ADP says private firms added 209,000 workers last month. The market was disappointed that the number was not better, but at least job growth is a regular part of the economy now. It tends to be an anchor against the drag housing continues to be.
Unemployment numbers will be out at the end of the week. They are not expected to be spectacular, but again should indicate that the economy as a whole will create well in excess of a million jobs. This should bring the unemployment rate below 8% by the start of 2013.
Another measure of jobs activity is done by Gallup, and the new figures are very strong.
According to the research group:
U.S. job market conditions in March reached their best level since August 2008, with Gallup’s Job Creation Index now at +18, up from +14 in February. This is the largest one-month jump in the index since the start of 2008.
Since the recession began in December 2007, most Americans were unaware of how sharp the downturn would be until the end of 2008.
Methodology: For Gallup Daily tracking, Gallup interviews approximately 1,000 national adults, aged 18 and older, each day. The Gallup Job Creation Index results are based on a random sample of approximately 500 current full- and part-time employees each day.