ADP Report Shows Green Shoots in the Jobs Market

Brian Hicks

Updated May 5, 2010

green shoots


It is that time of the month again.

Today and Friday investors get another peek into the all-important jobs market, where green shoots are beginning to sprout.

In fact, this morning we received three separate reports that the job market is finally turning the corner.

Here’s the skinny on that score from CNNMoney. It’s in an article by Chavon Sutton and Blake Ellis entitled: Job reports paint a brighter picture

“Three separate jobs reports released Wednesday signaled that the nation’s employment picture may finally be brightening, and hinted that a government report due at week’s end could show strong gains.

Private-sector employers added jobs in April for the third consecutive month, according to Automatic Data Processing (ADP).

Outplacement firm Challenger, Gray and Christmas said planned job cuts in April dropped to the lowest level in nearly four years.

And TrimTabs Investment Research said the nation added 262,000 jobs in April, boosted by government Census workers not included in the ADP report.

The reports came ahead of the Labor Department’s monthly jobs figures, scheduled for release Friday. The April data are expected to show a gain of 187,000 jobs, compared to an increase of 162,000 jobs in March, with the unemployment rate holding at 9.7%.

There’s a general tone that there’s a slow recovery from the more than 8 million jobs lost during the past two years.

“Companies have cut to the bone, cutting off arms and legs. Now they are shifting from defense to offense,” said John Canally, an economist for LPL Financial.”

That being said, Friday’s BLS number looms large for the markets.

Let’s hope it’s a good one.

Related Articles:

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Bank Of America Stops Kicking the Can

The Case-Shiller Index Meets the “Gated Ghetto”

Elizabeth Warren on The Shrinking Middle Class

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