ADP Jobs Report: Services Sector Showing Signs Of Recovery

by: Sold At The Top

Wednesday, private staffing and business services firm ADP released the latest installment of its National Employment Report. The report indicated that the situation for private employment in the U.S. improved in November, as private employers added 206,000 jobs in the month. Things brings the total employment level 1.73% above the level seen in November 2010.

Looking at the chart below; ADP’s total private nonfarm payrolls since 2001 as well as the year-over-year and month-to-month percent change, show that while the job recovery had been anemic throughout most of 2010, the trend had been picking up momentum more recently.

Although the level of jobs is still far below the peak seen in late 2007 and still near the lows seen during the worst period of the "dot-com" recession, the bottom looks to be clearly defined and the trend is looking comparable to past recoveries.

Perusing the rest of the data in the ADP dataset you can see the the economy is currently showing the most growth for small to mid-sized service-providing jobs, with goods-producing jobs remaining near trough levels.

Look for Friday’s BLS Employment Situation Report to likely show somewhat similar trends.

Click to enlarge: