A glimpse of the light at the end of the tunnel

There have been a slew of reports that together indicate that the US economy is looking up, sparking a rebound on Wall Street. Companies increased hiring in the month of February, with the private sector adding 216,000 jobs against an expected 208,000 jobs according to the ADP National Employment Report. This means that after two years of expansions that was devoid of any increase in employment, businesses are finally at a point that they feel they need a larger workforce to meet an increase in orders.

The government is expected to release a more comprehensive report of the monthly labour market on Friday which will include numbers from both the private as well as public sector. Economists expect these numbers to show that 210,000 nonfarm jobs were added to the economy, with a gain of 225,000 jobs in the private sector offsetting a loss of jobs in the public sector.

 

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