{"id":1004093907,"date":"2014-04-03T06:04:29","date_gmt":"2014-04-03T14:04:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004093907"},"modified":"2022-12-02T22:01:27","modified_gmt":"2022-12-03T06:01:27","slug":"economy-watch-adp-puts-private-sector-job-creation-at-191k-home-prices-still-have-upward-momentum-business-owners-do-a-little-more-hiring-in-march","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-adp-puts-private-sector-job-creation-at-191k-home-prices-still-have-upward-momentum-business-owners-do-a-little-more-hiring-in-march\/","title":{"rendered":"Economy Watch: ADP Puts Private-Sector Job Creation at 191K; Home Prices Still Have Upward Momentum; Business Owners Do More Hiring in March"},"content":{"rendered":"<p><em>By Dees Stribling, Contributing Editor<\/em><\/p>\n<p>On the Wednesday ahead of official U.S. unemployment data, which will be published by the government on Friday, Automated Data Processing always releases its numbers. According to ADP\u2019s estimates for March, the private sector added 191,000 jobs during the month. The report is based on the company\u2019s payroll data and is produced in collaboration with Moody\u2019s Analytics; it isn\u2019t always useful in forecasting the official numbers (though sometimes it is).<\/p>\n<p>Large businesses (more than 500 workers) produced an unusually large number of jobs, according to the report: a net of 67,000. As usual, however, small businesses (fewer than 50 workers) produced more: 72,000. Medium businesses\u201450 to 500 workers\u2014produced a net of 52,000 positions.<\/p>\n<p>Mark Zandi, chief economist of Moody\u2019s Analytics, noted in a statement that \u201cthe job market is coming out from its deep winter slumber. Job gains are consistent with the pace prior to the brutal winter. The gains are broad based across industries and business size classes. Even better numbers are likely in coming months as the weather warms.\u201d<\/p>\n<p><strong>Home Prices Still Have Upward Momentum<\/strong><\/p>\n<p>CoreLogic reported this week that home prices (including distressed sales) were up year over year in February by 12.2 percent, which is roughly in line with the most recent Case-Shiller report, though that covered January. Month over month, CoreLogic said the increase was 0.8 percent. The CoreLogic House Price Index is a three-month weighted average.<\/p>\n<p>Excluding distressed sales, home prices nationally increased 10.7 percent in February 2014 compared to a year earlier, according to CoreLogic, and 0.9 percent compared to January 2014. The company predicts that home prices, including distressed sales, will increase 10.5 percent year over year from March 2013 to March 2014.<\/p>\n<p>\u201cAs the spring home-buying season kicks off, house price appreciation continues to be strong,\u201d Mark Fleming, chief economist for CoreLogic, said in a statement. He further posited that \u201calthough prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply.\u201d<\/p>\n<p><strong>Business Owners Do a Little More Hiring in March<\/strong><\/p>\n<p>According to the National Federation of Independent Businesses on Wednesday, NFIB owners increased employment by an average of 0.18 workers per firm in March, an improvement over February\u2019s 0.11 reading and the sixth positive month in a row. Eleven percent of the owners (down 1 point) reported adding an average of 2.6 workers per firm over the past few months. Offsetting that, 12 percent reduced employment (up 2 points) an average of 2.1 workers, producing the net gain of 0.18 workers per firm overall.<\/p>\n<p>Wall Street had a more modest up day on Wednesday than Tuesday, with the Dow Jones Industrial Average gaining 40.39 points, or 0.24 percent. The S&amp;P 500 advanced 0.29 percent to hit a new record high, and the Nasdaq gained 0.21 percent for the day.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to ADP\u2019s estimates for March, the private sector added 191,000 jobs during the month. Home prices were up year over year in February by 12.2 percent. According to the National Federation of Independent Businesses, NFIB owners increased employment by an average of 0.2 workers per firm in March.<\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004093907","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: ADP Puts Private-Sector Job Creation at 191K; Home Prices Still Have Upward Momentum; Business Owners Do More Hiring in March - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-adp-puts-private-sector-job-creation-at-191k-home-prices-still-have-upward-momentum-business-owners-do-a-little-more-hiring-in-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: ADP Puts Private-Sector Job Creation at 191K; Home Prices Still Have Upward Momentum; Business Owners Do More Hiring in March\" \/>\n<meta property=\"og:description\" content=\"According to ADP\u2019s estimates for March, the private sector added 191,000 jobs during the month. Home prices were up year over year in February by 12.2 percent. According to the National Federation of Independent Businesses, NFIB owners increased employment by an average of 0.2 workers per firm in March.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-adp-puts-private-sector-job-creation-at-191k-home-prices-still-have-upward-momentum-business-owners-do-a-little-more-hiring-in-march\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-03T14:04:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T06:01:27+00:00\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-adp-puts-private-sector-job-creation-at-191k-home-prices-still-have-upward-momentum-business-owners-do-a-little-more-hiring-in-march\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-adp-puts-private-sector-job-creation-at-191k-home-prices-still-have-upward-momentum-business-owners-do-a-little-more-hiring-in-march\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Economy Watch: ADP Puts Private-Sector Job Creation at 191K; 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