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Jobs Report Numbers 10/3/2012

Below are the numbers that ADP came in with today’s Jobs Report. These represent decent gains, however, the news is dampened by revisions to July and August numbers by 17,000 and 12,000 respectively.

The stock market saw modest gains in the morning  based on the news, but by mid-day the gains were wiped out by HP’s news of lower than expected profits, and a managing of expectations for their 2013 numbers.

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U.S. Nonfarm Private Employment Highlights – September 2012 Report:

Total employment: +162,000

Small businesses:* +81,000

Medium businesses:** +64,000

Large businesses:*** +17,000

Goods-producing sector: +18,000

Service-providing sector: +144,000

Addendum:

Manufacturing industry: + 4,000*

Small businesses represent payrolls with 1-49 employees

** Medium businesses represent payrolls with 50-499 employees

*** Large businesses represent payrolls with more than 499 employees

Note: All data included in the ADP National Employment Report is based on size of payroll. In some cases, small and medium-size payrolls belong to businesses employing more workers than indicated by the size grouping.

 

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Good News For The Housing Market

Existing-home sales have soared nearly 8 percent from a year ago, the National Association of REALTORS® reported this week. Meanwhile, the new-home market also is showing signs of recovery, with starts rising 29.1 percent over year-ago levels, according to the Census Bureau.

What’s more, home builders are getting more confident about the market with recent sales, future sales, and buyer traffic. Homebuilder confidence reached its highest level since the housing-boom time of June 2006, according to this month’s index of homebuilder sentiment.

Also this week, fixed-rate mortgages this week were at all-time record lows or near it, helping to keep home buyer affordability high, Freddie Mac reported in its weekly mortgage market survey.

With a drop in inventory of for-sale homes nationwide, many markets are also seeing an increase in home prices. The median home price is $187,400, a 9.5 percent increase over year-ago levels. Also, “that marked the sixth consecutive month of price increases, the first time that has happened since May 2006, near the very peak of the housing price boom,” CNNMoney reports.

“We have a real housing recovery taking root, and that has positive implications for the broader economy,” Sal Guatieri, senior economist at BMO Capital Markets, told the Associated Press. “If home prices continue to rise, so, too, will household wealth and consumer confidence.”

Source: “Housing Recovery Blossoms,” CNNMoney (Sept. 19, 2012) and “Housing Recovery Stirs in August,” Associated Press (Sept. 19, 20