Today’s ADP numbers didn’t look too great.
But there are other signs, elsewhere, that the labour market is performing nicely.
Gallup’s Job Creation Index for May reached 22, the highest level since April 2008.
Here’s the chart:
The score reflects 37% of workers telling Gallup that their employer is hiring, and 15% saying their company is letting people go and reducing the size of its workforce.
The percentage hiring is the most since August 2008. The percentage laying off or firing is the lowest since March 2008. Job creation was strongest in the East and West, where scores improved to levels not seen since mid-2008.
Gallup notes spring hiring patterns may have pushed the score higher.
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