNews in a story, linked here.

For more on the progress of the Trump Administration, including proposed budget cuts to National Public Radio (NPR) and the Corporation for Public Broadcasting (CPB), click here. ##

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Jobs Go Boom: Employment Numbers Show Trump Effect

March 8th, 2017 Comments off
JobsGoBoomEmploymentNumbersShowTrumpEffectcreditHeathersHomilies-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Heather’s Homilies.

For President Donald Trump, the news regarding jobs made for a great morning.

U.S. private sector job creation surging with nearly 300k created last month. Much more than expected!” tweeted Trump.

Today’s report from global payroll firm ADP provides the first look at hard figures from the President’s first full month in office.

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Credit: U.K. Daily Mail, Twitter.

According to CNBC, employment in the private sector surged by 298,000 for the month, with goods producers adding 106,000.

Construction jobs increased by 66,000 and manufacturing added 32,000.

The total exceeded market expectations of 190,000, according to economists surveyed by ADP.

JobsGoBoomEmploymentNumbersShowTrumpEffectcreditCNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: CNBC.

February proved to be an incredibly strong month for employment with increases we have not seen in years,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

Confidence is playing a large role,” said Mark Zandi, chief economist of Moody’s Analytics on CNBC.

Businesses are anticipating a lot of good stuff — tax cuts, less regulation. They are hiring more aggressively.

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President Donald Trump in Orlando, FL last week. Credit: U.K. Daily Mail.

A further breakdown shows that service jobs led the way at 193,000, with 66,000 coming from professional and business services and 38,000 from health care.

Companies with 50 to 499 employees added the most with 122,000, while small firms added 104,000 and large contributed 72,000.

 

Distractions, Dodges, Delays and Disruptions

Even with job growth, President Trump still faces staunch opposition, distractions, dodges, delays and disruptions.

Billionaire George Soros, who supported Hillary Clinton to the tune of almost $10 million to super PACs, along with connections to funding of Black Lives Matter and other “rent-a-riot” organizations, made his position crystal clear in January at the World Economic Forum in Davos, Switzerland.

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George Soros at Davos. Credit: CNBC.

I personally am convinced that he is going to fail,” said Soros.

Failure will come not because of people like me who would like him to fail, but because his ideas that guide him are inherently self-contradictory and the contradictions are already embodied by his advisors.

Soros then elaborated on his comments.

I have described him as an impostor and a con man and a would-be dictator,” said Soros.

But he’s only a would-be dictator because I’m confident that the Constitution and the institutions of the United States are strong enough. He would be a dictator if he could get away with it, but he won’t be able to.

But, not every billionaire sees Trump in a negative light.

SamZellELSCharimanCreditDailyBurinessNewsMHProNews

Sam Zell, ELS Chair, credit, MHProNews.

I think Donald Trump is very smart and has a unique opportunity to change things and lead this country,” said ELS Chairman Sam Zell.

And I think this country desperately is looking for somebody to give us leadership.

 

Impact on MHVille

While the anti-trump side of the media spotlights the Soros-backed “rent-a-riot” protests, businesses are investing billions more in the U.S., and job growth continues, all based upon President Trump’s economic policies.

FromObamatoTrumpAmericaCelebratesProtestsandContemplatescreditCNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: CNBC.

As well as the markets and new job creation are already responding to his initiatives, where could we be if there wasn’t a non-stop assault on our new president?” said MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach.

l-a-tony-kovach-daily-business-news-mhpronews-

L. A. ‘Tony’ Kovach is the publisher of MHProNews.com, MHLivingNews.com and MH Consultant.

Back in November, Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

MHARR CEO, M. Mark Weiss, JD, told MHProNews similar thoughts, see the story, linked here.

For more on the progress of the Trump Administration, including proposed budget cuts to National Public Radio (NPR) and the Corporation for Public Broadcasting (CPB), click here. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Job Growth Strong in June

July 3rd, 2014 Comments off

According to payroll processing firm ADP, private sector firms added 281,000 jobs in June, the strongest month for hiring since November, 2012. Small companies with under 50 employees added 117,000 jobs, mid-sized businesses added 115,000 employees and large firms with over 500 workers added 49,000 jobs, as reported to MHProNews by CNNMoney.com. Job growth by industry indicates professional and business services added 77,000 jobs, financial companies added 11,000 jobs, construction firms added 36,000 jobs and manufacturers 12,000. Other significant data reveal automobile sales hit an eight-year high while orders for new manufactured goods reached a six-month high for June. A survey of economists by CNNMoney predicts the U. S. economy added 200,000 jobs, and that the unemployment rate remained at 6.3 percent in June. ##

(Photo credit: ebay.com)

Private Job Reports Looking Up

September 7th, 2012 Comments off

In advance of the government’s jobs report, CNNMoney tells MHProNews paycheck processing firm ADP says private employers added 201,000 jobs in Aug., an increase from 173,000 in July. Adding more than 150,000 jobs in a month decreases the unemployment rate. ADP says the service sector added 185,000 new jobs, while manufacturing added 16,000. Construction employment rose 10,000, the third consecutive monthly increase, and the largest rise since March. Meanwhile, the Labor Dept. says unemployment claims dropped 12,000 from the previous week, and outplacement firm Challenger, Gray, & Christmas report planned job cuts hit a 20-month decline.

(Image credit: Karen Roach)

Employment Figures not Expected to be Robust

July 5th, 2012 Comments off

Anchorage Daily News states weekly unemployment benefit applications fell 14,000 to a seasonally-adjusted 374,000 according to the U.S Dept. of Labor, the fewest in six weeks. While economists predict only 90,000 jobs were added last month, payroll provider ADP counts 176,000 jobs added in June. ADP only measures private sector jobs, not government workers. The labor department said employers added an average of 73,000 jobs in April and May, well below the 223,000 average for the first three months of the year. The total number of people receiving benefits fell 20,000 for the week ending June 16. With retail sales and manufacturing down for June, the economy only expanding at a 1.9 percent rate Jan.–March of this year, and consumer confidence falling in June for the fourth consecutive month, it is not anticipated job growth will be very high.

(Image credit: jobsearch/Karen Roach)