More Signs of An Economic Recovery
Today, a couple of important indicators of various aspects of the U.S. economy came out. Some of the most important of these involved jobs figures. The ADP Jobs Report came in strong with an increase of 176,000 jobs in June. This is even better considering that the previous month posted a 136,000 jobs increase and expectations for June job figures hovered around 95,000. Also, initial jobless claims came in less than expected at 374,000 compared to a 386,000 consensus.
These positive figures have in turn led economists to revise their forecasts for tomorrow's nonfarm payrolls report to a consensus gain of 100,000 new jobs from the 95,000 previously predicted.