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Daily Digit: 158,000 new jobs

Thursday, November 01, 2012 - 01:05

Nov. 1 - U.S. companies added 158,000 jobs, according to payroll processing company ADP, Jeanne Yurman reports.

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158,000 is our number today. This is how many jobs U.S. companies added in October, according to payroll processing firm, ADP. A possible sign of an improving labor market. It was the biggest jump in eight months - topping economists' forecast. And September's job gains were revised higher to 114,000 versus the previously reported 88,000. The revision comes as ADP adopts a new methodology compliments of number crunching from Moody's Analytics, which ADP switched to recently after partnering with a rival firm for years. For this reason market watchers like Dennis Gartman, publisher and editor of The Gartman Letter says great numbers but be skeptical and take them with a big grain of salt. It will take from six to nine months to see how consistent the Moody numbers are and how well they correspond the the monthly jobs report.

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Daily Digit: 158,000 new jobs

Thursday, November 01, 2012 - 01:05