TrimTabs Says 185K Jobs Created in August
California-based TrimTabs Investment Research estimated today that the economy added 185,000 jobs in August.
The announcement comes two days before the U.S. Bureau of Labor Statistics (BLS) will release its own official estimates for the month.
TrimTabs said the concensus view among economists is that BLS will report 125,000 jobs were created.
The TrimTabs report is one of several private estimates released in the days preceding the government's Friday report each month and all use varying counting methods. TrimTabs arrives at its number by analyzing income tax deposits to the U.S. Treasury. The ADP National Employment Report, which uses payroll data, will be released Thursday. The BLS uses survey data.
ADP was dead-on in its July estimate of 163,000 new jobs.
Meanwhile, staffing firm Robert Half International said today that 13 percent of Massachusetts executives plan to add staff in the fourth quarter, which 91 percent somewhat confident or very confident in their prospects for growth.
CORRECTION: This story incorrectly stated that TrimTabs predicts the new jobs number the BLS will announce. The firm uses a consensus estimate from Moody's Analytics that predicts the government number. The headline and several sentences have been altered to reflect the correction.
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