MBS MID-DAY: 3/7/2012

Employment in the U.S. nonfarm private business sector increased by 216,000 from January to February on a seasonally adjusted basis. The estimated advance in employment from December to January was revised slightly upwards to 173,000 from the initially reported 170,000. Employment in the private, service-providing sector rose 170,000 in February, and employment in the private, goods-producing sector increased 46,000 in February. Manufacturing employment increased 21,000.

According to today’s ADP National Employment Report, employment in the nonfarm
private business sector rose 216,000 from January to February on a seasonally adjusted
basis. Employment in the private, service-providing sector increased 170,000 in February,
after rising a revised 149,000 in January. Employment in the private, goods-producing
sector rose 46,000 in February. Manufacturing employment increased 21,000, while
construction employment advanced 16,000 and the financial services sector added 14,000
jobs during that period.

This month’s employment gains in The ADP National Employment Report continue to be
solid, with job growth averaging just over 200,000 for the past five months, said Carlos
Rodriguez, President and CEO of ADP. ―Also, for February, virtually every sector of the
economy added jobs – something I hope will continue for the rest of 2012.

―Employment grew in all the major sectors of the economy tracked in The Report, and
across payrolls of all sizes. Employment on medium payrolls—those with 50 to 499
workers—rose 88,000 in February. Employment on large payrolls—those with 500 or
more workers—increased 20,000 during that same period,‖ Prakken noted.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/250105.aspx

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