Bloomberg News (9/6, Chandra, Kowalski) reports, “Companies added more workers than forecast in August, easing concern the US job market may be stalling, a private report based on payrolls showed. The 201,000 increase in employment, the biggest gain in five months, followed July’s revised 173,000 rise,” according to ADP Employer Services. “A sustained pickup in hiring would help generate the wage gains needed to spur consumer spending, the biggest part of the economy.”
CNN Money (9/7, Hargreaves) reports, “And more good news on the jobs front: Two separate reports showed that layoffs are on the decline. The Labor Department said that 365,000 people filed for first-time unemployment claims in the week ended September 1, a 12,000 drop from the week before. And another report put out by outplacement firm Challenger, Gray, & Christmas showed that planned job cuts hit a 20-month low. Despite the upbeat economic reports, most economists said it will not significantly impact their expectations for a relatively lackluster number from the government’s highly anticipated monthly jobs report, set for release” today.
Also covering the story are McClatchy (9/7, Hall), USA Today (9/7, Davidson), Forbes (9/7, Brown), Reuters (9/7), the UK’s Financial Times (9/6, Raval, Politi, Subscription Publication) and other media sources.
From SME Daily Executive Briefing 9/7/2012