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NewCa com: Employment in Canada Increased by 39,400 Jobs in August
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ADP Canada National Employment Report: Employment in Canada Increased by 39,400 Jobs in August 2021
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ADP Canada National Employment Report: Employment in Canada Increased by 221,300 Jobs in July 2021
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Written by rjs, MarketWatch 666News posted last week about economic effects related to the coronavirus 2019-nCoV (aka SARS-CoV-2), which produces COVID-19 disease, has been surveyed and some articles are summarized here. We cover the latest economic data, especially the prospects for an infrastructure bill, stimulus checks, government funding, the Fed, the latest employment data, housing market reports, mortgage delinquencies & forbearance, travel, layoffs, lockdowns, and schools, as well as infrastructure and GDP. The bulk of the news is from the U.S., with a few more articles from overseas at the end. (Picture below is morning rush hour in downtown Chicago, 20 March 2020.) News items about epidemiology and other medical news for the virus are reported in a companion article.
AP Photo/Evan Vucci
Even with the usual caveat about the poor reliability of this metric as a predictive indicator, this looks like bad news. For the second straight month, ADP projects a decline in job growth, with this big swing and a miss on expectations in July. They show 330,000 jobs added, almost exactly half of what economists expected to see:
Private sector employment increased by 330,000 jobs from June to July according to the July ADP® National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.