August 1, 2012

90K New Jobs Expected In Friday Report

Private job creation estimates that precede the federal government's own calculations, which come out Friday, predicted today that the country gained as many as 163,000 jobs in July.

But TrimTabs Investment Research analysts believe the U.S. Bureau of Labor Statistics (BLS) will report July job growth of 90,000 in its monthly release on Friday.

The ADP National Employment Report, which estimates job creation using payroll data, said that 163,000 jobs were added in July, mostly in the service-providing sector

And TrimTabs, which bases its calculations on daily income tax deposits to the U.S. Treasury, said 115,000 jobs were created during the month.

That would be an improvement over June's 80,000 jobs, which was not enough to change the unemployment rate of 8.2 percent. May was worse, adding only 69,000 jobs.

TrimTabs said the country needs to average 150,000 jobs per month to pull down the unemployment rate. By federal estimates, the average through June is just 75,000.

Meanwhile, the BLS released metropolitan area unemployment numbers, which found that 328 of 372 metro areas across the country had lower unemployment rates in June than they did a year ago.

In Worcester, the June unemployment rate was 7 percent, down from 8.3 percent in June 2011. In the Leominster-Fitchburg-Gardner area, unemployment was 8.5 percent, down from 10.3 percent. And in Framingham, an already low unemployment rate of 5.9 percent in June 2011 fell to 4.8 percent this June.

Read more

ADP: U.S. Sees Biggest Jobs Gain In 5 Months

State's Unemployment Bumps Up To 6.1%


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