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The KUIK Market Update for Wednesday, January 31: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
152 |
points |
26,230 |
7:52 AM |
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S&P500 |
Up |
0.2% |
percent |
2,830 |
0.84 |
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Nasdaq Composite |
Up |
0.4% |
percent |
7,434 |
(0.46) |
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30 Year Treasury |
Down |
(1) |
Basis Points |
2.97 |
Annual Yield |
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Private-sector employment was strong for the second straight month in January, as employers added 234,000 jobs, according to payroll processor ADP. Economists expected 185,000 new private-sector jobs, compared with December’s estimate of 250,000. Small businesses added 58,000 jobs, medium-sized 91,000, and large 85,000. |
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Pay is going up. The cost of employing the average American worker with pay and benefits posted the biggest 12-month gain in almost three years, reflecting a strong labor market. The employment cost index rose 0.6% in the fourth quarter, matching exonomists expectations. Wages which are about 70% of employment costs rose 0.5% in the final quarter of 2017, as did benefits. In the 12 months ended in December compensation climbed 2.6%, matching the biggest increase since early 2015. The last time compensation rose faster was in 2008. |
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For a free Social Security and Retirement Analysis go to brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/us-adds-234000-private-sector-jobs-in-january-adp-says-2018-01-31 |
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For today’s Market Update Report click to listen-> |
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