There is good news on the economic front as yesterday’s ADP National Employment Report indicates that nonfarm private sector employed increased by 206,000 jobs over the last month. This is the second consecutive month of significant jobs gains and the report precedes tomorrow’s Bureau of Labor Statistics Employment Situation Summary.
The monthly economic report from payroll giant ADP comes as the 2012 presidential campaign picks up steam and the economy is the focal point of much of the debate between Republican presidential contenders and the Obama White House. While there has been some measurable improvement in the number of new jobs, the nation’s unemployment rate remains stubbornly high; though last month the rate did decline ever so slightly. One of the challenges facing President Obama is campaigning while the unemployment rate is high and millions of Americans remain unemployed.
The ADP National Employment Report shows an increase of 12,000 jobs in large companies, those with 500 workers or more, and a gain of 84,000 jobs on medium payrolls of between 50 and 499 workers. The largest gain was among small businesses, with payrolls of up to 49 workers, adding 110,000 jobs. This past Saturday the American Express Company staged “Small Business Saturday” to encourage holiday shopping at local small businesses throughout the country. Small businesses remain the engine to job growth in the nation’s economy.
There was one other piece of good news in the ADP report; employment in the construction industry increased by 16,000. It was the first significant gain in construction jobs since November 2006.